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Ripple is distinctly cost-effective and fast: Japanese banking giant MUFG

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Mitsubishi UFJ Financial Group Inc is one of the top banks in the world, and it has shown immense support for cryptocurrencies. Earlier this year, the bank announced its aim of testing a propriety cryptocurrency by next year. The primary objective of this is to reveal its token to the public and to use it as a means of payment. Japan aims to bank on cryptocurrency for its future businesses – and may use Ripple’s technology in actualizing its aims.

Japan’s support for cryptocurrency is without doubts and its largest bank, Mitsubishi UFJ Financial Group Inc (MUFG), has been partnering with Ripple since last year. According to the bank, Ripple makes transactions easier, faster, and cheaper. It also said that Ripple’s products (xVia, and xCurrent) are top-notch and are going to change the way money is being transferred.

MUFG has professed positive things about Ripple (XRP) and how its technology has assisted ever since the partnership began. It is important to know that MUFG is the biggest bank in Japan and it boasts of $2.5 trillion in assets. The MUFG CEO stated that Ripple is among the solutions they are testing, and the blockchain is the one that works.

The CEO further went to elaborate on global money transactions as he said:

Why this really matters to us, we operate in more than 50 countries as banks around the world, so, more than 50 countries have branches and operations, and we have to move money between all those operations every day in a significant amount of money. We got some multinational corporates that operate all across, so there is huge liquidity occurring every day.”

Ripple has been offering constant solutions especially to FinTech companies around the globe, and it is without doubts one of the best cryptos with great utility. The CEO of MUFG further went on to explain how Ripple and its technology have been offering great solutions in sending money worldwide without exorbitant costs.

He said Ripple is ‘time-saving.’ The head of the world’s fifth-biggest bank (MUFG) says,

Many of us have gone through swift and incurred charges…many intermediary banks part of that, and typically an SLA for fund transfer movements is between 1-3 days… Using technology such as ripple, we can get that down to something like 30 seconds significantly different and a cheaper cost as well, so it’s just not time-saving, but the cost as well.”

MUFG’s CEO went on to talk on how Ripple has helped one of their companies in diverse ways, in which, the group’s company succeeded in actualizing an interledger payment with Ripple blockchain last year.

Other big companies such as Royal Bank of Canada, Westpac Banking corp., Standard Chartered and Steering Group have been making use of Ripple’s technology for its payments all over the world for quite some time now already.

Japanese MUFG is the latest big gun to join the train. Notwithstanding, Western Union, tested Ripple’s technology too but they didn’t conclude Ripple being the cheapest. Also, Bit4You, Escrow, and Platio are making out plans to join the train very soon.

Ripple’s XRP Price Overview

At the time of writing, XRP is priced at $0.331. Even though Bitcoin and some other significant coins are in the green today, it remains bearish.

The Ripple-owned cryptocurrency was priced at $0.413 at the beginning of last month, but the XRP’s price has decreased by a substantial percentage this month. However, it is expected that XRP will continue this consolidation until a strong bearish candle breaks $0.310 as new lows are going into the last quarter (Q4) of the year.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Luca Campioni on Unsplash

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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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