LG to compete with Stellar and Ripple in the remittance payment sector - Global Coin Report
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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.

Image courtesy of Wikipedia Commons

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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

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Aluna.Social

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.

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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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip

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.

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