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Stellar-backed IBM project in a wiry rivalry with Ripple - Global Coin Report
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Stellar-backed IBM project in a wiry rivalry with Ripple

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Stellar Ripple
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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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Top 4 Cryptocurrencies to Bet on in 2019

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The crypto winter ended and Bitcoin is breaking through the $5000 resistance barrier and leading a general charge in bullishness among cryptocurrencies has seen more positivity in the market than ever before. However, before any talk of a crypto spring should start, we need to look at what happened during the winter.

Many different platforms were either fully released or improved upon significantly. There has been a surge of innovation and the crystallization of ideas. The market isn’t just about crypto trading or bitcoin trading; it has become more about what businesses will leverage blockchain in the best way. Investors need to look at what a coin offers beyond just being a cryptocurrency. What partners does it have, what is the long term plan and is it liquid enough?

Investing in altcoins has never been a better option than right now. The volatility index shows that the market is growing without having to rely on Bitcoin. While Bitcoin still determines and up or down trend, the altcoins do not follow this trend exactly. More and more tokens and coins are surviving and thriving on their own merits rather than riding in Bitcoin’s wake.

The four coins to follow are our pick for the top 4 cryptocurrencies most likely to give you substantial returns by the end of 2019.

Stellar Lumens (XLM): Cheap coin, and massive market to grow

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2019 Will Be a Big Year for Luxcore

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With the recent surge of Bitcoin in the last few weeks, many traders are hoping for a more profitable year than 2018.  Even if that comes to fruition, my advice over the past year remains the same.  Traders must look for companies and projects that offer blockchain solutions with real-world use and complete transparency.  One company that meets both of those requirements is Luxcore (LUX).

What is Luxcore?

Luxcore is a blockchain solutions and services ecosystem that focuses on developing security and privacy products.  The Luxcore platform utilizes the PHI2 algorithm powered blockchain to build a wide variety of product offerings.  One of the platform’s primary goals is to help close the gap between regular consumers and enterprise users by introducing specific use-cases for each group of users.

Exciting Roadmap for 2019

As mentioned earlier, one of the absolute requirements of building a successful blockchain project is to be fully and completely transparent.  Luxcore certainly meets that requirement with the introduction of their most recent roadmap.

The roadmap does a great job of showing which projects are in development, how far along each project is, and the expected completion date of each project.  With this, LUX traders and potentially interested consumers can follow along and monitor the status of projects that they are especially interested in.

Since many crypto projects have inevitably disappointed the market, offering…

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Can XRP Break Out of the Falling Wedge?

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XRP
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XRP is the third largest cryptocurrency by market cap, which currently sits at around $13.5 billion. The coin also has a price of $0.325316 at the time of writing, after seeing a significant price correction of 4% in the last 24 hours.

Just like many other cryptocurrencies, XRP has seen massive losses during the 2018 bear market. However, this falling wedge seems to have seen a real breakout in 2019, as the crypto winter started to let go, and a lot of coins saw significant price recoveries.

XRP’s falling wedge was much more difficult to stop, which can be seen on its long-term chart. But, the recent bull runs allowed numerous cryptocurrencies to finally see growth, and XRP is definitely one of them. The charts also show that the coin’s falling wedge has seen a breakout, which is an excellent thing for the future of XRP’s price.

However, for the coin’s price to truly turn and stay bullish, XRP needs to see larger volumes. The experts believe that this is the key for a new rally, one which would allow XRP to reach true recovery.

XRP price performance and predictions

As mentioned, XRP had struggled to start growing even when most other cryptocurrencies were drawn in a number of bull runs. While the coin has been acting the same as others until mid-February, it is clear that the…

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