He argued that by not limiting a technology to work only with XRP, Ripple's native digital asset, more people would be attracted to the technology and benefit from improved user experiences. By moving the transactions to a shared, distributed ledger that only permissioned users can access, Ripple claimed to be able to facilitate transactions in as little as a few seconds instead of days. ;ASSIGNOR:SCHWARTZ, DAVID J.;REEL/FRAME:004938/0770, RWE-DEA AKTIENGESELLSCHAFT FUR MINERALOEL UND CHEM, CHANGE OF NAME;ASSIGNOR:DEUTSCHE TEXACO AKTIENGESELLSCHAFT GMBH;REEL/FRAME:005244/0417, PATENT EXPIRED DUE TO NONPAYMENT OF MAINTENANCE FEES UNDER 37 CFR 1.362, Method and system for optionally registering a local process to allow participation in a single system semantic, Selective transaction oriented recovery and restart for message-driven business applications, Database system with methods for appending data records by partitioning an object into multiple page chains, Cluster of workstations for solving compute-intensive applications by exchanging interim computation results using a two phase communication protocol, Method and system including a central computer that assigns tasks to idle workstations using availability schedules and computational capabilities, Systems and methods for wireless communications, Global network computers for shared processing, Commercial distributed processing by personal computers over the internet, System and method for rapid completion of data processing tasks distributed on a network, Systems and methods for processing complex data sets, Systems and methods for geophysical imaging using amorphous computational processing, Method to support authentication and authorization of web application user to database management system in web server based data-driven applications, Apparatus, system, and method for automatically minimizing real-time task latency and maximizing non-real time task throughput, Management and scheduling of a distributed rendering method and system, Method and system for secure remote distributed rendering, Apparatus for generating panoramic images and method thereof, Information processing system and load sharing method, Method and system for distributed rendering, Stable hash-based mapping computation for a dynamically varying target set, Distributed processing multiple tier task allocation, Computers and microchips with a portion protected by an internal hardware firewall, Computers including an undiced semiconductor wafer with Faraday Cages and internal flexibility sipes, Computer or microchip with a secure control bus connecting a central controller to volatile RAM and the volatile RAM to a network-connected microprocessor, Information processing system and load balancing method, Multivariate analysis replica intelligent ambience evolving system, High impact resistant macromolecular networks, Data processing system having pyramidal hierarchy control flow, Multiprocessor computer apparatus employing distributed communications paths and a passive task register, Data processing apparatus for highly parallel execution of data structure operations, Data exchange processor for distributed computing system, Distributed multiprocessor communication system, Task communicator for multiple computer system, Multi-processor task dispatching apparatus, Multi-processor system employing job-swapping between different priority processors, Microcomputer based distributed control network, Syntactically self-structuring cellular computer, Funtionally structured distributed data processing system, Task scheduler for a fault tolerant multiple node processing system, Method of file access in a distributed processing computer network, Computer or microchip with its system bios protected by one or more internal hardware firewalls, Microchips with inner firewalls, faraday cages, and/or photovoltaic cells, Computers and microchips with a portion protected by an internal hardware firewalls, Computers and microchips with a side protected by an internal hardware firewall and an unprotected side connected to a network, Computers and microchips with a faraday cage, with a side protected by an internal hardware firewall and unprotected side connected to the internet for network operations, and with internal hardware compartments, Computer or microchip controlled by a firewall-protected master controlling microprocessor and firmware, Microchips with an internal hardware firewall, Computers or microchips with a hardware side protected by a primary internal hardware firewall leaving an unprotected hardware side connected to a network, and with multiple internal hardware compartments protected by multiple secondary interior hardware firewalls, Computer or microchip with an internal hardware firewall and a master controlling device, Microchips with an internal hardware firewall protected portion and a network portion with microprocessors which execute shared processing operations with the network, Microchips with multiple internal hardware-based firewalls and dies, Microchips with an internal hardware firewall that by its location leaves unprotected microprocessors or processing units which performs processing with a network, Computers or microchips with a primary internal hardware firewall and with multiple internal harware compartments protected by multiple secondary interior hardware firewalls, Computers and microchips with a faraday cage, a side protected by an internal hardware firewall and an unprotected side connected to the internet for network operations, and with internal hardware compartments, Personal and server computers having microchips with multiple processing units and internal firewalls, Computer or microchip including a network portion with RAM memory erasable by a firewall-protected master controller, Computers or microchips with a hardware side protected by a primary internal hardware firewall and an unprotected hardware side connected to a network, and with multiple internal hardware compartments protected by multiple secondary inner hardware firewalls, Internal hardware firewalls for microchips, Computer and microprocessor control units that are inaccessible from the internet, Computer or microchip protected from the internet by internal hardware, Distributed multiple-tier task allocation, Microchip with faraday cages and internal flexibility sipes, Computer with at least one faraday cage and internal