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Major Factors That Would Make Starbucks Adopt Ripple In 2018

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No other currency performs to the same degree and on the same scale of usability as Ripple. With growing adoption and the potential for disruption, it is worth considering how Ripple could become an even more widespread and common means of payment. Starbucks is a key candidate for adopting ripple as a payment method in the near future.

Firstly, Starbucks receives roughly 1/3 rd of its orders from its mobile app. The fact that Starbucks customers are already familiar with the system of electronic payments could make Ripple adoption an easy option for the retail brand. Secondly, the CEO of Starbucks, Howard Schulz has a highly positive attitude towards cryptocurrencies and believes that integration of a cryptocurrency like Ripple would create a significant, long-term shareholder value for the company.

The following are the 3 concrete reasons behind why Starbucks, one of the most reputed coffee brands in the world, could start using Ripple as a means of payment by the end of 2018.

  1. Expanding brand reputation of Ripple: In spite of the fact that Bitcoin still enjoys the biggest brand name and market status, Ripple has been steadily earning a name for itself as the potential breakout candidate for one of the best-performing cryptocurrencies of 2018.The collaborations with billion-dollar companies like Moneygram and Western Union were huge, even if the impact did not reflect in the price of XRP. Ripple has been on the market since 2012, but it is only in the last year that the powerhouse image of the currency has emerged. Prior to that, most crypto enthusiasts and investors considered XRP to be vaporware, and Ripple as just a long-term start-up to add to banking technology. That has changed drastically in the last six months as the Western Union/Moneygram partnership testifies to the growing interest in XRP.

For a company like Starbucks to start using cryptocurrency, it would require significant market interest and some advantage to the customer base. Bitcoin seems to be the obvious choice on account of the fact that it is trendy, could reach critical-mass in headlines and give Starbucks a unique technological edge. However, this would change if Ripple also starts becoming a household name. At the very least, as Ripple continues to grow and more and more investors start dealing with XRP, it motivates big companies like Starbucks to tap into the consumer base of cryptocurrency.

  1. The usage of RipplePay

Starbucks is going to be hard-pressed to start accepting cryptocurrency as a means of payment in 2018. This opens the avenue for the development of an application, similar to LitePay, which allows Ripple holders to spend XRP however they choose without needing the merchant to reciprocate. This version of RipplePay would be a consumer and producer emphasized platform that gives crypto and Ripple enthusiasts a convenient, instinctive and universal method for using XRP as a means of payment. Merchants have the capability to deploy the technology as a payment processor on their end, enabling them to accept direct XRP payments that are convertible into fiat. Due to the various transactional advantages of XRP, the fees and back-end processing should favor both buyer and seller. One of the most underrated benefits of LitePay as processing platforms for merchants is the 1% transaction fee. Typical credit/debit card transactions require a 4% fee on behalf of the merchant. RipplePay could be hugely beneficial to both small and large business organizations. Smaller merchants, independent bookstores, coffee shops, online merchandising, would benefit from the low fees, while also having the flexibility to tap into an enlarging into a consumer base.

  1. The transactional utility of XRP: Ripple is a cryptocurrency with one of the highest degrees of usability in the cryptomarket. While the parent company Ripple has yet to place the coin as a form of  person-to-person digital tender, the utility of XRP in transactions applies strongly to this use-case:
  • Extremely low-cost transaction fees: Current fees for sending XRP are extremely low and will continue to be sufficiently low such that fee becomes essentially negligent.0.0001 XRP is consumed during each transaction which is relatively much lower than Bitcoin, Ethereum, and Litecoin. Even if XRP manages to attain the distant target value of 10 USD per coin, that equates to 1/100th of one penny per tx. There is almost no chance for the fees of XRP to become an obstacle to conducting transactions. Thus Ripple becomes the most obvious choice for consumers looking to spend cryptocurrency in the same way that they would spend traditional money.
  • Extremely high transaction speed: In order to gain widespread acceptance, cryptocurrency has to reach the same level of convenience as Visa. Until that happens, the main attraction for owning and holding cryptocurrency is just price speculation and appreciation. Without both utility and usability, nobody would be enthused about adopting crypto. The transaction process has to be as smooth and effortless as it is with tangible cash. Ripple has a current transaction time of under- 10 seconds (aiming for under 5-seconds) which would equip it with Visa-like usability.

Conclusion

Ripple has its target set on the financial industry, but it shows great potential to be adopted by the consumer/retail sector as well. If Starbucks starts to adopt Ripple, this will help the company garner a lot of attention in the press. As a result, competitors of Starbucks in the retail market would also start cashing in on the trend and it would be a landmark step in making cryptocurrencies win mainstream adoption.

We will be updating our subscribers as soon as we know more. For the latest on XRP, sign up below!

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 Hamza Butt 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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Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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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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