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.
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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
I mention both of the above projects as they have each taken slightly different paths to achieve greatness. Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion. Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special. Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.
Cryptocurrency vs. Blockchain Technology
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021.
“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…