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Ripple CEO: Next year banks will provide custody solutions for digital assets

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Ripple
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In recent time, there have been massive developments surrounding Ripple and blockchain technology. This continuous development could not be perceived as practical when anyone could talk about it last year.

Last year, the Chief Executive Officer of Ripple, Brad Garlinghouse mentioned how financial institutions like banks were going to integrate Ripple in their payment settlement, but his Public Relations team thought he was projecting little too high. In his statement at the SG FinTech festival 2018 that happened recently, Brad highlighted some of the series of developments that have taken place in the digital currency world.

Recently we have seen Ripple being implemented in the financial systems of major banks around the world and now its clients can send money across the border using the blockchain technology with ease – thanks to its framework.

Ripple, since being implanted in 2012, has been offering superior innovative implementations that have never been experienced leading to the continuous improvement of financial systems across the globe. This has had a positive effect on financial systems as transactions are done faster and efficiently enhancing customers trust in financial institutions and systems.

Considering the recent partnership between the Pan European Infrastructure, Target Instant Payment Settlement, and Ripple, it is expected the combination of the two efficient and effective systems are going to have positive outcomes.

Many Ripple clients, as well as European clients, will be able to utilize digital currencies as a medium of transacting virtual assets between digital platforms thereby increasing the use of digital money all over the world. It clearly shows how fast and advance in technology Ripple is moving.

The Pan European infrastructure is implemented in the Central Bank of Europe which currently is the head of the financial sector for European nations that use and implement European monetary policies in the region. It is composed of 19 countries that are member’s states of the European Union. The Euro is also termed as the most reliable currency in the world.

The sole purpose of the Target Instant payment system will be to create an instant platform that will enable the transaction of digital currencies all over Europe using the Central Bank of Europe.

The Central Bank will act as a  pathway that will facilitate the regulation of the transfer of settlement from one place to the other hence enhancing the transmission of cryptocurrency across the border, the world, and Europe. The current development will make it easier for many users to switch to Ripple blockchain as compared to other payment systems with time.

Ripple Blockchain Next Year

According to the CEO, financial institutions and banks will provide custody solutions for digital assets in the coming year. These custody solutions are products that are offered by the third party for storage and security purposes. Its introduction is with the expectation that it acts as the missing link between fund managers and investors who are seeking entry into the market.

With the development of banks, there will be more investors that will be willing to use digital currencies in their daily transactions.

If there is a possibility in the near future for IMF and Ripple Blockchain partnering and integrating their systems, it will spell good tidings in the entire blockchain and cryptocurrency ecosystem.

These could be very beneficial to the digital and financial world as it would mean that the instant digital payment system will be performed in the IMF system thereby being recognized globally and be utilized by users from different nations to transact their digital currencies across borders creating a great revolution.

With these continuous changes taking place, no one can disagree that Ripple will have a brighter 2019 considering everybody’s interest is in the adoptions and partnerships that are set to revolutionize the digital world in a big way.

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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

Positive Crypto Price Trend Moves VeChain (VET)

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VeChain
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As many are likely aware of, the previous twelve months were not particularly friendly to cryptocurrencies, and there were two major market crashes since January 2018. However, it could be that investors’ wishes are finally coming true, as the market is currently seeing actual gains. While there is still no certainty regarding this behavior, investors around the world are finding the current development to be quite refreshing.

One interesting development that was noticed these days is the increase of VeChain’s price, which is seeing minor gains at this time.

VeChain (VET) price grows

While most cryptocurrencies experienced some extreme ups and downs during their lifetime, VeChain is usually surprisingly unaffected by the market’s behavior. In fact, its price chart typically shows no major changes, and it seems pretty flat in comparison to other cryptocurrencies.

While this may be a good thing, as the lack of volatility means that the coin is more stable than most, the fact that the price is usually not affected makes the current gains that much more peculiar.

In the last 24 hours, VeChain’s price has grown by 2.16%, placing its value at $0.00401120 at the time of writing. The growth is minor, and the coin’s value only increased by a fraction of a cent, but this is still not typical behavior for this cryptocurrency, which attracted the attention of analysts and investors…

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Altcoins

SOLVE Token Could Be A Huge Long-Term Winner

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Solve.Care
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A lot of articles have been written about an altcoin apocalypse.  With so many tokens entering the market, it is inevitable that not all of them will survive.  When trying to analyze pick out the best projects, the following criteria should be used:

  • Very active community
  • Strong potential for mass adoption
  • Valuable partnerships
  • Experienced leadership

If a project scores well in at least three of the above criteria, it’s a winner.  When it scores well in all four, it has the potential to be a blockbuster.  That potential blockbuster is Solve.Care.

Background

Solve.Care has developed a revolutionary platform that will significantly improve care outcomes by reducing healthcare administrative costs.  The platform will also go a long way toward eliminating a lot of the problems commonly seen within healthcare administration such as duplication, waste, abuse, and fraud.  I firmly expect Solve.Care to generate cost savings by facilitating peer-to-peer transactions that grant authority to stakeholders while empowering payers regarding cost control and oversight.

SOLVE token completed its token sale last year in May.  The company sold 350,000,000 tokens and still has 650,000,000 in its treasury.  The great news is that the token has been recently listed on both Bittrex and KuCoin, two of the largest and most trustworthy exchanges in the world.  Given the recent incidents, especially the Cryptopia hack, being on a trustworthy exchange is of paramount…

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Bitcoin

Why Chinese New Year Affects Bitcoin (BTC)

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Bitcoin
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Bitcoin (BTC) lost about $100 in value in the last week, and, while reasons behind the drop in crypto prices can often be hidden and unclear — this time, that is not the case. The reason for this drop is believed to be the celebration of the Chinese New Year.

The New Year celebration was over more than a month ago for most of the modern world. However, things are a bit different in China. This is a country which is considered to be one of the oldest ones in the world, with a long and complex history. The country’s traditions are fascinating to many around the world, as so many of them are different from western culture. One of these traditions is the Chinese New Year.

The New Year celebrations in China start on January 28th, which was a week ago. The New Year itself is today, February 5th, although the celebrations and festivities are going to last until February 19th. For the people of China, and all those around the world who follow the country’s tradition, this is the time to relax, take a break, and perhaps travel and visit friends and family. But, what does it have to do with Bitcoin?

China and Bitcoin

Those who are new to the world of cryptocurrencies have likely already heard many stories about China banning Bitcoin trading and…

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