Connect with us

Featured news

Strategic Accounts Head of Ripple on how XRP will play a key role in liquidity provisioning

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

In today’s world, technology and intense rivalries play a vital role in the invention of new things that are refining the way digital money move from place to place. However, growing customers’ expectations and anticipations are also changing the outlook of digital commerce today. That’s exactly what Ripple has been doing lately (causing headache to the competitors).

Nonetheless, one question happens to come to the mind and that is, which of the financial transactions – be it cross-border transactions, government and customers’ disbursements – have the greatest possibility to be digitized? This has been one of the key points of the recent Citi Digital Money Symposium organized by Citi Bank.

It is important to know that banks of the future were also discussed and if the global financial world needs banks or just banking services. During the course of the Digital Money Symposium, Marcus Treacher, Ripple’s Global Head of Strategic Accounts, was interviewed by Elena Anisimova, the VP, Private Company Access & Advisory at Citi Bank.

As we know, Ripple is a digital asset and a real-time cross settlement platform created on an open-source internet protocol. Also, Ripple enables fast and secured cross-border remittances, which are almost free. However, Treacher also purports the fact that Ripple is making sure money transfer is changed. During the interview, he said:

What we (Ripple) are trying to do is to re-work how banks move value between each other and we always work with banks. We have a strong partnership with the largest banks in the world which we are using to work with us to really build-out our solution to benefit the banks and Ripple.”

Blockchain technology has the ability to change money transfer. Even though this technology hasn’t been adopted as it should be, due to the fact that it is still in its juvenile stage, but many people are beginning to acknowledge its ability to change the world.

With that in mind, banks are more concerned about blockchain than cryptocurrency itself, and Ripple’s Treacher had this to say during the interview:

Banks are focused on blockchain because that’s where the increase of the value that can be provided for their end customers in terms of efficiency, speed, accuracy, and awareness. It all kicks in using blockchain technology and in Ripple’s case, its net of value version of that creates a significant value of proposition for their customers worldwide.

Strategic Accounts Global Head of Ripple further went on to say that,

The digital asset element really comes into play in the financial services contacts for managing liquidity and flows between different value stores in different fiat currencies. What I mean to say is that, if you are moving Dollars to Euro, both currencies are very high liquid currencies and can move very quickly.”

Marcus Treacher continued,

“If you happen to fund a currency which is ‘illiquid’, then that’s a difficult proposition for a company which happens to buy goods in that country or pay people in that country. In that case, using a digital asset to fund these accounts when required – ready for payments to happen, is a difficult proposition.”

Concerning how digital asset (XRP) will play a major role in providing liquidity, Treacher concluded:

So there are two levels of value, one is the immediate payment, which is the blockchain value. While the second is the delivery of liquidity, which is really where we see one of the major value of propositions for the digital asset in the future.”

For the global insights every crypto trader must have, apply for Elite membership!

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.

[Photo, Elena Anisimova of Citi Bank (left) with Marcus Treacher of Ripple (right). Source, citibank.com/icg/sa/digital_symposium/2018]

Currency Market

Policymakers on crypto regulations during Ripple Swell and the effects on the market now

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

The concept of blockchain has changed the outlook of the world’s financial systems. The world’s financial system has come to embrace the blockchain technology concept. But the means of which the world’s financial policymakers should handle cryptocurrencies was one of the major discussion during the recent SWELL conference held by Ripple.

We should, however, note that blockchain technology came at the time when the world’s financial system wasn’t efficient as much. Right now, blockchain technology is aiding quick transactions and cross-border payments around the globe – thus, we can say blockchain technology is revolutionizing the world. But to this end, the increased jeopardies and the unfortunate happenings in the crypto-space is making blockchain an unsafe haven.

But, there were a couple of positive views put on the table by lawmakers during the Ripple SWELL conference this year, which has started to show some positive effect now.

The discussion between policymakers during Ripple event

At the SWELL conference, different discussion sessions were done. But the session dubbed “Crypto Regulation Around the World” involved experts and policymakers in the crypto space featuring the executive from Abu Dhabi Global Market, Richard Teng; former attorney from the SEC (Security and Exchange Commission) Compliance Inspections and Examination office, Michael S. Didiuk; Anchari Suppiroj of Thailand’s Security and Exchange Commission (SEC); and Ross Leckow, the deputy general counsel from the International Monetary Fund (IMF).

From the Ripple SWELL conference 2018, Abu Dhabi and Thailand…

Continue Reading

Currency Market

The race for No. 2: Ripple’s XRP is growing, and Ethereum is shrinking. Why?

Published

on

Ripple XRP
READ LATER - DOWNLOAD THIS POST AS PDF

Over the last three weeks, Ripple’s XRP cryptocurrency has been raising in price slowly but steadily. As we write this article, it’s trading in green numbers at $0.422 even during the current bearish run of the market, which means despite regular market dips, it’s doubled its price in a relatively short time.

Moreover, for some days during the recent period, it’s been the world’s second coin, beating Ethereum. But will that be consistent? Should Ethereum be worried? Well, maybe. Ripple advancements and XRP’s massive growth is undoubtedly putting Ethereum’s dominance in question.

Ethereum came live in 2015, and it quickly became the most crucial blockchain in the world, second only to Bitcoin. It became the dominant platform for smart-contracts and many of today’s most exciting blockchain technologies came to life using Ethereum’s operating system (Tron and EOS are the primary examples).

But now, Ripple (XRP) grows while Ethereum is shrinking

Before this September 18th, the gap between ETH and XRP was huge. Ethereum’s market value more than doubled that of Ripple’s. As we write this article, the difference among both assets is around three billion (17 vs. 20 billion). If things keep moving in the current direction, this gap could close down, and even reverse in the next few weeks, if not sooner.

The recent XRP bullish run is the highest it’s ever had. It went up by 200% in fewer than four days just a couple of weeks…

Continue Reading

Altcoins

Cardano (ADA) research manager meets with Brazil representatives

Published

on

Cardano ADA
READ LATER - DOWNLOAD THIS POST AS PDF

Cardano is one of the top crypto assets in the market today. With its visionary team, it has become robust in creating projects that not only benefit its blockchain but the world.

Its CEO, Charles Hoskinson, also the founder of IOHK, has also been focused on making sure Cardano’s utility spreads across countries. It is important to know that IOHK, the team that has developed Cardano’s blockchain was created in 2015.

IOHK is a reputable digital company that is poised in making use of peer-to-peer innovations to provide financial services to more than 3 billion people that don’t really have access to them.

As part of the plans by the Cardano’s team to provide great innovations for providing financial services to people worldwide, and empower countries across the world, Cardano’s research manager, Mario Larangiera, met with Mario Borges, the President of the Brazilian National Council for Scientific and Technological Development (CNPq) in the Brazilian Embassy in Tokyo, in Japan, to talk about the future of Brazil.

Mario Larangiera tweeted on his Twitter page:

Meeting with Mario Borges the president of the Brazilian National Council for Scientific and Technological Development (CNDq) in the Brazilian Embassy in Tokyo. In Japan but thinking about the future of Brazil.”

Moving forward, it is important to note that Cardano is poised in making great systems for financial services of the world, and it is taking a wise approach with its collaborations.…

Continue Reading

Trending