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4 Possible Reasons Alibaba’s New Mobile App Is Being Powered by xCurrent or XRP

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XRP

Back in late June, Alibaba’s payment arm of Ant Financial launched a blockchain based electronic wallet that enabled payments between Hong Kong and the Philippines. In the maiden transaction that Jack Ma was a part of, the transaction made by Ms. Mary Grace to the Philippines was completed in a matter of seconds. One report indicated that the time period taken for the transaction to complete was just 3 seconds.

This then brings us to the first reason the Mobile App is actually being powered by xCurrent or XRP. Comparing the 3-second speed of the transaction to that of XRP (3.3 Seconds on average), we see a vast similarity. The XRP ledger is the only ledger known to date, that can complete transactions at that speed. Also, the Santander App also showcased such speeds in early June. The app is being powered by Ripple’s xCurrent.

A second reason why the Ant Financial app could be powered by XRP is the link Justin Sun has with both Ripple and Jack Ma. Before starting the Tron Project, Justin was the Chief Representative and Adviser of Ripple Labs in the Greater China area. Justin is also the mentee of Jack Ma. Justin is also the first Millennial graduate at Jack Ma’s Hupan University. There is a lot of possibilities with these links of Justin to both Ripple and Jack Ma: founder of Alibaba.

Thirdly, WeChat Pay and AliPay run on dLocal which is a cross-border payment service that is powered by Ripple. The same AliPay, but in Hong Kong, facilitated the payment from Ms. Mary Grace’s phone through its app that sent money to a GCash wallet in the Philippines. Therefore, connecting the dots, the AliPayHK mobile app possibly used Ripple based software – xCurrent – to power the transaction.

The fourth reason as to why the AliPayHK payment app possibly used Ripple tech, is the speed at which they came up with the service. Taking into account that Ripple Labs have spent over 6 years perfecting its Ripple ledger, AliPay could not have come up with similar blockchain technology in less than a year. Knowing how business deals are done in corporations, rather than reinventing the wheel, AliPay probably signed a partnership with Ripple that probably included a Non-Disclosure Agreement.

In conclusion, the AliPayHK payment app that facilitated Ms. Mary Grace’s transaction was too quick for it not to be powered by Ripple or XRP. The speed and ease of the transaction point towards a Ripple powered platform.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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Blogs

How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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