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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
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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

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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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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Hodium
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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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