Connect with us

Don't Miss

David Schwartz: The Man Behind Ripple



David Schwartz

The co-creator of the 3rd most valuable and well-traded cryptocurrency, David Schwartz, is known as a “Gandalfesque” wizard of Ripple (XRP).

As Ripple’s chief technology officer, Schwartz wants to modernize and facilitate global money transfers, making them fast and safe.

In this ambitious challenge, Schwartz will disrupt SWIFT, which is the number one middleman in the international banking world. Though the company handles 25 million bank transfer messages every day and helps to perform $6.74 trillion worth of transactions, SWIFT’s network can’t be called efficient enough.

In the era of blockchain technologies, when Ethereum and Bitcoin can exchange millions in seconds, the majority of international bank transfers still take not less than 3 days and require additional fees. Sounds a bit odd and obsolete, don’t you agree?

Well, Ripple, powered by David Schwartz’s technological genius, is on a mission to lead international money transfers into a happy (and much faster) future. Ripple has introduced and attracted hundreds of the largest global financial institutions to test its new instrument, designed to change the whole procedure of traditional money transfers.

David Schwartz mentions, “We want to create a payment network like SWIFT. But one where the settlement, the actual movement of money, the actual plumbing underneath the surface, would be a decentralized, open network. The endgame is just money moving invisibly, as easily as information.”

Who is David Schwartz?

Quick facts about the guy behind the crypto:

  • A prototypical high school nerd, David always preferred chess over sports.
  • In the 1990s he graduated from the University of Houston with a degree in electrical engineering.
  • The same years he was awarded his first patent for a distributed computer network that he designed (20 years before the Bitcoin blockchain was invented).
  • In 2001, David started working at WebMaster, where he designed a cloud-based storage system.
  • Schwartz developed his knowledge of cryptography and consulted for the NSA (National Security Agency).
  • David runs a widely-read blog under the nickname JoelKatz (the same as his twitter handle @JoelKatz with 100,000 followers).
  • In 2011 Schwartz, looking for something new, joined the Bitcoin community. Together with the founder of Mt Gox bitcoin exchange Jed McCaleb, they shared the idea to create the NewCoin – a financial infrastructure that would consume less energy and reduce transaction time.
  • In 2012 Ripple was born.
  • In 2015 Ripple made the RippleNet Committee, consisting of 4 major banks that invested in Ripple’s payment technology.
  • With the bubbling excitement around cryptocurrencies in 2016-2017, by January 2018 XRP you could trade Ripple at $3.65 instead of $0.006 a year before. Ironically, David Schwartz is not officially listed as a co-founder of Ripple, despite being its major architect.

Today, Ripple has launched 3 products, including xCurrent, xVia and the latest one – xRapid. The product helps international banks to overcome their long-time problem, as they have to maintain multiple accounts in local currencies around the globe to perform money transfers. xRapid substitutes local currencies with XRP, which helps to lower the transactional costs and free up the capital involved. Ripple is aiming to make XRP the number one decentralized reserve currency, used by international banks.

The competition made SWIFT nervous and caused immediate action. They launched a Global Payment Innovation Initiative (GPI), as a non-blockchain alternative to perform payments in real-time.

Only time will tell, who will win this competition or, maybe, find the way to coexist successfully, gaining their own part of the market. Let’s wait a bit and see, whether David Schwartz, Ripple’s soul, will achieve his ambitious goal.

Important: If you trade CFDs on cryptocurrencies, including Ripple, please, bear in mind that many retail investors lose money when trading. You should consider whether you can afford to take the risk.

Image courtesy of Pexels

Don't Miss

How Cryptocurrencies Will Change Online Gambling in the Future



online gambling

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…

Continue Reading

Don't Miss

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…

Continue Reading

Don't Miss

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…

Continue Reading