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Can Ripple (XRP) replace the dollar?

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Ripple XRP

When the CEO and founder of Ripple, Brad Garlinghouse was asked by her mother (who lives in Kansas) that what he does, he was at pains to go in detail what he and Ripple (XRP) sell. He simply answered that he sells software to financial institutions and banks. Simple, right? Well, not as put. Most financial services startups fall into one of the two sides: those who want to save themselves from banks and those who want to compete with banks. Ripple (XRP) on its side is a rare exception; it wants to do both.

Ripple (XRP), a transaction protocol and platform that is designed for remittance and coinage exchange, was developed with the aim to make online cross-border remittance instant and almost free of charge. Although new in the cryptocurrency sphere, Ripple has more than 100 global financial institutions, online payment service providers, and banks that have adopted their platform into their systems.

Value of Ripple (XRP)

Being the virtual currency of choice for financial institutions and banks, Ripple is without a doubt one of the most stable virtual currencies in the world today.

Since its entry to the stock exchange, XRP has been struggling to hit impressive prices, During the first and second quarter of 2017, Ripple’s value started to soar after hitting an impressive $0.4 per coin, after a short while Ripple prices fell by more than 50%. Afterward, Ripple (XRP) has gone through a hasty price surge to $3. The digital currency trades at $0.53998 currently; it increased in value by 1.79% in last 24 hours.

History of Ripple

Launched by Ripple Labs, a California-based company in 2012, Ripple has become a model for several other payment systems. With a platform with an open-source solution and a code that is publically available, the Ripple platform consists of decentralized personal computers same as Bitcoin platform. There is no designated server in place to govern and register individual settlements. The platform verifiers with personal computer software connected to the Ripple (XRP) network.

Ripple vs. the USD

What are the dollars in your wallet? It is a government printed paper that has been decided by the Government to be the legal tender for individuals as well as businesses to use to pay for goods and services. This government print is also known as fiat currency; this fiat currency is money that is used but not always backed up by any physical paper these days.

Government-issued cash is not fixed at a price by any principle standard unless the argument is that the US dollar is the principal standard.

Today, the dollars in your wallet was worth less than five years ago, and six years ago they were worth far less than what they were worth twelve years ago. Time diminishes the purchasing power of the government print in your wallet.

In the last few years, virtual currency or cryptocurrency has been revolutionizing how we exchange value. It is more like how Gmail disrupted the post office breaking the value chain and lifeline of post offices by making stamps to send letters irrelevant and a thing of the past.

Cryptocurrencies and more so Ripple (XRP) because it’s the chief digital coin involved in financial matters is a bank-less bank that is undoubtedly disrupting the economic front and the influence of the US dollar.

It will take the time. But as the time passes, we can expect Ripple replacing the US dollar to become the preferred medium of exchange by individuals, businesses as well as a financial institution in their everyday transactions and how they transact with each other on a daily basis.

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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 Pxhere.com

Altcoins

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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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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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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