Ripple is working closely with MoneyGram and Western Union to eliminate as much friction as possible from international remittances for customers. Stellar Lumens is doing the same, except they’re working with European remittance services. This ancient service, when powered with blockchain technology, becomes state-of-the-art. Transactions are completed in minutes for a minuscule fraction of the previous cost, and they’re exceedingly safe.
That’s why the cryptosphere has caught KNOMAD’s attention. It’s invited, Dilip Rao, Ripple’s Global Head of Infrastructure Innovation, to deliver a seminar at the World Bank Main Building (room 13-121 in case you’re interested) to discuss the way in which Distributed Ledger Technology (which is what non-geeks call the blockchain) is upending the way money moves across the world today.
This is a huge moment for both Ripple and the world’s crypto community. A prestigious humanitarian organization which has nothing at all to do with finances, math, computer science, or any of the disciplines commonly linked with blockchain technology is taking an interest in the way in which cryptocurrencies and chains of blocks can make life better, cheaper, more accessible to one of the most vulnerable groups of people in the globe, the migrants.
Ripple, Dilip Rao
Global Head of Infrastructure Innovation,
To Speak at knomad Migration and Remittances Unit
In Social Protection and Jobs Global Practice
cordially invite you to a
Thursday, November 29, 2018 pic.twitter.com/F8dAIo6U18
— ???????????????? ???????????? (@BankXRP) November 28, 2018
It means that the world at large is finally starting to notice the inherent advantages in blockchain technology and it’s losing the fear it’s had so far to adopt them and make them work. Or, to put it another way, crypto is, at last, starting to become reputable.
KNOMAD’s website defines the organization in these words:
“The Global Knowledge Partnership on Migration and Development (KNOMAD) is a global hub of knowledge and policy expertise on migration and development issues”
It’s a brain trust that serves the global migrants all around the globe. It’s inclusive, open, multidisciplinary. It aims to create a knowledge partnership that policymakers can use when it comes to people crossing borders between countries. The idea is to develop a menu of policy choices based on empirical evidence, to evaluate current policies, and to collect data. It’s all peer-reviewed.
The organization provides technical assistance but also as many pilot programs of its own. It works very closely with the Global Forum on Migration and Development (GFMD) and with all the UN agencies that deal with migration.
It has a multi-donor trust fund established by the World Bank, and its main contributors are the Swiss Agency for Development and Cooperation, and the Federal Ministry of Economic Cooperation and Development. It’s based at the World Bank, in Washington DC.
One of the migration-related issues to which KNOMAD pays a lot of attention are international remittances because a very significant portion of that market originates from migrant workers who need to send money back to their families in their home country. It’s sponsored many books on the subject. This is the issue in which global migration and crypto converge.
We salute KNOMAD’s interest to learn about Ripple’s technology, and we salute Ripple as well for its willingness to lend a hand to the institutions that are working hard to make the world better, even if slowly.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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 Pixabay.
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…