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

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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.

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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

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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.

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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.

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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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