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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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Ripple

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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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