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

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Ripple XRP

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

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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