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Here Is How Ripple (XRP) Will Change The Financial System From Within

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A while back, Ripple (XRP) was getting a bad reputation for its partnerships with Global Central Banks and other financial institutions. The theory behind the ‘noise’ against Ripple back then, was that collaborating with financial institutions was more or less an act of treason and a deviation from the written code of decentralization that is the backbone of cryptocurrencies and blockchain technology. Many were horrified that a crypto project was collaborating with the institutions Satoshi Nakamoto aimed at avoiding by introducing peer-to-peer transactions through the King of Crypto also know as Bitcoin (BTC).

But what if it was a ploy by Ripple to change the financial systems from within.

One is tempted to reference Sun Tzu and Art of War to justify the above statement, but doing so might make it sound like there is a hidden war between the crypto-verse and financial systems to extent of involving global governments.

But let us entertain the theory of working from within the system to change it.

The first way Ripple can change the financial systems from within, is the current partnerships the project has with 40 to 50 Global central banks and over 100 regular banks and money remittance service providers. All these institutions use the Ripple products of RippleNet, xRapid, xVia, xCurrent and XRP (in xRapid). Some, like Santander, have proven that xCurrent works for its fast OnePayFX mobile app. Santander has also announced that 50% of its international transactions are handled by Ripple.

This means that Ripple products on the blockchain, have managed to convince these traditional financial institutions that the Ripple blockchain ledger is the future of cross-border payments. Ripple technology has managed to completely replace SWIFT in some situations mentioned above.

Once convinced through Ripple, we might see the same financial institutions, particularly Central Banks, tokenizing their national currencies so as to keep up with the changing technologies brought about by cryptocurrencies and blockchain technology. China had earlier hinted about tokenizing the Yuan after the cryptocurrency hype caught on in the country.

What then might happen, is a futuristic Blade-Runner type of future where physical hard cash will be obsolete. Imagine that? We shall be walking around with crypto wallets linked to mobile apps and doing all transactions on the blockchain. Hopefully, by then, interoperability between the various platforms would have been operational.

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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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Altcoins

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

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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,…

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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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Altcoins

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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