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TransferGo at Swell 2018: Ripple reduces costs by a whopping 90%

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During the keynote session on the second day of Swell 2018 conference, Ripple unveiled its discoveries of its first Blockchain in Payments Report that revealed the massive adoption of blockchain-based international settlements reaching critical numbers this year. So far, foreign as well as local organization and firms are already showing interest in incorporating virtual assets into payment flows.

Chief Market Strategist of Ripple, Cory Johnson, while speaking at the inception of the session said that,

“There is a lot of money on the line when it comes to the adoption of blockchain-based cross-border settlements.”

Information from BCG, better known as The Boston Consulting Group, estimates the size in volume of the entire global market for international settlements at about 27 trillion US dollars.

According to the findings, another 20 trillion US dollars in growth could be up for the taking between 2018 and 2026 excluding the global remittances predicted recently by World Bank that is expected to reach about 642 billion US dollars this year.

The world today is used to getting things done, right now, on-demand. The world is not waiting any longer for anything.” This is according to Johnson’s submissions that highlighted the changing market dynamics in the world. He proceeded by saying,

“When we look at blockchain technology and the solutions it is availing and offering in cross-border payments, we have an opportunity to address their needs.”

And true to Johnson’s submissions, blockchain technology, and virtual assets do offer a way in modernizing today’s cross-border settlement rails by making the transfer of money internationally easy, reliable, fast, and transparent as it is to move information.

Is the Zero Charge Real-Time Transfer Idea Practical? 

Taking center stage at the second day of the Swell 2018 conference, Daumantas Dvilinskas, the CEO of TransferGo not only went into detail to show how his company was delivering its promises of making global RTGS a reality.

He also took the opportunity to share with the world the inception of a new free cross-border settlement service (of course, powered by Ripple again) for clients anywhere in the world. The new product is known as TransferGo FREE.

But the question begs, is it possible to make international settlements completely free? What will have to be done to avail the mid-market zero fees? This was the rhetorical question TransferGo CEO Daumantas Dvilinskas asked the crowd at the Swell conference hosted by Ripple. This is a rhetorical question because TransferGo has now launched TransferGo FREE that offers exactly that.

Is This a Situation of the Deal Being to Good to be True?

No, it is not. Zero charges cross-border money transfer is nothing new. Regularly, zero charges are made available by firms profiting from foreign currency spreads rather than outright fees.

In the situation of Ripple-powered TransferGo, the company might be aiming higher with the intention to offer a 100 percent free, instant real-time money settlement service to its customers.

The idea is to allow entities to send money to one another and from anywhere in the world without the hustle of thinking about costs and fees.

]C3|Nik, a reputable research company, turned to Twitter and said the following:

TransferGo CEO, Dvilinskas, sees this as the right way to go for the cross-border money transfer industry that is currently witnessing an ongoing shift in consumer behavior. For TransferGo clients, they have started transferring smaller amounts of money around the world regularly.

Although still being a small fish in the big pond of international payments, TransferGo is defiantly giving giants like Western Union, who has over 150 million active customers and transfers billion every year, a run for their money.

TransferGo, who adopted Ripple technology in the middle of the year, currently has only 700,000 users in 47 destinations globally. Its annual turnover accumulates to 1.5 million US dollars worldwide.

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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.

Image courtesy of Pixabay

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Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Why Tron (TRX) Price Won’t Remain Low for Long

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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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3 Cryptocurrencies Most Likely to Follow Bitcoin’s Performance

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For more than a year, the cryptocurrency market has been dominated by bearish influence, with most coins seeing constant drops, or stagnation, at best. This all changed in the past few months, starting with Bitcoin which once again started leading the market up, bringing one minor rally after another.

BTC itself experienced massive losses in 2018, with its price going down by around 84%. Most other coins among the top 10 mirrored its performance, and some of them experienced even greater losses. However, now that Bitcoin sees gains again, these cryptocurrencies are still following its example, and many of them have seen massive breakouts. Some of the more notable altcoins that followed Bitcoin’s recent example are Ethereum (ETH), Stellar (XLM), and Cardano (ADA).

Ethereum performance mirroring Bitcoin’s price

As mentioned, Bitcoin led every rally so far, but before it did, its price first went through what is known as an ascending triangle pattern. The pattern held for around five months, which is exceptionally long for the crypto world. However, once the pattern was finally broken — the coin’s price skyrocketed, more than doubling itself within only two months.

One thing to note is that Ethereum performed in pretty much the same fashion. After five months of struggle and confusion for investors, the second largest cryptocurrency also managed to break the pattern and skyrocket as well. It…

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