Ripple has achieved a lot this year; as a result, there have been lots of publications about how it has performed. The cryptocurrency has shown that it has great utilities. Marcus Treacher, the Strategic Accounts Global Head of the blockchain project, took to Twitter today to affirm they are seeing a transformation in volumes and commercial models as their customers keep embedding Ripple blockchain technology.
During a recent interview given to Bloomberg in Singapore, Brad Garlinghouse, Ripple’s CEO, stated that XRP can be counted among the best digital assets of 2018 (it was the most profitable last year). The CEO anchored this declaration based on how his blockchain has been able to solve critical problems involving cross-border financial settlements and other relevant difficulties encountered in global transactions.
— Marcus Treacher (@marcus_treacher) November 13, 2018
It is important to know that the advent of Brad-led blockchain project some years back, conveyed major doubts on its ability to thrive when cryptocurrencies such as Bitcoin exists. It was created to solve remittances and other related issues and the company, Ripple Lab Inc., is poised in making sure banks and other financial institutions get an easy method to transfer funds at a low cost.
It is a blockchain platform that will always have a big relevance to the world even though Bitcoin is often regarded as the major player in the crypto sphere. It is a blockchain platform controlled by Ripple Lab Inc., while XRP is its token for major transactions.
Back to Brad Garlinghouse interview on Bloomberg. Garlinghouse showed remarkable signs of confidence in his statements on what his company has achieved. He said,
“Just last week, we saw a remittance company who is using Ripple’s technology, they reduced the price per transaction to their customers from $20 to $2 per transaction and they saw an 800% in usage overnight.”
Following Brad’s statement on Bloomberg, Ripple’s community didn’t fail to acknowledge that the current stride will open new doors for the project.
Huge statement by Brad. This is bound to open A LOT of doors to Ripple! Thank you for the tip Tiny
— Leonidas (@LeoHadjiloizou) November 13, 2018
Later on the interview, Garlinghouse was asked why he thinks his company is better than the counterparts, he replied:
“Ripple is a notable company and its token, XRP, is valuable due to the fact that it solves real-life problems. Ripple is poised to solve problems on global remittances and cross-border payments and it undoubtedly vends its technologies to financial institutions”
“This is a liaison that has produced a lot of hysteria, but when we separate that from reality, you will see that they are some digressions. Ripple has outperformed its counterparts today because it is poised to solve real problems.”
The blockchain firm helps financial institutions with seamless cross-border transactions through its technologies (the three products): xCurrent, xVia, and xRapid. When asked what will be the driving force to Ripple’s value next year, Garlinghouse answered stating,
“more institutions are patronizing Ripple’s blockchain, just like a payment company that has been recently launched. Individuals are making use of Ripple’s technologies, which are more efficient and of great value.”
Garlinghouse was also asked if there will be any form of collaboration between his company and SWIFT, he emphasized that SWIFT is maintained by financial institutions and that Ripple is poised to help these financial institutions with its technology. The CEO hinted his intends to take over SWIFT rather than partnering with it.
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Elon Musk Advises Crypto Users To Secure Their Crypto Keys Properly
The crypto community has not gotten over the fact that the world’s richest man has now invested in Bitcoin and has been pretty active in the industry.
However, the community is now receiving security tips for storing cryptocurrencies from Tesla’s chief executive officer. While pointing the security of cryptocurrencies, Tesla also criticized Freewallet app, a crypto wallet for its slack in security.
He also added that crypto investors should not bother doing business with wallets that don’t provide them with private keys.
Users should store their private keys
The unique way cryptocurrencies are stored makes them not redeemable when the keys are lost. Whether the holder stores them with third-party custodians or exchanges, the owner can only claim them when they provide keys to the crypto funds.
That makes securing the keys the most important thing when dealing with cryptocurrencies. As a result, selecting the safest hot or cold wallet is a priority if users want to keep their crypto investments safe.
Elon Musk has come out to advise investors to always store their private keys personally. For a company to receive the attention of the world’s richest man is something to take advantage of to grow. However, FreewalletApp’s short conversation with Musk is a sort of negative publicity to them.
After the company engaged with Musk about a Dogecoin-related post, the Tesla founder pointed out faults with the firm.
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Bitcoin Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
Partnership Between Bridge Mutual & AllianceBlock Announced
Decentralized peer-to-peer discretionary digital asset coverage platform Bridge Mutual has announced a partnership with AllianceBlock. AllianceBlock is a decentralized, blockchain-agnostic layer 2 protocol bridging decentralized finance with traditional finance. The partnership will allow AllianceBlock and Bridge Mutual to provide traditional investors with a protected bridge to DeFi through decentralized coverage.
“Discretionary coverage is a very important part of our ecosystem, so we are excited to partner with Bridge Mutual and leverage each other’s technologies,” says Rachid Ajaja, CEO of AllianceBlock. “We look forward to building an ecosystem where all participants have access to the best products while mitigating the ever-present risk of smart contract failure, hacks, and the resultant loss of collateral value.”
In 2020, as much as $200 million worth of digital assets was lost in attacks on major digital asset services. Bridge Mutual’s platform gives users the option to purchase and provide discretionary coverage, reducing investors’ risk of losing funds because of theft, exchange hacks, stablecoin price crashes, exploited contracts, and other vulnerabilities in digital assets.
By using Alliance Block’s multi-pair liquidity mining platform, Bridge Mutual will be able to offer BMI token holders instant liquidity through staking and high APY rewards for a variety of pairs. Once integrated into AllianceBlock’s P2P lending platform, Bridge mutual will be able to provide coverage to investors. Additionally, Bridge Mutual is working towards…