There is no doubt that Ripple’s XRP is a unique cryptocurrency that is taking the shape of a protocol more than that of typical virtual currencies. XRP is the default token for Ripple.
Thanks to its unique nature in comparison to some of the other virtual currencies, Ripple (XRP)has succeeded in generating a lot of attention and interest from traders as well as investors.
In current time, hardly a day passes by without some information or news about Ripple (XRP), and as a member of the fast-growing virtual currency universe, Ripplecontinues to enjoy remarkable growth in fortunes.
The five-year-old business venture, which is led by Brad Garlinghouse, Ripple’s chief executive officer, is on the upward trend with its virtual currency, XRP, rubbing shoulders with the likes of Bitcoinand Ethereum.
It is this time we remember Ripple’s audacity last year when it compared itself to revolutionary companies such as Uber and Airbnb; companies that have managed to transform their respective markets
Why Should One Invest in Ripple (XRP)?
Ripple (XRP) Provides a Service
As one of its main strengths, Ripple (XRP)provides to the market a smooth experience when transferring funds globally using the power of its blockchain technology.
According to Ripple, this attribute allows financial institutions and banks to process their client’s settlements anywhere globally reliably, instantly, and almost free of charge.
Ripple Labs trades its digital token, XRP, through exchanges and institutions. In Q3 of last year alone, Ripplemanaged to trade over 53 million US Dollars’ worth of XRP.
Financial Institutions and Banks Require Virtual Currencies
Going by the technological advancements being witnessed globally, banks and financial institutions require vast amounts of liquidity to operate. This is one of the most pressing challenges banks and financial institutions have to face.
However, leading figures within the virtual currency market indicate that virtual assets such as XRP can be the perfect solution and tool to deliver and solve the liquidity problem. Crypto enthusiasts are already investing their money with the hope that banks will adopt a lot of Ripple (XRP)in the future to become their reserve currency.
Ripple (XRP) is Unique
In comparison to Bitcoin, for instance, Ripple (XRP) is not generated and does not depend on miners or mining. The mother company already generated roughly more than 99 billion virtual tokens.
Almost 55 billion of this number will be dispersed to users. Potential investors will have who wish to invest in Ripple (XRP)are required to have a digital wallet, the same way as other virtual coins such as Ethereum and Bitcoin.
Ripple (XRP) is Gaining Traction
Ripple (XRP)appears to be adopted and accepted by many financial players and exchanges around the globe. As of my last count, 60 exchanges have listed the digital coin on their platforms paving the way for the cryptocurrency to be adopted by financial institutions. Such companies include the likes of MoneyGram and other major financial players.
It is Profitable (for people with lots of patience)
In recent months, it is true Ripple has suffered negative price volatility, but it is in such situations that investors and traders can make money. Also, going by the number of companies that have adopted the token, it is just a matter of time when Ripple (XRP) goes the moon. To be honest, it is hard to tell when, but as things stand, it sooner or later will. Patience is the key.
After a Tumultuous 2018 for Crypto and the Birth of Stablecoins, Here is what to Expect in 2019
2018 was the year of the bear run and the stablecoin. So what does 2019 hold for the crypto world? While it is impossible to tell what exactly will happen in 2019, one can make a good guess. Here are the five likely scenarios that will play out in 2019 for crypto:
Tether Will Lose Traction
For years, there have been issues raised about how legit Tether is. Despite this, it has remained a popular stablecoin in the crypto world.
However, rival stablecoins such as Coinbase, Circle, and Gemini could offer a challenge. This will erode the monopoly that it has enjoyed in the past. Even if Tether does not shutter as Basis did at the end of 2018, it will most likely not be as dominant.
Facebook Will Mint The WhatsApp Crypto
Facebook has been interested in creating a payments platform for years. The effort started in 2014 when it poached David Marcus of PayPal.
