Connect with us

Blogs

Ripple (XRP) mass adoption is just at the back of the corner

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

As crypto enthusiasts, one of the most common things for us to desire is to see the global adoption of one of our favorite coins. However, despite the remarkable eagerness around the topic, this, in fact, has become a very distant resolution, which at the end, leads us to rethink whether or not this would be a reality.

Much has been said regarding specific coins will get or not the ‘global’ status, but the truth is in most of the cases it is just a matter of speculation, and this only concludes with us having the feeling that maybe the goal is just unreachable.

In this sense, one of the coins that continually has been resonating in the cryptosphere as the most likely token to be massively adopted is Ripple (XRP), and we have strong reasons to believe this is actually the right perception. Let’s see the reasoning behind it.

Ripple alliances around the world

One of the most distinguished features of Ripple (XRP) has always been the hype the token has managed to create with the endorsement received by many alliances they have, a fact that every day seems to get greater. This time, the company has decided to take it a little further, and that’s definitely one of the things that may help the token to receive the global status that for so long has been pursued.

Like this, Ripple Labs has associated with nothing less than the Bill Gates Foundation in a partnership that seeks to improve payment transactions through the use of their product xRapid. And it’s worth to mention that out of the three products that Ripple Labs have created, this is the only one that carries their digital asset, XRP, so the token definitely is on an auspicious path right now.

Regarding the project, it was known that Bill Gates is determined to solve one of the most laborious and most extended issues in the world as it is extreme poverty; and this is something he plans to do with the use of XRP as a solution.  This way, Mojaloop.io will be the platform that will be used to improve payment systems and make transactions in a faster and easier way.

We can all agree with the fact that this was a very unforeseen alliance, but the truth is Bill Gates is a crypto supporter and investor himself (was not earlier, he does not seem to be a fan of Bitcoin even now though). In fact, the project has been in the oven for a couple of months now, a fact that proves the interest of the businessman in the crypto environment.

This is definitely a massive step towards mass adoption for Ripple, but as I said before the company is more than used to create very solid relationships with the industry. And as if it wasn’t good enough, by partnering with Gates, Ripple has started a collaboration that may help to make the adoption of the token a reality in all of the developed countries around the world.

The partnership was designed with the intention of creating a task force for the Federal Reserve to improve cross-border payments and the usage of SWIFT as the medium to transact internationally. Like this, the director of Ripple Labs, Ryan Zagone, will represent almost 100 corporations of the task force to deploy the solution that the world seeks.

Furthermore, he will also represent Ripple Labs at the Better Than Cash alliance set by the United Nations, a collaboration that includes the World Bank, Melinda and Bill Gates Foundation, and the support of the G20, so as we see it, massive adoption is at the back of the corner.

As a matter of fact, the Federal Reserve conceives XRP as the solution that can replace SWIFT in the coming years, so the 2020 prediction of a globally adopted XRP, may not be that crazy after all.

Conclusion

Global adoption is becoming a reality for Ripple (XRP) as each day passes, and this is something that the token sees happening with more than 100 partnerships around the world with renowned companies such as the Bank of England, the Federal Reserve, JP Morgan, Santander, and others.

That, in addition to the newest alliances with Bill Gates and the United Nations, could lead to the adoption in all of the developed nations. So stay tuned (and strong).

For the latest cryptocurrency news, join our Telegram!

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 Pxhere.com

Blogs

Blockchain-Focused ETF Arrives on London Stock Exchange

Published

on

blockchain-focused ETFs
READ LATER - DOWNLOAD THIS POST AS PDF

The crypto community is still waiting for the US SEC to approve Bitcoin ETFs, with speculation which application might get approval being one of the hottest topics in 2018. However, come 2019, the US government shutdown dragged on, and the Bitcoin ETF request which had the most potential to see a grant got withdrawn by the very companies that submitted the application.

While the question of BTC ETF remains hanging in the air, blockchain-focused ETFs seem to be a different matter entirely. In a recent announcement by an independent investment managed firm called Invesco, the company has stated that it was about to launch the largest blockchain-focused ETF in the world. They managed to go through with this plan, and the ETFs have reached the London Stock Exchange today, March 11th.

The exchange-traded fund includes a portfolio containing as many as 48 different firms which are bringing exposure to the emerging technology. Among them, there is Taiwan Semiconductor Manufacturing, which is a well-known creator of chips used for crypto mining, as well as the CME Group, which is the first regulated exchange in the US which launched Bitcoin futures. There are many other well-known companies as well, such as Intel, Microsoft, and others.

Chris Mellor, the Invesco’s head of ETF equity product management in Europe, said that blockchain has a huge potential to increase earnings, even though…

Continue Reading

Blogs

Could Jeff Bezos Turn to Bitcoin to Hide Fortune from Wife?

Published

on

Jeff Bezos
READ LATER - DOWNLOAD THIS POST AS PDF

Amazon’s Jeff Bezos has made numerous headlines recently due to his overly-publicized divorce, which shows all signs of being one of the most expensive ones — if not THE most expensive one — in modern history. According to estimates, it might cost him as much as $70 billion, which will make his soon-to-be-ex-wife the richest woman in human history.

However, as the process continues to unfold, many have started wondering if things may have ended up differently for Bezos if he turned to Bitcoin for help.

Bitcoin as a divorce tool?

In the last several years — since Bitcoin and other cryptos hit fame — many have started turning to BTC during their divorce proceedings. In fact, it can even be said that using the largest cryptocurrency in this way has become a new trend. The trend has been gaining so much strength that numerous law companies started including advice on what to do in regards to Bitcoin as part of their websites.

However, while the trend has been picking up in recent years, it is nowhere near as easy as it might seem. For example, if there is even a suspicion of a spouse having undisclosed holdings appears during the divorce process, it might be enough to impact the final decision of the judge. In other words, even if there is a complete lack of evidence, but…

Continue Reading

Blogs

Three Biggest Things To Know Come Cryptocurrency Tax Season

Published

on

cryptocurrency tax
READ LATER - DOWNLOAD THIS POST AS PDF

In recent years, digital cash systems known as cryptocurrencies such as Bitcoin and Litecoin have exploded into the public eye. A blend of cash and stocks, their use and value has grown exponentially. In 2017, the IRS decided to focus great effort on taxing them. In theory, this should be as simple as calculating taxes on any other type of property, bond, or other assets. Cryptocurrency, however, presents a unique challenge. The full extent of one person’s crypto activity can stretch across dozens of platforms and take a variety of different forms. This makes it difficult to gather all of this information cohesively, much less begin the seemingly- complicated process of reporting it.

These three tips should help anyone looking to legally report their crypto activity to figure out where to start.

Documentation is key!

There are dozens of different “exchanges” individuals can use to change their cash into crypto. When the flat currency is changed into cryptocurrency at the exchange, you establish your cost basis. This makes this data crucial when you begin the process of reporting.  Those who have used a variety of different exchanges should keep detailed records of everywhere that they made trades. Once tax season arrives, most exchanges will allow users to view their entire trading history with that exchange. This information will be necessary later to complete taxes.

Calculate your total gains

Continue Reading

Elite