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Ripple cross-border transactions transparency is its tipping point, Cory Johnson

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During the MI Global Summit anchored by the nonprofit, Milken Institute, Cory Johnson, Ripple’s executive talked on the recent strides of Ripple and the payment solutions for cross-border settlements. Mr. Johnson further spoke on how the cross-border solutions of Ripple are distinct from others.

We do know that SWIFT is one of the payment solutions that has existed for quite some time now and this payment medium hasn’t given the best. Ripple is in the quest to take over the world and have a large part of SWIFT business.

Ripple offers a great solution to cross-border payments, and Mr. Johnson has also emphasized during the MI Global Summit that Ripple is poised to solve the problems of cross-border payments and provide a faster solution where cross-border transactions can be received instantly.

Johnson further stated that we are in the world where texts can be sent to any place in the world and received within seconds. He said before now; it wasn’t possible to perform border transactions to any place in the world within seconds or even in 24 hours. Ripple Chief Marketing Strategist, Cory Johnson further added this:

As you know for all of the globalization that we have with our stuff and goods that gets shipped in containers all over the world and all the globalization of our data which is instantaneously moving all over the world at super low cost, we move money like it’s 1973 and that leg of globalization hasn’t happened.”

Mr. Johnson made it clear that Ripple offers a better means for FinTech companies wanting to transfer funds to anywhere in the world within few seconds.

Furthermore, he has also added that the world is beginning to embrace the change in cross-border payments. He also declared that Ripple’s solutions are getting adopted by major banks and other FinTech solutions around the world chronologically.

That is true as MoneyTap, one of the biggest payment platforms in Japan has adopted Ripple’s technology. It is important to know that more than 60 banks use MoneyTap in Japan – that means 80% of banks in the same country. We need to recall that the CEO of SBI stated earlier at the time when MoneyTap was to be unveiled that:

We are also considering using XRP for bridge currency in Money Tap.”

Other companies are now making use of Ripple’s technology, and Mr. Johnson said that its product is far ahead of other companies offering the same services and that the blockchain firm has the most significant client base in the crypto sphere.

As per Ripple Labs’ insiders, XRP will be launched very soon to cross-border booster payments. The company also said that xRapid would be launched too before the year closes and it is undergoing different tests from Cuallix and zipremit.

It is important to know that many speculations have been around that the news about the launch of xRapid caused Ripple’s surge last week. xRapid is an innovative means to foster business transactions of financial industries.

Mr. Johnson added that Ripple offers tangibility upon customer’s preference. He said that Ripple’s product is entirely unique from the one Swift offers. According to him, Swift only dispatches one type of messages and that the charges involved aren’t transparent enough.

The blockchain project’s customers are happy that Ripple is transparent on its cross-border transactions, which he believes was the turning point for consumers. And taking a look at the facts and reactions from community members, it won’t be wrong to agree to what the Ripple executive claims.

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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.

Photo by Josh Calabrese on Unsplash

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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