The blockchain technologies as we know are an infinite cumulate of possibilities that even to the moment we haven’t started to explore. That is a crucial fact since there’s clear evidence that the blockchain can help improve several processes we deploy today in many areas such as accounting, data management and privacy, human resources, and so many others that we haven’t identified yet.
So far it all seems to be centered on cryptocurrencies, and even though the virtual coins have brought considerable benefits in the financial spectrum, there’s still so much we can do by applying the technology itself to other processes.
In this matter, the cross-border platform based in China, Alipay, has decided to move a step closer to prove that the blockchain can be definitely exploited more efficiently. Let’s see how it goes.
Alipay and Standard Chartered/GCash partnership
The announcement came in on June 25th by the Ant Financial company, cnLedger, which released a report stating an e-wallet was launched to serve their users with remittance services between the Philippines and Hong Kong.
According to the disclosure, one of the main reasons for the company to launch such service, centers on the fact of the delay and inefficiencies that making cross-border payments entails, a reality that affects the thousands of people who live in another country and need to send money back to home.
That is, in fact, the case of a Filipino who after 22 years living and working in Hong Kong, China, stills struggles to send remittances to home with delayed transactions that last even weeks. However, thanks to the latest alliance it was proven this is something that can be optimized to just a couple of seconds, a piece of news that was published on Twitter:
Under the witness of Jack Ma, Ant Financial announced the launch of their first blockchain-based electronic wallet cross border remittance service, and completed the first remittance (AlipayHK in HK <-> GCash in Philippines ) within 3 seconds
Source (CN): https://t.co/jK3PenQGuN pic.twitter.com/jRYY8EUbY6
— cnLedger [Not giving away ETH] (@cnLedger) June 25, 2018
As it seems, Alipay is going to make use of the blockchain technology similar to Ripple (XRP), so it will be interesting to see how this partnership between Alibaba and Standard Chartered affects Ripple. This indeed is big news (or we should instead say concern?) for Ripple community.
Regarding the deal’s facts, the Chinese billionaire and CEO of Alibaba, Jack Ma, stated that this is an incredible advancement in cross-border transactions. And he made it very clear that it is in his will to bring this kind of efficient service to the whole world, a fact that he plans to exploit by making use of blockchain technology rather than bank institutions. Jack Ma said:
“There are still 1.7 billion people in the world who have no bank accounts, but most of them have mobile phones. The impact of blockchain on the future of humans may be far beyond our imagination”
“Using blockchain to achieve cross-border remittances is one of my most concerned projects in the past six months.”
So this is only the beginning of an era where remittance services can be an easy thing to do in the whole world. Hong Kong and the Philippines are just the pioneer’s hosts. And yes, again, it will be interesting to see how it affects Ripple as the project settles down. Stay tuned!
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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.
Image courtesy of Hinglish Notes via Flickr
How Cryptocurrencies Will Change Online Gambling in the Future
Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.
An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.
A Post-Legality Era
Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.
In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…
VOLUM (VLM) Announces Commencement of Token Generation Event
ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.
Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.
The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.
“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…
How to Secure Yourself in Relation to Bitcoin: Top VPN Services
Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.
Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.
What is a VPN?
Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.
While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.
Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…
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