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Jack Ma's AlipayHK Launches 3 Sec Mobile Payment Option To Rival Ripple - Global Coin Report
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Jack Ma’s AlipayHK Launches 3 Sec Mobile Payment Option To Rival 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

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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