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Is XRP a security? No. Ripple Chief Marketing Officer speaks his mind

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Ripple XRP

It is highly probable that you have the same dilemma everybody has been having these days, is Ripple a security? Well, much has been said regarding the fact that it has created a lot of concern among crypto enthusiasts and investors. In fact, at a certain level, Ripple (XRP) has been experiencing a little bit of friction because of this, and many asseverate that it actually can go further if rumors continue that the token will be classified as a security by the Securities and Exchange Commission (SEC).

Nevertheless, despite the big wave of comments still, nothing has been said that somehow clarifies the issue, and so it continues the tension among users. It is because of this that the Chief Marketing Officer of the crypto startup decided to put an end to the controversy. Let’s read through his explanations.

The key difference between Ripple and XRP

Most of the confusion that surrounds the issue centers in the fact that both Ripple and XRP are used indistinctly to refer to the same entity, but the truth is Ripple and XRP are actually different things, and so they should be treated (and mentioned) separately from the other. This said, let’s differentiate the two names.

Ripple is a company in charge of creating different technologies to provide solutions for the financial industry, more specifically, solution platforms for sending money across the globe. On the other hand, XRP is a digital asset that functions on an open ledger backed by blockchain technology. In fact, the company defines it as follows:

“Ripple is a software company that uses XRP and the XRP Ledger in its product, xRapid.”

Like this, the picture is a little clearer but what we can not forget is that one of the things that most of the people point when mentioning that XRP should be classified as a security is that Ripple owns at least 1 billion dollars in XRP, a fact that suggests that the token is somehow centralized. Nonetheless, the company has emphasized that the XRP ledger cannot be owned or controlled by a specific entity, and this includes any of the investors and Ripple Labs as well.

Regarding this, the Chief Marketing Officer of the company stated:

“XRP is a digital asset that trades on its own that’s owned by lots of people in lots of places. We happen to own a lot of XRP – we own a lot of cash, chairs, and computers – but the company is called Ripple and we sell software.”

This distinction results very interesting, most of all because it gives us an amusing point of view regarding the recent accusations against Ripple and the way they “control” the cryptocurrency they own. However, as of now the only thing we can do is wait for the SEC to stand a position on the issue, which if it happens would involve the execution of the Howey test to determine the status of the crypto.

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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.

Image courtesy of Maxpixel.net

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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