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Here Is How Ripple’s Software Solutions and XRP will Be Used By Banks on a Global Scale

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In a recent Ask Me Anything session, Ripple’s new CTO, David Schwartz was interviewed by the firms Senior V.P of Product Management, Asheesha Birla. When asked whether he sees Ripple and XRP becoming the new technology that will take banking to a new level, Mr. Schwartz answered that.

“I think we’ve got the underlying technology heavily optimized for a payments use case and closely related use cases that involve movement of value…with what Ripple’s doing on the banking side, we’re trying to position XRP as a sort of intermediary asset that can provide liquidity between other assets.I think if those efforts are successful that’s gonna be a reason to use that asset if it’s more liquid and if it’s cheaper to transfer.”

Similar sentiments were echoed by Emi Yoshikawa, Director of Joint Venture Partnerships at Ripple, during a TechCrunch event in Hangzhou when she was quoted as saying the following:

“People tend to think that blockchain is a threat to existing financial services, but it’s not always the case. We are providing solutions to help banks become better, so they can provide better services to their customers.”

These solutions include the following:

  1. xCurrent – a software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. xCurrent is currently being used by Santander and American Express
  2. xVia –  a simple API for corporates, payment providers and banks who want to send payments across various networks
  3. RippleNet – a decentralized global network of banks and payment providers using Ripple’s distributed financial technology. The current members of RippleNet number over 100 with a few notable banks such as UBS, RBC, UniCredit, Standard Chartered and more
  4. XRP – digital currency that offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments
  5. xRapid – for payment providers and other financial institutions who want to minimize liquidity costs while improving their customer experience

Also to note is that the new Senior V.P at Ripple for Business and Corporate Development, Ms. Kahina Van Dyke, has a track record of securing global partnerships during her tenure at facebook. Similar partnerships are probably in the pipeline at Ripple as the company plans on entering the uncharted regions of Africa and Asia. The company has already established itself in India.

Summing it all up, the Ripple payment software solutions and XRP are slowly but surely changing the banking industry in a big way. In the future, a majority of global banks will be using their products or XRP in their operations further boosting the global adoption of Ripple payment solutions as well as XRP.

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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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