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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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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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

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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…

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