Ever since we know Ripple, one of the most remarkable characteristics of the company has been the way it relates with the financial world, a fact that has put the company in the spotlight as the most extended payment solution for cross-border transactions.
To say the least, we’ve all been wondering how did Ripple manage to get this sort of attention from the sector in such a seamless way, and well, as it all seems, everything is starting to have a sense now considering the recent declarations of the current Executive Vice President at Mastercard.
An extract of the full interview has been published on Twitter on September 11th, and many speculations have been going around the subject, as people consider as well declarations may be someway altered.
However, regarding what the video exposes, the executive member at Mastercard says they were crucial support for Ripple back when they were only discovering what they could attain to. Let’s see the main details of the declarations given.
Colleen Taylor – currently Executive Vice President at #Mastercard – used to mentor #Ripple back in 2011 helping them scale with a spirit of generosity. Her mindset is "we have scale, you have agility and we can work together" pic.twitter.com/Y1TWsHl3jV
— Steven Bull Diep (@DiepSanh) September 11, 2018
A spirit of generosity is necessary
According to Colleen Taylor, Executive Vice President at Mastercard, it was back in 2011-2012 when Ripple came to their company to look for strategic advice for scaling their product.
Back then, the general sentiment for big companies was to be afraid of those starting as they conceived them as a potential threat. However, this was not the case for Mastercard which instead saw an incredible opportunity in Ripple’s proposal.
“We started making questions about the solution, and we actually recognized there was some gas in there.”
So when they asked me if I could spend a couple of days with them developing a strategic plan for their product, I didn’t hesitate. In fact, it was easy to see we could work together, as I saw it they had the agility and we had the scale, and that for me was the perfect match.
In this sense, Taylor admits that in today’s business it is quite different the approach that is being given to startups concerning guidance and mentoring.
“This idea of I have the scale, you have the agility we can work together bringing solutions to the market” is pretty much an adopted idea for several big companies now; she said. Nonetheless, is not only a matter of developing the idea, or improving the business plan, we actually need to help them scale, and “the only way to do that is through a spirit of generosity”
Beyond incubation what startup companies need is a program that guarantees them to be in contact with potential clients, a program that says “We are gonna get you in touch with real banks, financial institutions, and get you your first clients, so you get to scale”, that’s definitely the next step in mentoring.
For sure we can see now where it all came from when it comes to Ripple’s strength in the market, and undoubtedly we will continue seeing the company to grow and reach new levels. At the time of writing, Ripple’s (XRP) has a value of $0.2635, let’s see which side the coin moves in the coming days.
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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Photo by rawpixel on Unsplash
Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly
The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.
However, the community is now receiving security tips for storing cryptocurrencies from Tesla’s chief executive officer. While pointing the security of cryptocurrencies, Tesla also criticized Freewallet app, a crypto wallet for its slack in security.
He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.
Users should store their private keys
The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.
That makes securing the keys the most important thing when dealing with cryptocurrencies. As a result, selecting the safest hot or cold wallet is a priority if users want to keep their crypto investments safe.
Elon Musk has come out to advise investors to always store their private keys personally. For a company to receive the attention of the world’s richest man is something to take advantage of to grow. However, FreewalletApp’s short conversation with Musk is a sort of negative publicity to them.
After the company engaged with Musk about a Dogecoin-related post, the Tesla founder pointed out faults with the firm.
He advised digital asset investors to stay…
Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
Partnership Between Bridge Mutual & AllianceBlock Announced
Decentralized peer-to-peer discretionary digital asset coverage platform Bridge Mutual has announced a partnership with AllianceBlock. AllianceBlock is a decentralized, blockchain-agnostic layer 2 protocol bridging decentralized finance with traditional finance. The partnership will allow AllianceBlock and Bridge Mutual to provide traditional investors with a protected bridge to DeFi through decentralized coverage.
“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”
In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets.
By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards…