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Ripple (XRP) Snatches Facebook’s Former Payments Exec and Appoints Her as Senior VP

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Ripple (XRP) has released a new announcement this Wednesday in which it stated that it hired Kahina Van Dyke as its new Senior VP of business and corporate development. Van Dyke has previously been known as a director for global payments at Facebook, as well as a veteran of the banking industry.

Ripple makes new hirings

Ripple (XRP) is the third biggest crypto according to market cap these days, and the company behind it has just hired a banking expert as its new Senior VP. Kahina Van Dyke, who also worked as Facebook’s payment executive, has just joined Ripple as business and corporate development’s Senior Vice President.

The announcement came on Wednesday, July 11, together with another statement that said that David Schwartz, a known cryptographer, will become the company’s new CTO.

The new hirings came in the middle of Ripple’s new campaign to persuade the financial industry that XRP is just what they need for an improvement of cross-border payments. This is exactly where Van Dyke will get the opportunity to shine since her responsibilities will include coming up with strategic partnerships and focusing on the solutions for international payments.

According to her own statement, Van Dyke has started working for Ripple in order to eliminate the friction when it comes to international payments, and she plans to do this by applying Ripple’s tech to change the entire industry. She also stated that the most challenging problem with payments right now is the outdated technology. The current system is nearly 40 years old, and it cannot meet the modern needs.

International payments systems in need of improvement

These days, the cross-border payments often need days to be processed, and at large fees, as well. While this was a cutting-edge technology some 30 years ago, it is no longer good enough. The modern culture is a fast-moving one, and the banks will have to open up to new technologies in order to stay capable of providing their customers with what they need.

To do this, the banks will have to change their attitude toward cryptos, which is something that they seem reluctant to do. As a result, the improvement of cross-border transaction systems has been very slow, while the modern culture continues to speed up. Right now, the financial industry is slowly but surely getting more an more familiar with these technologies, but they still hesitate to use cryptos in everyday operations.

As for Ripple, the company claims that XRP can serve as a liquidity source, which would eliminate the obligation of the financial institutions to maintain capital when it comes to foreign reserve accounts. However, the recent statement by the Western Union claims that their XRP experiments did not result in any major savings. Ripple has responded to this, saying that their experiments were simply too small for the change to be apparent.

The addition of Van Dyke comes at the perfect time, considering her 20 years of experience when it comes to fintech and banking. Van Dyke held some pretty impressive positions at Facebook, as well as Mastercard. She has experience in creating new financial services and payment solutions and has even managed various partnerships while at Facebook. Those include major companies like PayPal, Western Union, Citibank, Visa, and others.

Ripple makes new steps towards decentralization

Additionally, Ripple has also promoted a cryptographer, David Schwartz, to the position of the company’s CTO. Creating a global network that contains so many financial institutions that are becoming more and more blockchain-oriented is a large task, which is why Ripple has decided that the company needs a fresh perspective. Because of this, Schwartz is to replace Stefan Thomas as a CTO.

According to Ripple, Schwartz will be tasked with leading a team that will have to find a way to bring the XRP ledger to further decentralization. This is an important part of Ripple’s development, especially since the SEC has stated that digital assets cannot be influenced by a central authority. If Ripple cannot achieve decentralization, the only thing that SEC can do is register it as a security – something that this coin has been working hard to avoid.

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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.

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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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