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Financial Giants to Tie up With Ripple (XRP) in 2018

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As evident from the talks that are circulating on the web, the financial institutions are not quite impressed with the crypto hype. With many reputed banks adopting blockchain technology to expedite financial transactions, cryptocurrencies have become a threat to the traditional banking systems. OpenCoin, Ripple’s regulatory body, has mentioned in an interview that it intends to do “for money what the internet did for all other forms of information.” Powered by the open-source C++ application called rippled, Ripple has attracted the attention of many eminent banks in the past. Considering the activities that have taken the market by storm and financial institutes inching towards Ripple (XRP), 2018 looks like a promising year for Ripple.

Ripple’s Advanced Security Features

Supported by top-notch security features, Ripple comes across as a major threat to the banks. Ripple’s regulatory protocols are pretty tight, as it actively regulates who can have access to modify the official server codes and ensures that the codes are audited. The rippled source code is digitally attested by the regulatory body to ensure full security of funds. What’s more, all sensitive data pertaining to the release are provided through a secure website that also gives the commit ID of the repository.

From the inception of cryptocurrency, digital currencies are in competition with banks. This is especially valid for Ripple, which serves as an open-source transaction network.  As aptly pointed out by ShidanGouran, the President and COO of Global Blockchain, “If big banks were to succeed in crushing one of these two currencies, Ripple would be it.”

Anyone who is updated with the recent developments in the market is aware how the trends are changing, as the banks are finally warming up to the concept of incorporating blockchain to regulate economic transactions. Darren Marble, CEO of CrowdfundX reveals, “I believe banks are keeping a close eye on Ripple. This isn’t going to happen overnight.”

Japan Welcomes Ripple

A little ahead of the G20 meeting, a meeting where central banks of the affluent countries of the world assemble to discuss global economic stability, Japan arranged a round-table conference with the central banks. The representatives of the central banks and regulatory bodies speculated digital assets and regulations.  The meeting, which was scheduled for March 8 and March 9, was hosted by the Japanese Financial Securities Agency (FSA), which initiated a multilateral research on blockchain technology last year.  The regulations can be a roadblock to the successful implementation of Ripple (XRP) in the banks. However, if the rules and regulations pave the way for Ripple, it can actualize its vision of revolutionizing financial transactions with XRP.

Ripple Waves in China

On the issue of Ripple’s entry into the Chinese financial institutions, SagarSarbhai, Ripple’s Head of Government and Regulatory Relations for the Asia Pacific, has reported, “We’re trying to get some regulatory clarity, we’ve started engaging informally with banks, FIs and payment providers, speaking to regulators and government bodies, trying to educate on what Ripple is and what our vision is.”

As revealed by the sources, Ripple has already secured licenses for XRP integration into the fintech firms. With the governments exploring blockchain technology for promoting faster transactions, 2018 seems like a big year for Ripple.

Final Thoughts

Many institutions have adopted with the blockchain technology in the past, fostering innovation. At the onset of the budding enthusiasm from the investor, the union of financial giants with the crypto technology is not entirely implausible.  While implementing blockchain in the banks is nothing new, the idea of replacing fiat currencies with their digital counterparts is still not fully ripe. Overall, with XRapid tying up with Ripple and big names like SBI and Codius disclosing their plans of latching themselves to Ripple, 2018 is transmogrifying into a promising year for XRP.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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 Mike Mozart via Flickr

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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