Ripple seems to be more serious than ever when it comes to mass adoption. News revolving around XRP and the Ripple Foundation is constantly hitting the headlines around the world wide web. Starting with a $4 million donation on the Ellen DeGeneres Show from Ashton Kutcher, there came another donation with Ripple standing behind it as a generous sponsor. This time, $50 million will be donated for the purpose of speeding up the adoption of blockchain technology, and the donation will be split among 17 universities.
Ripple Going Towards Mass Adoption: Donates Millions
Ripple has made yet another great move towards speeding up the adoption of blockchain-based technology, while specifically aiming at having Ripple’s technology massively adopted obviously as soon as possible.
As we have had a chance to heard more than several great news revolving around Ripple and Ripple foundation for the past several weeks, including the latest revelation of having OnePay FX launched with Ripple’s technology as the spinning wheel of the first mobile crypto payment service launched by Santander, which is one of the most prominent banks in the United Kingdom.
Several days ago, around May 23rd, Ripple was also heard of by millions of viewers on Ellen’s show broadcasted on NBC on Wednesday, when one of the Hollywood’s gems, Ashton Kutcher, has donated 4 million dollars in charity to Ellen.
The donation was made in XRP and Ellen could demonstrate the transaction speed needed for the transaction of 4 million dollars to be completed in a matter of seconds in front of the live audience and the viewers watching the show from the comfort of their living room.
The most recent donation made by Ripple is going to make 50 million dollars; however, the donation won’t be given away in XRP like the one that Ashton Kutcher donated on behalf of Ripple several days ago. Ripple will be donating this sum in fiat currency while 17 universities around the globe will get to a piece of the mentioned 50 million dollars.
Some of the universities that will receive the donation from Ripple foundation are MIT, the University of Pennsylvania and the University of North Carolina.
The donated 50 million dollars will be given through the University Blockchain Research Initiative, and the donated sum will be given in the purpose of researching blockchain technology, digital currencies, development of blockchain and digital way of making transactions.
The team behind Ripple foundation stated that a lot of problems that are present in the industry of finances can be solved with the help of this initiative. Ripple has added that, in a way, they have decided to start with this initiative and donate the money to the universities because they have noticed that the demand for jobs related to digital assets and cryptocurrencies, as well as blockchain technology has increased by over 150% during the past year.
The team also added that a number of universities among the 17 educational centers and universities that the donation will be going to, is said to be using the Ripple’s technology and XRP for their research purposes, while Ripple foundation didn’t add this as a needed requirement within the mentioned blockchain initiative.
The main goal behind this donation is to sponsor research among different universities around the globe in order to speed up the mass adoption of cryptocurrencies and blockchain technology.
Ripple seems to be rocking the crypto market as well as making it in “real life” with partnerships with banks and financial services like Santander, Western Union, MoneyGram and other valuable partners from the finance industry.
How is Ripple doing at the Current Moment?
The market is once again turning sluggish, with a great portion of currencies going down in the red while trading down against the dollar.
Although there is still a portion of assets that are going up with slight gains, XRP seems to be one of the cryptos going down in the red at the moment.
However, the most recent change in XRP price makes up for a minor drop of -1.13% against the dollar.
In addition to dropping against the dollar, XRP is seen rising in oppose to BTC at this moment, while going up by 1.40%.
Following the latest change in the market, XRP can be traded at the price of 0.65$ per one unit.
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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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XRP Surges By 8% In A Surprise Bull Run
The new price surge that surrounded almost the entire crypto market brought quite a pleasant surprise for XRP holders, as Ripple grew in price by over 8% in the last 24 hours. In fact, XRP managed to achieve a price surge equal to that of Ethereum as of this morning.
While the third largest cryptocurrency is still quite behind ETH when it comes to market cap, many believe that it is only a matter of time before XRP regains its former glory. With that being said, a lot of people are still more than pleased with seeing Ripple climbing back to more stable levels, especially after a big price drop that hit the coin last week.
The new hike up allowed XRP to climb back to $0.446322. While this is still low when compared to its highest point in the last week ($0.52), the coin still seems to be well on its way to recovery. In fact, many believe that XRP has found a new bottom, one that is significantly higher than the last one. Most of this new success can be traced back to a price surge that Ripple has had recently when it even managed to briefly overthrow Ethereum as the second largest coin by market cap.
Despite its drop since then, XRP still remains one of the coins with the strongest growth in the last month. While the market is still far from stable,…
If Tether crashes, will that money pour into Bitcoin?
For a long time now, the so-called stablecoin, Tether (USDT) has been a topic of discussion within the crypto community.
Tether, as a stablecoin, is said to be fully backed by the USD. This allowed it to be one of only a handful of cryptos that can avoid volatility issues, due to the fact that it is backed by a stable fiat currency. However, for as long as it was around, Tether was very secretive of its bank accounts and funds in general.
While claiming to have the ability to back each of its USDT coins, many have questioned whether or not this can be true. At the time of writing (October 16, 2018), Tether has released 2,256,421,736 USDT in circulation. This means that it needs to have at least $2,256,421,736 in order to cover its circulating supply.
At this point, three questions emerge, and answering them could very well change the future of this stablecoin. The questions are as follows:
- Are all USDT coins fully backed?
- If yes, then where did that much money come from?
- If not, what will happen when the market discovers the lie?
Tether continues to keep secrets
As mentioned, Tether has always claimed to be able to back each of its coins. However, instead of operating on transparency, the coin used different tools, mostly opaqueness, misdirection, and playing the victim whenever someone tried to unveil what is truly going…
Is Bitcoin (BTC) Better Than USD?
Despite all its recent progress, cryptocurrencies still do not inspire trust in a lot of people. Many view them as unsafe money, with its very nature being doubtful. However, a recent report by the Polish Academy of Sciences’ Institute of Nuclear Physics shows that situation regarding cryptocurrencies may not be as bad as it seems. In fact, the report claims that Bitcoin might even be a better currency than it looks like.
Bitcoin vs traditional money
Bitcoin, as many are already aware of, is the first cryptocurrency. It was created a decade ago and was officially launched in 2009. But, even though it has been around for around 9 years at this point, it is still largely mistrusted by a lot of investors, especially when it comes to large institutions.
However, thanks to the Cracow-based Institute of Nuclear Physics’ recent report, this common opinion might actually be wrong. The Institute has conducted a detailed statistical analysis of the BTC market and has published the results in a scientific journal called Chaos: An Interdisciplinary Journal of Nonlinear Science.
Surprisingly enough, the report portraits Bitcoin in a very positive light.
The report started by commenting on the credibility of traditional money. In the past, money that people have been using was backed by specific material commodities, such as gold. These commodities gave the money its value and served as a guarantee that the money actually has worth. This is…
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