flexibility sipes, Computer or microchip with a secure system bios having a separate private network connection to a separate private network, Method of using a secure private network to actively configure the hardware of a computer or microchip, Computer or microchip with a secure system BIOS and a secure control bus connecting a central controller to many network-connected microprocessors and volatile RAM, Personal computer, smartphone, tablet, or server with a buffer zone without circuitry forming a boundary separating zones with circuitry, A Unix-Based local computer network with load balancing, HOST-HOST communication protocol in the ARPA network, Hierarchical dual bus architecture for use in an electronic switching system employing a distributed control architecture, Intercomputer communication control apparatus & method, Intercomputer communication control apparatus and method, Apparatus for a data processing system having a peer relationship among a plurality of central processing units, Method and system for communicating interrupts between nodes of a multinode computer system, Method and apparatus for exploiting communications bandwidth as for providing shared memory, System for controlling access to a common bus in a computer system, Local area network system with a multi-computer system coupled method and method for controlling the same. Disclaimer: This content is informational and should not be considered financial advice. Along the way, Schwartz developed an online persona, JoelKatz (the name was inspired by Stimpson J. Crypto trader Shuoji Zhou runs FBG Capital, Asia's hottest cryptocurrency hedge fund. Ultimately this results in foreign currency exchanges and a transfer of funds, often via numerous correspondent member banks. For example, floating, The eleven communications links A, B, C, D, The A and B links are used as communications lines for computers 100 which are on the same level within the distributed computer system. The history of the XRPL could be older than we previously believed. Computers on the higher level are used as a last resort for processing when one or more portions of the task cannot be distributed for processing to computers connected through the A, B and D. The A and B links are used to shorten the path along which a portion of a task is to be distributed. The computer system of claim 9, wherein each computer within the computer system is a personal type computer. Today, the Ripple network is so renowned that Colombia considered using it for its national land registry under the previous government administration. The computer system of claim 46, wherein the third link means are operable for transferring portions of the task, additional task and further additional task bidirectionally. Despite the fact that none of Ripples early banking partners were using XRP cryptocurrency, its penny stock price, coupled with confusion over its actual relationship to Ripple, caused XRP to soar on crypto exchanges to a peak of $3.65 in January 2018, up from $.006 only a year before. Lapse for failure to pay maintenance fees, Expired due to failure to pay maintenance fee, Information on status: patent discontinuation. xRapid frees up this capital and lowers costs by substituting the local currencies with the XRP cryptocurrency. On the bitcoin and ethereum blockchains, for example, validation comes from independent miners vying to confirm new blocks of transactions in exchange for the cryptocurrency. 69. Lets say you want to transfer $5,000 from your account at JPMorgan Chase to your cousin in La Paz, Bolivia. 3. A computer system in which portions of a task are performed by a number of different processors is commonly referred to as distributed processing. He developed encrypted cloud storage and enterprise messaging systems for organizations like CNN and the. 48. Loosely coupled compound computer system using lock and semaphore mechanism for performing exclusive control of shared resource which is accessed through a distinct bus, Method and apparatus for commanding operations on a computer network, System control network for multiple processor modules, Mechanism for supporting out-of-order service of bus requests with in-order only requesters devices, Method for regulating access by concurrent transactions to resources, Method of resetting coupled modules and system using the method, Word processing system with a printer shared by a plurality of display units. In a bizarre blockchain era twist, Ripple is accused of being as centrally controlled as SWIFT itself. a complete chain) within that level. Ripple isnt the only blockchain startup that is after SWIFT. Schwartz exposes how many XRP he owns and what his relationship to Bitcoin and Ethereum looks like. 40. In short, Schwartz wants to disrupt SWIFT, the Society for Worldwide Interbank Financial Telecommunication, a Belgian cooperative organization founded in 1973 that counts more than 10,000 financial institutions as its members and is the ultimate middleman in banking. Schwartz dismisses such objections: When you try to update a legacy system, you tend to be pressured to keep things as opposed to replacing them. ;ASSIGNOR:SCHWARTZ, DAVID J.;REEL/FRAME:004938/0770, Owner name: Method of and arrangement for ordering of multiprocessor operations in a multiprocessor system. At least two low level computers are operable for receiving an additional task, for processing, if they can, portions of the additional task and distributing for processing those portions of the additional task unprocessed by the low level computers to the at least one high level computer if the latter is currently available for processing. Accordingly, it is an object of the invention to provide an improved distributed computer system in which portions of a task rather than the complete task are transferred between computers in processing of the task. To help offset concerns that the company could flood the cryptocurrency market or manipulate prices, Ripple has locked up its XRP into smart contracts that hold the currency in escrow, temporarily releasing 1 billion tokens a month. DAVID SCHWARTZ ENTERPRISES, INC., 73 EMMET AVE., E, Free format text: Its a gateway, a barrier, and obstacle. A further object of the invention is to provide a distributed computer system which includes a plurality of substantially identical computers such as, but not limited to, personal computers operable for performing distributed processing. With more than 10,000 banks in SWIFTs network, Newman is hopeful that he can transition all of SWIFTs members to its new system GPI system by 2020. David is one of the original architects of the XRP Ledger. By requiring that the entire task be transferred as one package from one computer to the next, interaction between the distributed computer system and user while a task is being processed is difficult. 