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

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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