Ripples ODL (On Demand Liquidity) service relies on XRP liquidity which is why it is only slowly being rolled out corridor by corridor. ODL would benefit hugely from more and more retail users buying and selling XRP all around the world. So why is it that they are completely ignoring the absolute hands down number 1 source of retail online liquidity in the world?
No, I am not talking about Amazon – Ripple may or may not have something going on with them, who knows… they keep using Amazon as example in speeches and slideshows but after many years of using Amazon (and Uber) in their presentations they are starting to sound a little bit like Justin Sun.
No, I am of course talking about online gambling. Some clever people in the Bitcoin Community saw very early on that Bitcoin Casinos was a massive, massive industry waiting to happen. Bitcoin cornered the market in the early days of crypto. But once the flaws of Bitcoin were exposed to the world, the crypto casino industry needed something better, something more reliable, something faster. They needed something as a backup for all the times when Bitcoin transactions are backed up and take more than 12 or 24 hours. Who stepped in? Litecoin. Yes this pale copy of Bitcoin stepped into the breach and has picked up the slack.
Online gamblers like to gamble. And they like to gamble NOW. They don’t want to wait for a day to play (Bitcoin) and they don’t even want to wait 30-60 munutes (Litecoin). Once a gambler decides he wants to have a punt, he wants it immediately.
XRP is the answer. 3 second transaction times are a gamblers wet dream. XRP could – and very much should – dominate this industry. But it doesn’t and is therefore losing out on billions of dollars worth of potential liquidity every single day. And it is not as if it is very difficult to set this up. The XRP ledger is designed perfectly for this use case and a small handful of innovative bookies and casinos have taken it upon themselves to add XRP support. But most haven’t.
A quick phone call and meeting with white label crypto casino suppliers like Rival, RTG, SoftSwiss, etc and XRP can be integrated into ALL of their casinos in the blink of an eye. Dozens and dozens and dozens of casinos using XRP would trigger the domino effect and see the rest all firing up their jets to join the bandwagon.
I understand the “ethical” issue with gambling but nobody is putting a gun to somebodys head and forcing them to gamble. Gamblers make their own minds up before they have a flutter and adding a better payment system is not encouraging gambling. But in the world of crypto not even mighty Ripple has any guilt over the fact that people are losing money hand over fist so that is not an argument in any case.
A huge and very naive missed opportunity. If XRP wants to be number 1 then these kinds of simple oversights need to be stamped out.
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