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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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