Connect with us

Blogs

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

Published

on

Ripple

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.

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

Altcoins

Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

Published

on

TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

Continue Reading

Blogs

How Can Foreigners Get Loans in Singapore

Published

on

loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

Continue Reading

Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

Published

on

Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

Continue Reading

Press Release