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4 Possible Reasons Alibaba's New Mobile App Is Being Powered by xCurrent or XRP - Global Coin Report
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4 Possible Reasons Alibaba’s New Mobile App Is Being Powered by xCurrent or XRP

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XRP
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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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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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Bitcoin, Litecoin, Ethereum, and Ripple On the Rise

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Bitcoin
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The recent development in the cryptocurrency industry is a rise in price for many of the core digital coins. We believe that the unexpected price hike is due to the renewed interest of the key players in the industry. Many investors, speculators, and traders are rushing into the number one cryptocurrency; Bitcoin like never before. Other altcoins such as Ethereum, Ripple, and Litecoin are not dormant either. The effect of the influx is the soaring prices of the digital coins within seven days.

The price of the crypto leading giant-Bitcoin has increased at 25.74 percent in one week. Ethereum also gained 18.76 percent increase in its price. Litecoin and Ripple also recorded some percentage increase in the tune of 53.20 percent and 16.12 percent respectively. It is no just these few popular coins that have gained in one week. From what we have gathered, 94 digital coins amongst the leading 100 cryptocurrencies are also experiencing the rise in price. This information is according to what TradingView published in April 2019.

According to them also, other cryptocurrencies gained in value while others declined. From their calculations, six digital currencies advanced while ninety-four was on the decline. Also, another information shows that the increase in Bitcoin price has reduced the value of other assets such as bonds and stocks.

The possible reason for the rally

Many people are wondering…

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