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Ripple gets adopted by TransferGo to empower Europe India payments

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On Wednesday, TransferGo announced through a press release that it is making use of Ripple’s blockchain service to enable payment access to India. The payment access will allow the money to be transferred to India from anywhere in Europe. TransferGo made it known that its Ripple-powered payment platform is a multi-billion dollar one that will foster easy transactions to India, and debunk Swift payment services in the country.

The company says,

Ripple helps to replace the multiple slow incumbent communications systems, most prominently Swift, where transfers can take up to 2-3 days.”

TransferGo is a London-based company that offers cross-border payment solutions. The company’s services are available in Europe and other countries such as HongKong. U.S, Israel, India, Canada, Australia, South Africa, and the Philippines.

Concerning the new bonding with Ripple, the Cheif Executive Officer of TransferGo, Daumantas Dvilinskas, says:

We’re delighted to be one of the first companies in the market to offer our customers real-time money transfers. By using Ripple revolutionary blockchain technology, we’re able to establish real-time communication between our banking partners and us in India, allowing TransferGo customers to send money to family and friends or make international payments immediately. “

Additionally, besides the payment access between Europe and India which occurs with minimal charges, TransferGo has plans to initiate a free service to Europe and India. It is important to know that this service is without any hidden fees. The free service will also make use of Ripple’s technology, however, in it, the transactions will get processed in 2 to 3 days.

It is not yet clear which of Ripple’s services (xCurrent or xVia) will be used as it wasn’t stated in the press release, but that may become clear to the public very soon.

India’s remittance payments are increasing chronologically. The inward and outward remittance of the country has grown to about 40%, and Ripple’s aim is to make these remittance payments easier, cheaper, and faster. As things stand, the blockchain firm is becoming the bedrock of remittance payments in India and TransferGo stated that Ripple’s blockchain network “opens up new horizons for TransferGo to develop additional products and services.”

The use of Ripple’s blockchain technology by TransferGo serves as good news for its customers because they can now send money to any place in Europe effortlessly.

Ripple’s SVP, Marcus Treacher used the opportunity too as he stated:

At Ripple, we believe blockchain technology has the power to make money move as quickly as information moves today. TransferGo is a great example of a forward-thinking payment provider that’s leaning into new technology to facilitate real-time, cross-border money transfers for their customers. That’s a big step forward.”

It is important to know that Ripple is being adopted by top financial institutions in India increasingly. Recently, Kotak Mahindra Bank, which is India’s second largest bank, announced its intentions to partner with Ripple to enhance its cross-border payments.

Another bank in India, named Induslnd, also noted its intentions to use Ripple for cross-border payments in February this year; other banks in the country are warming up to use Ripple.

Ripple is making waves in India and it seems there is a war forming between the blockchain company and Swift. Swift recently declared its intentions to launch a GPI to aid remittance payments. Nevertheless, we are likely to see that Swift’s experiment very soon.

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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.

Photo by J A N U P R A S A D on Unsplash

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How Cryptocurrencies Will Change Online Gambling in the Future

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Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

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VOLUM (VLM) Announces Commencement of Token Generation Event

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ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

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How to Secure Yourself in Relation to Bitcoin: Top VPN Services

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Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

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