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Ripple to make it at KNOMAD today

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Ripple
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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.

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.

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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.

Bitcoin

SEC Postpones Bitcoin ETF Decision Once Again

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The new announcement by the US SEC (Securities and Exchange Commission) states that the decision regarding the potential approval of several applications for a Bitcoin ETF (exchange-traded funds) is once again postponed. This time, the SEC declared that the decision will be made by February 27th, 2019.

The application requesting that VanExk SolidX BTC fund get s listed on Cboe BZx Exchange that was published on July 2nd needs to be given order by the commission within 180 days. Originally, the deadline for doing so was December 29th. However, the SEC decided to extend the period for another 60 days, effectively moving it to February 27th.

The SEC stated that designating a longer period for making a decision was found appropriate, as more time is needed in order to properly consider the rule change.

Cryptocurrencies need a sufficient monitoring mechanism, claims SEC chairman

Recent reports claim that the SEC received over 1,600 comments after requesting the public opinion regarding the ETF applications issue. In the past, the SEC rejected many such applications, some of which were even submitted by SolidX itself. In addition, they also rejected the applications submitted by Gemini, the exchange owned by Winklevoss twins. Brothers were attempting to gain ETF approval ever since 2013, although to no avail.

Other applications were also submitted by Direxion, ProShares, as well as GraniteShares. The SEC rejected them…

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TRON (TRX) Back In The Crypto Top 10

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Tron
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For three weeks now, the crypto market was in a free fall. There was one moment when it seemed like the coins are finally bouncing back, and Bitcoin managed to climb back to $4,200. However, this uptrend was only temporary, and the coins dropped once again as December started.

Not a lot of coins are doing well these days, and almost every single one is trading in the red. Bitcoin is currently priced at $3,864, and the total market cap of the crypto space is barely over $123 billion. As expected by many, the bearish trend is still active, and seemingly at full strength. However, there are a few coins in the vast crypto space that are actually managing to grow in these unfriendly conditions, with the most notable one being TRON.

TRON on the rise

At the time of writing, TRON is also trading in the red. Although, only hours ago, this was not the case. Even now, TRX is losing only around 0.50% of its value, while all other coins around it are dropping by 4-5% on average.

TRON’s increase, while it lasted, was not big. However, considering the current state of the market, it was easily enough for the coin to make a big step, and actually improve its position on the list of largest cryptos. After months of waiting at the 11th spot,…

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Altcoins

MobileGo (MGO) – An Internet Gaming Pioneer

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MobileGo
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Although I love trading cryptocurrencies as much as anyone, I’m far more interested in analyzing the impact that blockchain technology can have on the business landscape.  After all, blockchain’s potential was the main catalyst behind the surge in trading volume last year.  While many industries will be forever changed through blockchain applications, the gaming industry will be the focus of this article.

The first thing my parents would think of upon hearing the word “gaming” is Nintendo.  And while video games do make up a considerable percentage of gaming sales, the industry has grown far beyond that.  Several years ago, ESPN aired an episode of E:60 that went inside the world of professional video game competitions.  One team, Dota2, was on a quest for a piece of an $18.4 million tournament prize pool.  Yes, $18.4 million for people who play games.  Since then, the industry has grown beyond anyone’s wildest imagination.  And one company, MobileGo, appears to be taking full advantage of that opportunity.

MobileGo’s MGO token is an Ethereum based ERC223 token that was developed to usher in a new era in the world of internet gaming.  The company’s main goal is to turn MGO into the world’s leading currency for the more than 2.6 billion gamers that currently exist.  It is expected that mass adoption will occur as game developers continue to grow their…

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