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Jack Ma’s AlipayHK Launches 3 Sec Mobile Payment Option To Rival Ripple

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Ripple
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The thing about business and technology is that you can never get too comfortable at the top for someone somewhere is also working on a similar concept and plans to make it better. This is the case with the current launch of Ant Financial’s first blockchain-based electronic wallet that enabled payments from Hong Kong to the Philippines in 3 seconds. Ant Financial is Alibaba’s payment arm and has teamed up with Standard Chartered and GCash to launch this service.

The first transaction using this service was done from the AlipayHK mobile App to a GCash wallet in the Philippines only 2 days ago on the 25th of June. This transaction was made by Mary Grace, an overseas Filipino worker who regularly transfers money to her family and friends. Such a transaction would take close to 10 days, but now it is a matter of seconds.

Ant Financial was quick to tweet about the achievement.

Anyone who has been in the crypto-verse during the last few months witnessed the buzz the Ripple powered Santander App created when it showcased a payment from the UK to the US in a similarly fast transaction. Ant Financial has now made the FinTech industry more exciting with Jack Ma as an unofficial crusader of the service.

Jack Ma’s vision is to provide access to banking services to the over 1.7 Billion global citizens with no bank accounts. These same individuals happen to own mobile phones. These devices can be used as avenues of accelerating banking services on the blockchain for them.

Jack Ma is quoted as saying:

“Blockchain should not be a tech to get rich overnight…There are still 1.7 billion people in the world who have no bank accounts, but most of them have mobile phones. The impact of blockchain on the future of humans may be far beyond our imagination.

“Using blockchain to achieve cross-border remittances is one of my most concerned projects in the past six months. Starting from Hong Kong, this service (AlipayHK) will be brought to the rest of the world in the future.”

One thing that has been the trend of prominent businessmen and women when they succeed in life, is their wish to spread their good fortune to others. This can be seen through Bill Gates, Oprah Winfrey and now Jack Ma. His vision of total inclusivity of banking services will be part of his lasting legacy as well as I divergence of how Ripple is first partnering with big banks. Jack Ma knows that micropayments are the future of remittance services as well as the vehicles of supporting families across borders as is the case with Mary Grace. Three cheers to Jack Ma!

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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 JD Lasica via Flickr

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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