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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.

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Altcoins

Encrypgen’s New HODLING Incentive Program May Send DNA Token Soaring

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Cryptocurrency traders have enjoyed a Bitcoin moon shot during the past few months.  Those gains have created a much more enjoyable environment for crypto bulls.  Whether it’s a temporary or permanent increase remains to be seen but hitting the 10,000 level has put everyone in a better mood.  Unfortunately, altcoins have not had experienced the same type of gains and are lagging significantly behind Bitcoin.

I’ve written articles in the past year that there is at least a decent chance that many altcoins won’t survive the current environment.  The ones that do will do so because they created a platform that has real world usage.  After spending countless hours researching many of the existing altcoins, I’ve yet to see a company that is more promising than Encrypgen (DNA).

Encrypgen Background Information

Encrypgen is a genomic blockchain network that provides customers and partners with best-in-class, next generation, blockchain security for protecting, sharing and re-marketing genomic data. This creates a fair marketplace for a person’s DNA that can be stored privately and sold (if a person wishes to do that). A person’s DNA can also be shared privately and securely with their physician for their personalized care.

Typically, people can send their DNA off to a lab to find out who they are and where they come from. As fun as that might sound, there is a significant security problem…

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Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Altcoins

TRON (TRX) Is Likely to Go Big in June

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We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in…

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