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Ripple’s XRP surges big time (18%) before its FoLex listing next week

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Ripple has been securing xRapid partners almost every single week, as well as its native token, XRP keeps hitting major cryptocurrency exchanges. The crypto got listed on Turkey’s fastest growing exchange Koineks just yesterday, and now, an upcoming exchange, FoLex, has decided to list XRP right from its beginning.

You’ve probably never heard about Folex. There’s a good reason for that; it’s not online yet. As we write this, you can see a countdown on their site (folex.io) that is reporting that it will come online in ten days, eight hours and peanuts. So why are we giving them attention?

Because we think it could be a good thing, as they do. Actually, in that same website, you’ll see their current lemma: “A great thing is coming.” If you ask us, that’s a better pitch than “Winter is coming” and, still, everybody is waiting for Game of Throne’s next season.

So what is Folex? Or, instead, what is it going to be?

It will be an exchange founded by thirteen (lucky number if there ever was one) cryptocurrency enthusiasts who have extensive experience in the field. They understand cryptocurrency very well in a way that can only benefit their prospective customer’s needs because they know what they need.

Folex’s staff believes that a trader has the right (and need) to have many assets available for trading, which is why they are committed to providing as many trading pairs as possible, according to the customer’s use and feedback. And Ripple’s XRP has been picked by them precisely on that matric.

This is an exchange designed to work along with blockchain projects directly (owners and communities) so that the exchange’s interface will be simple and easy to use for both experienced crypto enthusiasts and newcomers. They put a lot of emphasis on data protection and security for the customer’s personal data.

The news coming from FoLEx is that they will be listing Ripple’s XRP as a currency to be traded from the very beginning. This has not been the rule. In fact, Ripple has struggled hard to get XRP listed as a currency in exchanges. But they’ve succeeded, and they’re making a lot of progress.

There are reasons for that. Ripple never meant for XRP to be a retail currency that could be traded in exchanges among end users and enthusiasts. It wanted its native token to be a mediating currency used by banks and financial institutions so that international payments could be settled quickly, safely and cheaply through Ripple’s network and platforms.

It’s not yet clear what pairs will be offered against the XRP token or if it will be a base currency at all. Other currencies that will be included at the new exchange include Stratis, Cardano, Monero, Tron, NEM, Steem, Stelar Lumens’ XLM and many others.

Folex is based in Georgia perhaps because the country is more friendly to cryptocurrency enterprises than most others in Europe. It allows for good service and customer anonymity at the same time.

They will use Bitcoin as a base currency at the start, which is more or less the rule for most cryptocurrency exchanges in the world. But who knows? Some other, more established exchanges, have adopted XRP as a base coin recently so Folex could make that choice sooner rather than later.

More coins are being announced as the launch time approaches, according to a countdown a the company’s website. It’s hard to predict which could be the next one as the selection of tokens currently announced is already quite extensive.

We wish Folex all the luck in the world. Good quality exchanges are always welcome into the world’s crypto community.

Consequently, on the back of recent Ripple xRapid partnerships and current as well as upcoming XRP listings news, the cryptocurrency has managed to surge 18% within the last 24 hours. Even though Ethereum is in green today too, but XRP has surprised its competitor for 2nd spot as the cryptocurrency has grabbed the position again as I write this. The blockchain firm seems to be doing everything right at the moment.

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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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Bitcoin

The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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Altcoins

Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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Bitcoin

Why Blockchain Projects Keep Failing

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If you’ve been keeping up with news coming out of the blockchain community over the past year, you’ve probably heard countless projects hyped as the next best thing—only for them to fall off completely off the map a few months later. While some of these projects offered no practical solutions and seemed destined to fail, others creatively used blockchain technology to enhance the way we perform day-to-day tasks.

So, What’s the Problem?

For starters, many of these founders have no real experience running a business or managing finances. Instead, teams are usually comprised of programmers and tech geeks with the ability to develop blockchain-driven apps, but have no clue about project management, allocating resources, effective team building or marketing.

What’s more, when you look at the average blockchain start-up’s website, you’ll probably find a list of team members with accolades a mile long. And many of these “achievements” are in similar blockchain projects that have yet to take off. This makes it hard to distinguish between what is hype and what is credible information, which scares off all but the high-risk investor.

Project Success Starts at the Team Level

The sudden interest in cryptocurrency and blockchain technology can be compared to the California Gold Rush. Everyone wants to get in on the ground floor so that they can make as much money as possible.

Unfortunately, this mentality isn’t just…

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