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How Ripple (XRP) xCurrent is Boosting American Express Transaction Speeds

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Back in December and amidst the peak period of the cryptocurrency ‘mania’, Ripple (XRP) and American Express ‘shook hands’ in a partnership that was one of the many that highlighted that period. Other Ripple partnerships announced in December were with Santander, Western Union, and Moneygram.

In the case of American Express, not too much was disclosed in terms of which Ripple software solution was going to be used with their payment processes. All speculation hinted at xVia or xCurrent. But a recent news development has revealed that it is indeed xCurrent that American Express is using. This is the same software solution seen to power Santander’s OnePayFX app.

What is xCurrent?

xCurrent is Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking. Using xCurrent, banks message each other in real-time to confirm payment details prior to initiating the transaction and to confirm delivery once it settles.

How is it helping American Express transact better?

Representatives of both Ripple and American Express were at the recently concluded Money 20/20 event in Amsterdam. In one of the panel discussions, they talked about the payment challenges faced by SME’s (Small and Medium Size Enterprises). Ripple products were identified as being the best suited to solve the issues faced by such businesses.

American Express also understands the payment challenges faced by SME’s for their cards are used at most POS (Point of Sale) systems owned by the same businesses. Marcus Treacher, Ripple’s SVP of customer success, explained that:

“The consumption of Ripple technology is not a heavy lift for SMEs. This is because we’re implementing within the existing payment networks and banking world.”

This was in reference to the fact that American Express integrated xCurrent into its already existing infrastructure for global payments. This means that transactions done using AMEX cards will be as fast as those witnessed in the live demonstration of Santander’s OnePayFX mobile app.

In conclusion, American Express has clarified what Ripple product is being used to make payments on their platforms faster and more efficient for its customers. This means that xCurrent is gaining strides and real-life problem-solving situations as can be seen with both Santander OnePayFX app and now, American Express.

Colin O’Flaherty, American Express’s VP & General Manager of global commercial services UK & Russia, best summarizes this when he was quoted as saying:

“We’re still in the early stages, learning a lot. And blockchain offers a big opportunity to solve real customer needs.”

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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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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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