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Ripple’s XRP will continue to expand, even as SEC stays silent

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Ripple XRP
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Ripple’s XRP hodlers and fans have been complaining for quite some time about XRP’s absence from Coinbase listings. The most common explanation for this (which is hypothetical) is that the security lawsuits that are pending over Ripple are scaring Coinbase from including the cryptocurrency in its platform.

It’s all a problem of perception because only the SEC can decide whether if XRP is a security or not, no court decision can settle that question. The SEC has remained silent about Ripple so far but it’s already ruled that neither Ethereum nor Bitcoin can be considered securities, because of the high degree of decentralization they have, so there is no need to regulate them. This sets a precedent for Ripple’s XRP as well and helps understand why Ethereum Classic and Bitcoin Cash were listed by Coinbase.

Just a couple of weeks ago, Coinbase announced its intention to explore the possibilities to list five new digital assets in its platform: ZCash (ZEC), Stellar (XLM), Cardano (ADA), Ox (ZRX) and Basic Attention Token (BAT). Is that because they don’t have any pending lawsuits?

But a more important question is if these lawsuits and the SEC decision can really hamper XRP’s development throughout the world which is, let’s not forget, much bigger than the US, especially when it comes to cryptocurrencies.

The answer is short, sweet, and simple: no.

First of all, while Ripple Labs is still based in San Francisco, its activities, partners, and token hodlers and users have not centered in the United States anymore. Just to cite one example let’s talk about SBI Ripple. This is a company co-founded by Ripple Labs and Japan’s SBI Bank.

It’s based in Japan, and it’s instrumental in SBI’s brand new Virtual Currencies Exchange platform which is built around the XRP coin. SBI’s CEO is very enthusiastic about this project and keeps insisting that this will be the world’s most important exchange of its kind once it’s working at full steam.

The Californian company is also opening offices in several places around the world (Mumbai, for instance) so if anything hits the fan, they could just pack their bags, leave San Francisco, and head to one of their multiple offices scattered around the planet and keep working from there.

One particularly important partner is Banco Santander, a vast global bank with a substantial presence in Europe and Latin America which is considered to be the world’s best bank. Santander’s OnePayFX app is already deployed in those two continents, and it works by using XRP and Ripple technology. SBI Holding is using Ripple’s xCurrent for its remittances services, called SBI Remit.

A critical fact that not every crypto aficionado understands is that Ripple Labs and XRP are not the same things at all. One is a private company that provides financial solutions for international payments, while the other one is a fully decentralized cryptocurrency whose workings are entirely independent of the company.

Yes, Ripple is the most prominent owner of XRP tokens in the world, and yes, it was Ripple Labs who created the XRP currency. But the cat is out of the bag, and it’s found a life of its own. Ripple’s CEO has been very vocal in explaining that if Ripple were to disappear tomorrow, XRP would still stick around because it is now an entirely different entity. Besides, the lawsuits are against Ripple and not XRP.

Decentralization, the core value of any blockchain project, has other advantages. It’s enabled Ripple and XRP to gain presence all over the world and not to worry too much about developments in the US only. Ripple and XRP have a strong presence in India, Japan, and Europe. So even if restrictions should appear in their home country, they will still be able to thrive from beyond.

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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.

Image courtesy of Jace Grandinetti on Unsplash

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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