70. The Crypto Basic is not responsible for any financial losses. The process took seven years and was estimated to cost $400 million. Banks interest in Ripple coincided with the general excitement bubbling up around bitcoin in 2016 and 2017. 41. In 2001 he landed at a company in Santa Clara, California, called WebMaster Inc., where he helped design an early cloud-based storage system. And that really, philosophically, bothers me, Schwartz says. Is it manufacturable? However, a patent document shared by an XRP influencer known as XRP King Doggo IV indicates that Schwartz may have developed the rough concept for the network as far back as 1988. Additional levels of computers can be added to the system to further distribute the processing of portions of a task and additional task. 6. network). FIG. 6 is an expanded distributed computer system in accordance with the invention; FIG. For a fuller understanding of the invention, reference is had to the following description taken in conjunction with the accompanying drawings, in which: FIG. To lessen the load of computers in the high level computer means, a pyramid-like network is constructed wherein the number of first links associated with any computer of the high level computer means is preferably greater than the number of second links associated with any computer of the low level computer means. A task. David Schwartz created the XRPL way back in 1988 when they didnt even had a name for the blockchain. 64. Ripple executives, including CTO David Schwartz, have admitted the software that is sold to banks for payments processing, XCurrent, is not a blockchain or any form of distributed ledger. David Schwartz, Ripple's Chief Technology Officer (CTO), has confirmed that the majority of the company's revenue comes from selling its XRP holdings. The computer system of claim 37, wherein each computer means within the low level computer means is coupled to at least one other computer means within the low level computer means through two second link means whereby the low level computer means forms a ring of computer means. RWE-DEA AKTIENGESELLSCHAFT FUR MINERALOEL UND CHEM, Free format text: six computers) is to be understood as merely exemplary. On either side are the offices of Bank of America and U.S. Trust. The method of claim 28, further including transferring portions of the task along the second link means unidirectionally. The computer system of claim 20, wherein each computer means within the low level computer means is coupled to at least one other computer within the low level computer means through two second link means whereby the low level computer means forms a ring of computer means. Schwartz went on to help build two financial tools that would become Ripples first core products: xVia, a payment interface designed to let users send payments globally with increased transparency, and xCurrent, enterprise software that lets banks initiate and settle transactions. 2. Marshall Huebner is considered an expert in risk management bankruptcy advisory work. chwartzs background mirrors that of many of todays technologists. 16. 24. On Oct. 21, veteran cryptographer Nik Bougalis said that he was parting ways with Ripple. 4, a computer 100 includes a central processing unit (CPU) 110, a, Each of the elements within computer 100 is an off the shelf item. 53. The computer system of claim 1, wherein each computer within the low level computer means is coupled to at least one other computer within the low level computer means through two second link means whereby the low level computer means forms a ring of computers. One of the leading architects of the XRP ledger and current Ripple CTO David Schwartz spoke on Nik Bougalis's stepping down from his role as a director of engineering at the blockchain firm. Chris Larsen, Ripples executive chairman, adds: Hes, if not the soul, hes a key part of the soul of what were trying to do here.. His widely read JoelKatz blog is subtitled Democracy is vulnerable to a 51% attack, an allusion to the tipping point at which one party could gain majority control of a cryptocurrency, no longer making it decentralized. Generally, no more than about six computers can be used in the system resulting in a state of limited distributed processing. Its a control, says Schwartz. 34. The blockchain specialist's Chief Technology Officer David Schwartz turned to Twitter to celebrate: "This is awesome news. In early 2011 Schwartz was looking for something new. However, a patent document shared by an XRP influencer known as XRP King Doggo IV indicates that Schwartz may have developed the rough concept for the network as far back as 1988. We want to create a payment network like SWIFT. Fabian Vandenreydt, a former head of SWIFT Global Securities, adds that the issue isnt whether Ripples technology works but whether it saves banks more money than it costs. r/Ripple The Ripple CBDC team will be collaborating with the Central Bank of Montenegro CBCG on a pilot project to create a CBDC or . Related Topics Ripple Crypto comments sorted by Best Top New Controversial Q&A Add a Comment More posts you may like. Known as "JoelKatz . Normally, and unlike a typical distributed computer system, distributed processing is performed by a number of different microprocessors located within one central processor. 32. By the end of the conversation, the two had decided to see if they could build a financial infrastructure similar to bitcoin that would use far less energy and drastically reduce transaction time. 54. At age 48, Schwartz, bearded and balding with shoulder-length hair, is the Gandalfesque wizard of San Franciscos Ripple and co-creator of the third-most-valuable cryptocurrency, XRP. According to the article, as she noted, Schwartz chose Ripple stock instead of XRP. 21. He mentions a project completed in 2015, when the European Central Bank launched a new platform for linking 20 central securities depositories (CSDs).
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