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Ripple bags more partnerships creates confusion in XRP price

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Ripple

Over the past few months, Ripple (the company) has been on a mission to distinguish itself from Ripple XRP (the cryptocurrency). Most people believe that they are both one and the same thing but most people are wrong. It’s easy to confuse the two, right? After all, isn’t ripple the largest owner of XRPs and didn’t they create the Ripple XRP to start with? Well, it can get a little confusing but Ripple wants to make it clear once and for all.

Creating a Symbol for XRP

As a result of the confusion around Ripple and XRP, an initiative is currently ongoing to come up with a symbol for XRP. The aim, obviously, is to keep it clean, simple, and minimalist but utterly different from Ripple.  In fact, a community-driven initiative has been started that will see the submission of logos from the community with voting set to begin next week.

With Ripple holding a larger amount of the XRP than any other entity, it has become a public assumption that the XRP represents security for Ripple the company. There has been also some class action lawsuits directed at Ripple in this regard. However, semantics aside, XRP (as an open source ledger) has proven to be quite useful especially for third-party developers.

In fact, some crypto enthusiasts believe that the XRP can perform much better if it successfully separates its identity from Ripple the Company. The reason is simple. As an age-old tradition, most cryptocurrency traders and investors prefer decentralized platform than centralization ones.  And by the look of it, Ripple XRP is one of the most centralized platforms there is as all the nodes on the XRP’s network are controlled by Ripple the company.

How Partnerships with Ripple do not affect XRP

In fact, developments on the Ripple net have almost always been expected to result in a spike in the price of XRP by most XRP holders. To their disappointment, XRP has remained as volatile as the rest of the coins on the market even with numerous partnerships with more than 100 banks and payment platforms across the globe,

For instance, a recent report indicating Ripple’s partnership with two more payment providers in South America and Asia will see InstaRem and Sao Paulo join the RippleNet bandwagon. The two firms will take advantage of Ripple’s xVia which is one of Ripple’s latest projects. xVia allows companies and payment providers such as the Brazil-based Sao Paulo and Singapore based InstaRem to send money through banks without any initial software installation. Xvia and the partnership with RippleNet will in no way involve the use of Ripple XRP as most XRP holders would expect.

The distinction between XRP and Ripple

Basically, even though Ripple (the company) created and holds most XRP, the company also has 3 other Blockchain related products that are completely unrelated to XRP the cryptocurrency. There is the xCurrency which is a flagship product that enables banks to efficiently move money across borders without using the XRP cryptocurrency. The product is loved by the banks as it is an efficient product that saves them money. Next is the xRapid product which is the only Ripple product that uses XRP to improve liquidity while trading in emerging markets across borders. Finally is the brand new xVia product that is similar to xCurrent in that it enables payment providers apart from banks, move money efficiently at affordable costs.

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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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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Altcoins

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.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

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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