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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

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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