Connect with us

Blogs

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

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

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 She also stated that the most challenging problem with payments right now is the outdated technology.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.

loading...

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.

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 Pexels

Altcoins

Ripple XRP Mega Breakout: What’s Next?

Published

on

Ripple XRP mega breakout
READ LATER - DOWNLOAD THIS POST AS PDF

The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

Continue Reading

Altcoins

Litecoin Cash (LCC): The potential mover?

Published

on

Litecoin Cash
READ LATER - DOWNLOAD THIS POST AS PDF

Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

Continue Reading

Altcoins

The Stage is Set for Stellar XLM vs XRP

Published

on

XLM vs XRP
READ LATER - DOWNLOAD THIS POST AS PDF

The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

Continue Reading

Trending