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Is Ripple (XRP) on the cusp of taking over the world?

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The price of cryptocurrencies has been on a low and stagnant for some time now. However, people who invest in cryptocurrencies like Bitcoin, Ethereum, Litecoin, Tron, Neo, etc. all believe they have the next big digital asset that is poised to breakout. But, for crypto like XRP, what makes this digital asset so unique and its investors very smart?

Lots of investors look for history books or excellent blockbuster news that will put Ripple on the front-line to only assure them that Ripple (XRP) will be successful. Well, in the crypto-market things doesn’t work that way; instead, you need to take a look at general principles and the basics to guide you on how to know if XRP will be successful.

Ripple meets with banking industry members in Dubai next week – What does that mean for XRP?

As we know, Ripple (XRP) is a blockchain platform that is dedicated to using its technology to solve problems that banking systems face daily. Ripple (XRP) is poised to make cross-border transactions easier and faster.

Ripple is said to meet with its banking industry members in Dubai next week to debate on the incorporation of RippleNet and xCurrent. It is important to note that RippleNet and xCurrent are already adopted in a network which comprises more than 100 banks globally.

We should also anticipate the meeting to discourse Ripple XRP since XRP is the company’s most important technology.

Ripple team published a post on their official blog, which features interesting facts:

“The decentralized network of banks across the world is over 100 strong. Next week in Dubai, members of the network will meet in Dubai, members of the network will meet to forge new connections and discuss how they use Ripple technology – sharing lessons learned and best practices”

Ripple, through its press release, made further emphasis on why such meetings are highly crucial for regional banks:

“For regional banks, events like these provide critical opportunity to create relationships that open new remittance corridors.”

Lots of rumors have emerged from crypto enthusiasts that the conference in Dubai will increase Ripple adoption on various businesses to make cross-border transactions more natural and faster.

Other supporters further said that the meeting would also facilitate the use of xRapid platform based on Ripple (XRP) cryptocurrency. Therefore, if that is true, Ripple should build a foundation for XRP to be implemented as a currency for inter-banking transactions.

Ripple lays off the “marginal improvement” of Swift GPI

Ripple recently lays off the improved technology of its rival, Swift GPI, saying that the improvement on GPI by Swift is,

“just a marginal improvement on a very old architecture.”

It is important to note that Swift GPI reduces the time in which payments can be made to less than thirty minutes in almost 50 percent of the times that it was used (100% of the times in 24 hours) – although, Swift GPI doesn’t make use of blockchain technology.

Over the years, Swift GPI has been used as the standard for payments in the Financial Industry; this week, Swift GPI announced that it would introduce more than 100,000 banks to its network to facilitate cross-border financial settlements.

Emi Yoshikawa, director of the Joint venture partnership of Ripple, disclosed that Swift’s invention, GPI, can’t match with the Fintech firm’s payments establishment.

At EmTech Hong Kong (an event fueled by MIT Technology Review ), Emi Yoshikawa stated,

“Swift was built 40 or 50 years ago. Before the internet was created. So their architecture is very old. They realize that this is a big problem and they consider us a big competitor. They’re also trying to make a big improvement based on the existing architecture, called Swift GPI. We consider it is just a marginal improvement of their existing architecture”

Although, Swift tried using blockchain earlier, in April 2017, by deploying proof of concept. The company made it clear that they weren’t entirely convinced by the outcome even though it was inspiring. With that, the head of developments and research at SWIFT made it clear to GTR that the technology is at its early stages, but his team is open to making use of the blockchain tech in the future.

However, with this in mind, it tells you two things: Swift knows that Ripple is a ‘big threat’ and xRapid is on course to take over the world. Secondly, that xRapid is vastly superior in the world today.

Final Words

Ripple’s meeting with its banking members in Dubai will get Ripple the opportunity to partner with the likes of Bank of America, Standard Charter banks, and banks in Dubai and Saudi Arabia.

Also, with Ripple (XRP) partnering with these financial institutions, more banks and companies in the Financial Industry will opt for Ripple due to the high need for a more cost-effective system. When this is done, the volume will run; XRP will be favored; investors will make their money. Hopes and analysis both look good, let’s see what time brings for Ripple, though.

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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.

Image courtesy of Pxhere.com

Altcoins

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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