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

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Ripple XRP
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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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Altcoins

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

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Aluna.Social
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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,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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