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LG to compete with Stellar and Ripple in the remittance payment sector

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LG Ripple Stellar

When it comes to sending remittances across the globe, we can all agree that the system is pretty much a complete mess. Sending money across borders can take an enormous effort since it usually takes numerous days, incredibly high transactions fees, and of course, the presence of a middleman in each operation.

In this sense, we are very much familiar with names such as Ripple and Stellar, two of the crypto-related companies that are fighting closely to resolve the current issues of the remittance services and spread their solutions around the world. However, is there any other name out there seeking to address the same problem?

As a matter of fact, there was actually not any other firm seeking to implement a solution to the problems that the currently adopted system, SWIFT, possesses.

Nevertheless, a new name has appeared in the landscape, and even though the company plans to use the blockchain, it was not at all involved with the crypto world till the moment. Let’s discover the main details behind this.

LG Uplus joins cross-border remittance service platforms

LG Uplus is the mobile wind of LG; the company has recently announced that it signed an agreement with different partners from Taiwan, Japan, and United States of America to build a service in which subscribers will be able to utilize a blockchain platform for oversea payment services.

With respect to this, it was known on Sunday that the company is planning to launch the service trial in the first quarter of 2019, and for this, it would use the ability of a multip-carrier blockchain platform labeled as cross-carrier payment system (aka CCPS).

Also, once the platform is ready, it will be open for subscribers from different carriers, an advanced and groundbreaking service never seen before in the region. About the partners mentioned above, it was known that EasTone Telecommunications would be the Taiwanese collaborator, while on the other hand, SoftBank would serve as the Japanese one. As for the American partner, TBCSSoft will serve as the plan maker of the business idea.

LG Uplus will give the opportunity to subscribers to make purchases whenever they travel from Taiwan to Jana, or from Taiwan to Korea. Concerning this, the mobile service unit director at LG, Joo Young-Joon, stated that “customers will have the benefit of an overseas payment system based on convenient, economical and secure blockchain technology.” He added we would not stop there, at “LG Uplus we will continue to develop new business opportunities with CBSG blockchain and global telecom leaders.”

Conclusion

It seems now that Ripple has some work to do to avoid staying off the picture. Undoubtedly, the company has made great efforts to develop and implement a solution for the problems of SWIFT, but still, there’s a lot to do in this matter.

On the other side of the equation, as more companies decide to attack the problem, we could be seeing a not-so-distant future in which high costs, slow transaction speeds, and middleman absence would be a reality in remittance service. So the way to go LG.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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