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How Ripple (XRP) and other cryptos are going to be public debt solution

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Ripple XRP

As a cryptocurrency and a blockchain technology, Ripple (XRP) seems to have a distinct cutting edge over other virtual currencies that include Bitcoin, the widely known and leading digital asset. The space of virtual currencies is essentially a wild and fast-paced market that is responsible for over one thousand different virtual coins that are all competing for market-share and trying to become the preferred and relevant digital coin in the future of virtual currency trade.

Among the reasons that make Ripple (XRP) standout from the crypto crowd is its superior design and development that makes it a big winner at the end of the day. Going by the speculations and calculations of crypto enthusiasts, Ripple (XRP) might surpass Ethereum in regards to market capitalization, if it manages to sustain its growth and adoption momentum around the globe.

Thanks to Ripple’s Default Currency, XRP, different financial institutions in the world can quickly process transactions regardless of the geographical area difference at inexpensive costs.

Why Ripple (XRP) as a Digital Asset Might Be a Big Winner

Ripple is the official company name that is responsible for the development and control of XRP virtual currency. Unlike many other digital currencies, Ripple’s default currency, XRP, is designed to be distributed by Ripple Labs to market contributors, rather than being mined and created by individuals who are also referred to as miners.

Ripple has taken a very dissimilar approach with its default currency in comparison to most cryptocurrencies. For instance, Ripple did not create XRP as a way for individuals to circumvent the financial and banking sector.

Instead, XRP has been developed and designed in such a way it integrates with current banking systems with the idea to serve its clients in a fast and inexpensive manner in processing commercial payments and currency exchanges regardless of geographical topography.

While the Ripple approach might be heavily criticized by some quarters of cryptocurrency faithful’s, who would like to use virtual currencies as an alternative to fiat and traditional banking systems, it is this very reason that makes XRP stand out and potentially become a big winner in the crypto space.

Now with the increasing demand for instant international money transfer services on the rise, Ripple (XRP) is continuously proving to the world that all hope is not lost. Money transfer services using the Ripple technology have significantly reduced the transaction cost they used to incur by over 70% in a process that has been simplified to take minutes instead of the traditional days or weeks timeline.

Ripple and Cryptocurrency as the Answer to Global Debt

According to a recent report that was released by International Monetary Fund, the global debt has risen to high levels of more than $170 trillion US dollars opening the door to a potentially catastrophic financial recession if nations fail to repay their debts due to the current hard financial conditions.

In April, IMF warned in their semi-annual fiscal report, that the global public debt had ballooned to over 220% of the global gross domestic product. All the reports on the state of global public debt are alarming and shocking at the very least, but thanks to Ripple’s XRP and other cryptocurrencies, the world can rest safe knowing there is an answer to the debt problem that might lead to a great recession like the one witnessed in 2007.

Due to Ripple’s and cryptocurrency’s nature of being genuinely peer-to-peer, decentralized, and not controlled by any central government or body, cryptocurrencies cannot be artificially inflated or taxed. Given that the value of cryptocurrencies is derived from the participation of its users and the laws of demand and supply, their currency supply’s are not intentionally influenced, so errant traditional currency policies can devalue services that are compensated in Ripple.

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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 thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Freddie Collins on Unsplash

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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