Connect with us

Altcoins

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

Published

on

LG Ripple Stellar
READ LATER - DOWNLOAD THIS POST AS PDF

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.

Check out the latest video from our Editor-In-Chief, on the Crypto Rich show!

For the latest cryptocurrency news, join our Telegram!

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.

Image courtesy of Wikipedia Commons

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

Published

on

collateralized debt position
READ LATER - DOWNLOAD THIS POST AS PDF

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…

Continue Reading

Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

Published

on

Hodium
READ LATER - DOWNLOAD THIS POST AS PDF

I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

Continue Reading

Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

Continue Reading

Elite