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Is an alliance between Ripple and Stellar (XLM) in the works?

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Neutral observers in the cryptosphere have been writing over the last few weeks a lot about Ripple and its native token XRP. It’s one of the very few digital assets that have been somewhat stable in price over the last couple of weeks. Following the current market trend, it’s trading in the red by friction (down by 1.27% over the previous 24 hours) as the cryptocurrency stands at $0.492593 at the time we write this.

It also happens that Ripple keeps announcing new strategic partnerships and new use cases that it had previously not cultivated very much. New banks and remittance services all over the world are adopting Ripple’s platforms and currency to settle payments internally, and more and more businesses are adopting it as a means of payment. On top of all that, XRP’s market capitalization has been growing steadily (it’s now at $17,632,270,393), so it has punched Ethereum out of the second place already.

When you put all of that together, it would seem that XRP is ready to be the first digital asset that will break out of the current (and prolonged) bearish run and that it will happen soon. The technical market analysis seems to support this idea, but we won’t go into all the details in this article.

The alleged Ripple Stellar partnership

So, a funny (and unexpected) thing happened, not too long ago. Jed McCaleb’s XRP wallet received 40 million XRP tokens, and nobody knows who sent him or why. The transaction could seem irrelevant, but there’s a reason for the cryptoverse to pay attention to it.

Jed McCaleb is Ripple’s founder, but he left a few years ago to create a new blockchain project called Stellar Lumens (XLM). That’s where he works now, and Stellar is considered to be Ripple’s main and most direct competitor in the crypto space because they are trying to gain adoption in many of the same markets, mainly in the financial sector.

So rumors are spreading. Was Ripple behind that almost 20 million dollar payment to its former boss? Or are Ripple and Stellar Lumens trying to come out with a strategic alliance?

Alliances between rivals are not unheard of in the business world. True, they tend to fail miserably, but when they work, they’re unbeatable. Perhaps the most famous example of such a partnership was the one between Bill Gates and Steve Jobs, who were famous back then for hating each other’s guts passionately.

They both ignored their personal problems, and Bill Gates bailed Apple out of very serious financial problems while making sure that Microsoft would remain the most important software company for Apple computers, as well as Windows. It worked. Apple would have probably disappeared without Microsoft’s help at that critical juncture.

Is this what is happening now for Ripple and Stellar Lumens? Short of an official joint announcement from both institutions, it’s just impossible to know. Stellar Lumens already has a strategic partnership with IBM while Ripple has remained mainly independent.

An alliance would allow both projects to access new markets that have remained closed so far; it would give them political clout, lower costs, share their technology and make things easier for all their partners. So it could be very tantalizing because everybody involved would have something to win. But are they going for it?

All we can say for now is that a few interesting signs are appearing that would seem to suggest it could happen; maybe it’s already in the works. But to find out, you’ll have to keep coming to our website and keep reading our news.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and 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.

Altcoins

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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