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Stellar-backed IBM project in a wiry rivalry with Ripple

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Stellar Ripple

The concept of money transfer seems to be on a U-turn as blockchain technology sets to change the way cross-border payments get done. In this sense, Ripple is at the frontier of evolving money transfer and remittances, and it is now facing intense competition with a Stellar-backed venture by IBM.

It is necessary to know that IBM is almost trying to get the attention away from Ripple and lead the race to change the face of cross-border payments in the world.

At the moment, we now have SWIFT, Ripple, and IBM in the realm of cross-border payments. Nonetheless, SWIFT is still the most significant payment mean in the world, because it has more than 200+ countries registered on its network.

Also, SWIFT records more than a trillion daily volume on its transaction. Due to this fact, Ripple is garnering towards to mass adoption and getting a large percentage of SWIFT’s business.

At the moment, it has almost gotten about 50% of India’s payment means, with India’s biggest bank included. Also, it’s now the primary network for SMEs and the unbanked, thus, providing a faster and cheaper means for them.

Even though Ripple appears to be offering great services when it comes to cross-border payments, Stellar and the Stellar-backed project by IBM look all set to be competing with Ripple full-time.

Based on statements by IBM, its DLT-powered payment system seems to put more weight on Ripple to increase its reach, and increase the adoption rate to become relevant in the cross-border realm.

Our convening power brings together incumbent and FinTechs, ensuring collaborative innovation with data security, compliance, and consumer focus,” reads IBM’s statement.

A part of its press release states:

It all means funds can now be transferred at a fraction of the cost and time of traditional correspondent banking.”

On the IBM powered-solutions, the company has claimed it is managing about 60% of the world’s global transactions, and also offers BWW (Blockchain World Wire) which is a big launching pack, thrusting it to the World’s Financial Sector that is poised to increase by $2 trillion in the year 2020.

Just recently, IBM and Stellar revealed a proposal to create a transaction scheme for the South Pacific region with KlickEx. The recent news is seen as a new development for IBM.

IBM hasn’t stopped here as the company also announced the launch of Stronghold USD – a United States coin that runs on Stellar protocol.

Both Ripple and Stellar look alike as both assets offer the same services, but stellar is open-source, and it is not owned by anybody or persons, unlike Ripple (as the company is alleged to be the one who owns XRP tokens in mass quantity).

Nonetheless, the level of negative hype around Ripple is likely because it’s price is below what it used to be. At the time of writing, XRP is priced at $0.268 and in the red.

Nevertheless, XRP is still recognized globally, and it will continue to be a major company to foster cross-border payments to the world. At the moment, Ripple needs more creativity, plans, lots of adoption to be the leading solution and beat Stellar-IBM combo. Only the time will tell who wins.

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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.

Photo by CloudVisual on Unsplash

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My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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3 Reasons Why Liquidity Dividends Protocol (LID) Will Be a Huge Winner

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Liquidity Dividends Protocol

Since 2017, cryptocurrency has experienced both the crazy highs and the crazy lows with fortunes being made and lost overnight.  That volatility is one of the main reasons why cryptocurrency has been relatively slow to gain mass adoption.  In addition to volatility, another concern for many is the lack of security and regulation in the market.  This can be seen through the countless exchange hacks and rug pulls that seem to occur on a weekly basis.  In order for cryptocurrency to move into the next stage of maturity and bring on mass adoption, investors and users will need to feel secure knowing that their funds are safe.  One promising organization that may have the perfect solution is Liquidity Dividends Protocol (LID).

What is Liquidity Dividends Protocol?

Liquidity Dividends Protocol is an up and coming organization that provides locked liquidity services to cryptocurrency projects that launch their offerings through ERC-20 tokens.  It lets non-custodial pre-sales lock liquidity of a token in a trustless manner through Uniswap.  This locking process will prevent every investor’s worst nightmare of seeing their hard-earned money disappear through “rug pull” scams that are designed to remove liquidity out of DeFi projects.

This year has seen an explosion of interest in Uniswap and DeFi projects.  Many investors have generated enormous returns on investments, but many have experienced the pain of being duped.  Below are three reasons why LID Protocol is poised to be a massive winner in…

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