The online world of business is undeniably changing. But, have we seen its full extent yet? Perhaps the answer lies with the blockchain technology. Some studies point out that with blockchain (like Ripple, and of course, other similar ones like Stellar or the ones that might come to the party) integration by the banks, they will be able to realize significant savings.
The banks will enjoy cost reductions not only in their payment processing as well as reconciliation alongside compliance and treasury operations.
DZ Bank AG Considering Ripple Interledger Protocol
DZ Bank is one of the most talked after bank in Germany. It is the second largest bank in the country by asset size as well as the central institution. The bank functions as both a central institution as well as corporate and investment bank.
Concerning potential Ripple Interledger protocol integration, the bank has listed a couple of slides in their recent report “blockchain(s) and potential impacts on reconciliation.” It is not rocket science to what that may mean just because the protocol is all about cross-border transactions.
If at all it means DZ is considering to welcome Ripple Interledger protocol to their platform, it won’t do anything different but probably a smile to the bank users and of course, the Ripple community.
Transactions would be made easy and undoubtedly pretty faster than what users over there enjoy now. Precisely, the Ripple blockchain technology will rewire the world’s financial system improving the cost, without any doubt, alongside the speed of the transactions.
Has DZ Bank Been Testing Ripple?
Just like any other sensitive sector, integrating something new into the banking system without testing can be a grave mistake. However, suddenly DZ bank is here pointing to that direction. But where it gets pretty interesting is that there is another partner of Ripple (XRP) in Frankfurt – ReiseBank.
That may not seem interesting enough but the fact ReiseBank is a wholly owned subsidiary of DZ bank makes it more interesting. Recently Frank Boberach, ReiseBank head of product management, stated that they were happy to be among the first to have a demo of a Ripple transaction in the world.
The point probably is that DZ bank let their subsidiary-ReiseBank, take all the risks of testing Ripple Interledger Protocol and waited for the results. And perhaps if these results are conclusive, then DZ can go ahead and implement Ripple without taking any risk as well as wasting time doing the tests.
As for now, only time will tell what the future holds for the banks and the Ripple Interledger protocol. Probably the banks will be after each other on who has integrated Ripple blockchain first, and who knows at some point incorporating this blockchain project will be prestigious, and the banks will be coming upfront proudly saying, “we have Ripple too.”
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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, a snapshot taken out of the DZ bank report having two slides about Ripple Interledger Protocol. Source, ecb.europa.eu/http://paym/groups/pdf]
Property Loans for Foreigners in Singapore That You Must Know About
Intending to invest in a residential or commercial property in Singapore?
When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.
In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.
HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE?
As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.
In this sense, Singapore has the Loan to Value Ratio (LTV).
The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:
- If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000.
- When you are applying for a loan with a Housing…
CoinField Launches Sologenic Initial Exchange Offering
CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform. Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.
Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play. The desktop version is available for Windows and Mac.
“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…
Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page
Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.
The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone, including those who are trying this betting for the first time.…