After the long-awaited system in the market, finally, clients who enjoy transacting money using the digital platform can now rejoice after the alleged Ripple partner and Pan European infrastructure, Target Instant payment settlement is expected to go live next month, November 2018.
The European Central Bank is the leading financial institution for European countries administering monetary policies in the European block, which is comprised of 19 EU member states. The Euro is currently one of the strongest currency in the world.
The great news came from Equens world Line, a pioneer with the primary objective to deal with instant payment and money transaction operations. Giving the story on their tweeter account, they informed the followers on how they were going to go live in next month and continued to advise the followers on the expectations, and how the innovation is going to revolutionize Europe when it comes to technology.
— TARGET Services (@TARGET_ECB) October 23, 2018
The primary purpose of Target instant payment settlement will be to create an instant payment system all over Europe using the central bank as a channel to regulate the transfer of settlements enabling the transmission of digital money across the border and Europe as a whole. And as ‘instant payment settlement’ term is attached to the service, multiple anonymous sources have reported that they have turned to Ripple blockchain.
Some of the benefits of the system will include no minimum wait during the transaction process, available transaction settlement all over the clock for its customers hence clients can access their finances throughout and make payments with ease of any delay. The surprising fact about the instant payment system is that it allows the currency to be settled in the bank at any time creating an all-time all access system.
The will also be an elimination of time wastage between the client and the bank as the financial system money transactions will be updated instantly avoiding any credit risks among the clients (another hint of Ripple involvement, right?
That’s exactly what the blockchain project has been pushing to do to banks). In addition to that, all the service providers could now be happy as they will be reachable without actually opening an account with TIPS. Hence one can be a non-member and still operate using the settlement system.
Consequently, the instant money payment settlement scheme will allow the movement of currency from one financial provider platform to the other without the need of any clearing services. These clearing services could be the main reason why there was a delay in the transaction in the traditional system payment systems. This system is an improvement from other conventional methods that one had to do the clearing before the settlement takes place.
After the announcement, some people were very excited and took to Twitter for replying to the great news. Understandably, some followers thought that it was Ripple instant payment system.
TAS Group + Ripple = TIPS 🚀🚀🚀🚀🚀🚀🚀🚀
— DommyWommyWoo (@DomWhitecross) October 24, 2018
The euro system decided to incorporate TIPS due to its fantastic experience to incorporate payment settlement and matches its object that is to enable innovation and extension regarding technology to the European countries. Even if Ripple is not involved in this case, the fact that the central bank is regulating the system is a big win for the cryptocurrency sector as now more people will be willing to transact money globally without fear of insecurity.
The leading institutions that are going to benefit from this move in December are the credit institutions that ate implemented and situated in the European economic region or outside the area provided that they operate through an institution run by the European economic region and all national central banks of the European Union.
Although it will use euro for settlement, this will be one of the most significant milestones that could ever happen in euros technology concerning the world of digital currency. The involvement of Ripple blockchain is yet to be confirmed, but the nodes match quite well.
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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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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…
Is it legal to gamble in Bitcoin casino?
Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.
Key facts on Legality in Bitcoin casinos
Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.
The necessity of Gambling License for Bitcoin casinos
In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.
There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…
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