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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

META 1 Coin Trust Announces Commission to Study Global Persecution of Cryptocurrency Projects

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Boca Raton, Florida, 27th October, 2020, // ChainWire //

Collaborating with Other Cryptocurrencies, META 1 Tackles Injustice and Human Rights 

META 1 Coin Trust has announced plans to identify, research and document instances of governmental overreach in cryptocurrency cases globally, as part of its ongoing efforts to advance human rights and individual freedom. 

According to Robert P. Dunlap, Executive Trustee of META 1 Coin Trust, “The malicious attacks on crypto projects globally by overzealous government agencies must be documented and publicized to protect the individual liberties of META 1 Coin holders, as well as issuers and holders of other cryptocurrencies.” He added, “The decentralized, non-jurisdictional reality of crypto has left government agencies often unable to fully litigate cases and the general public should not have to continue suffering due to excessive overreach as agencies clamor to save face.”

META 1 Coin Trust is led by Robert P. Dunlap and Nicole Bowdler, who are both committed to pushing back against unimpeded global persecution of cryptocurrencies. By calling attention to years of organized efforts by government agencies to specifically target cryptocurrency projects, their hope is that the public will see and demand an end to these unjust violations of individual liberty. 

Specific grievances which motivated this initiative include grave concerns over government agencies’ obstruction of individuals’ livelihoods, defamation of character, and libelous false accusations which could tarnish the names of individuals for years to come, long after legal actions…

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Chainwire Launches Blockchain-Focused Automated Press Release Distribution Service

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TEL AVIV, Israel, 13th October, 2020, // ChainWire //

MarketAcross, a world leader in blockchain public relations and marketing services, is pleased to announce the launch of Chainwire, an automated press release distribution service which provides guaranteed coverage and in-depth reports. Chainwire will be a one-stop-shop for the distribution of press releases in the cryptocurrency and blockchain sector. The launch marks the first time that advertisers can reach leading publications in the crypto media with the click of a button. 

While most industries have some kind of PR newswire service, the cryptocurrency sector has become a victim of its own rapid pace of growth over recent years. Since the ICO boom of 2017, there has been a proliferation of blockchain and crypto-focused projects, exchanges, investment firms, and marketing agencies, along with niche news and informational content sites. 

However, the infrastructure to connect this complex ecosystem has been slow to come up to speed, meaning that existing newswire services don’t reach their target audience. It’s estimated that one in five people own cryptocurrencies, so there is currently a significant missed opportunity to reach a massive global readership. 

As a newswire service dedicated to the crypto and blockchain space, Chainwire aims to address this gap. Press releases are distributed to leading publications, offering guaranteed coverage to reach audiences worldwide. The system is integrated with publishers and blogs, enabling accurate reporting via a user-friendly dashboard. It also…

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How Can Foreigners Get Loans in Singapore

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loans for foreigners in Singapore

Foreigners who are residing in Singapore and looking for financing could do so in the form of a payday loan. It is good to find out that you can borrow the money from a reputable lender and that the interest rates are low enough for it to be a viable option. Online lenders that specialize in doing business in the country can certainly help one. These online companies are not only reliable, but their service is fast.

At the same time, many cannot afford a high standard of living. Many individuals cannot afford essentials, such as a car or a house. It can be difficult for the majority of the working class to scrape through on their basic salary. 

What defines a foreigner in Singapore? 

A foreigner in Singapore means that you are not a permanent or natural citizen there. As a foreigner, you will not be holding a Singaporean passport. The rules can differ a little for foreigners and residents. Singapore, being a multinational hub, houses many foreigners within the city. Foreigners come to Singapore for the many attractions it offers. Many people come to Singapore for Work-related purposes. A lot many also come for vacations or to visit a friend or a relative. Some foreigners come with a plan to move to Singapore permanently, attracted by their lavish lifestyle. Singapore also houses many International students attending many esteemed Singaporean Universities.  

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