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Ripple CEO on why XRP is vital for unbanked migrant workers worldwide

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Not too long ago, Brad Garlinghouse, Ripple CEO highlighted in an interview that how useful XRP is for unbanked people living outside of their homelands. In the interview that has got accountable attention in the last twelve hours or so, the thoughts Mr. Garlinghouse shared look right on the money and relevant, and worth noting.

The unbanked are people who do not have bank accounts at major financial institutions. Such people cannot make deposits and money transfers to colleagues and families so dear to them. Ripple (XRP) can come to the rescue handsomely as Brad affirms.

The unbanked community in the world is a vast population, and according to a survey conducted last year, there are about 2 billion unbanked adults in the world.

The most people in that number come from developing countries in Africa. It is necessary to note that undeveloped financial infrastructures, expensive banking services, low income, wars, and so on; all contribute to the increased level of the unbanked in Africa and some other areas in the world.

The fight against poor financial infrastructures in different parts of the world has come to stay, and cryptocurrencies such as Ripple’s XRP is leading the fight. Ripple CEO, Brad Galinghouse, stated that giving the unbanked a good way to move and access money will stir an entirely new section of the global financial community, and XRP will make this possible.

He went on to say during the interview that,

If banks want to serve customers, as long as they can serve them profitably. If they serve customers profitably, they are not going to do it. So if we talk about a migrant workforce – for example, in Africa that is not obviously making lots of money and is taking that money from country to country.”

The current Ripple head continued saying,

“The cost of using a banking system will definitely exceed the income that they would have. If they could reduce the friction globally and make it easy for that minor worker to hold assets and to move that asset without costing them a lot of money, they would become part of the banking or the current global community.”

Ripple being forefront to help the unbanked people has shown that through its blockchain protocol, adults can have the opportunity to send and receive money without the use of bank accounts in different formal financial institutions. Also, the unbanked citizens can enjoy the benefits of financial systems without the need of an ID; all that is needed is a smartphone and a good internet to make transactions at low costs (and quickly).

In its quest to help the unbanked communities, Ripple’s Coil partnered with the Gates Foundation last month. The essence of the partnership is to offer worldwide payment systems for the unbanked. The collaboration will foster the implementation of an Interledger protocol, and to look for means in which Mojaloop (an open-source software that helps to create payment systems for the unbanked) can assist the world at large.

Ripple Focuses on the Middle East

To share its technologies and network, Ripple has decided to spread its tentacles to the Middle East, which is one of the fastest growing marketplaces in the world today. It is important to know that the Arab states make up to nearly 35 percent of the global migrant workforce.

Ripple has decided to set up a base in Dubai and Dilip Rao, Ripple’s Global Head of Infrastructure and Innovation, stated that the Middle East could take good advantage from Ripple blockchain as it can change the structure of cross-border payments over there.

There is no doubt that changing global banking systems may take time, but as things seem to be shaping up, it might just be a matter of time until Ripple (XRP) takes over and produce a new financial structure.

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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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How Cryptocurrencies Will Change Online Gambling in the Future

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Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

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VOLUM (VLM) Announces Commencement of Token Generation Event

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ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

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How to Secure Yourself in Relation to Bitcoin: Top VPN Services

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Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

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