Marcus became the head of messaging products at the company. However, he was picked to head the company’s blockchain project in 2018, which is still shrouded in mystery. Recent reports indicate that he might launch a WhatsApp-based remittance service in India. After a rough period in 2018, the company could use a win in 2019.
The Regulators Will Go After Big Fish
The SEC will take on the major players in crypto in 2019. For instance, it might decide that XRP is unregistered security.
If that happens, Ripple could be hit with huge fines. It might also decide to shut down an exchange for not adhering to anti-money laundering laws. Besides that, celebrities who have used their star power to pump ICs might be in trouble.
The Bitcoin ETF Gets Approved
As the crypto world evolves, it could help the stage for a BTC traded fund also called an ETF. After the bubble burst, investors that are more reasonable are joining the crypto world.
Right now, a firm called Bakkt, created by those behind the NYSE wants to launch a BTC futures market. This could help to improve liquidity in the crypto world. Thus far, it is known that an SEC commission is seeking to have the BTC ETF approved. Before that, a VanEck might or might not be approved next month. It is worth noting how that works out.
The Bear Run Persists
The crypto world has been in a bear run since they reached a high in 2017. Right now, various factors such as volatility in the equity market, a possible economic recession, and global geopolitics might reduce appetite for crypto assets for now.
However, there is a bit of disagreement on this. Some experts believe that prices might bounce back soon. Others believe that crypto prices have not hit their low yet.
There is a lot of agreement and disagreement over whether these predictions will happen. However, there is quite good evidence to support them if you look at the crypto world right now. It is also worth noting that this is a young industry and anything is possible.
Dan Hedl: Satoshi’s Bitcoin Vision was a Viable Banking Alternative, not a New Visa for Payments
The former Blockchain executive and a cryptocurrency veteran, Dan Hedl, has said that Satoshi Nakamoto, the creator of bitcoin, wanted bitcoin to be an “alternative to banks”, and not a “new visa.”
In a series of tweets on January 14, Hedl took up an argument with other cryptocurrencyenthusiasts who believe that the idea of Bitcoin was to be a currency for payments.
1/ Satoshi’s Vision™ is a silly endeavor, as it doesn’t matter what it was, we are where we are now. However, those pushing the “Bitcoin was first made for payments” narrative insist on cherry-picking sentences from the white paper and forum posts to champion their perspective.
— Dan Hedl (@danheld) January 14, 2019
He argued that those who have this mere belief haven’t quite understood bitcoin’s full implications from Satoshi’s vision, which is clearly shown in Bitcoin Whitepaper. In his main tweet, he said that:
“Satoshi’s Vision™ is a silly endeavor, as it doesn’t matter what it was, we are where we are now. However, those pushing the “Bitcoin was first made for payments” narrative insist on cherry-picking sentences from the white paper and forum posts to champion their perspective.”
World Needed An Alternative Bank, Not Another Visa
In 2008 when bitcoin whitepaper was published, it happened that there was a financial crisis the same year. During that time, many had lost their trust in Banks, so it was perfect timing for bitcoin to be popularized. According to Hedl, Nakamoto has cleverly planted a seed at the right timing.
Hedl also noted that:
“How do we determine Satoshi’s intention? We need to look at his ideology, description of functionality/architecture, timing, and audience. Let’s start with how Satoshi describes the problem Bitcoin solves. In his first public comms after the whitepaper, in the first paragraph: ‘The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.’”
Hedl believes that bitcoin is largely a store of value and not an alternative to payment networks such as MasterCard and Visa.
In a tweet, Hedl noted that:
“The world didn’t need a new VISA; they needed an alternative to banks.”
When it comes to capacity, though, bitcoin will outdo payment processing networks like MasterCard and Visa, especially through the Lightning Network, which allow transactions to be processed off-chain.
Ford and LG to Use IBM’s Hyperledger Fabric Blockchain to Track Supply Chains to End Child Labor
IBM will be working in order to improve the supply chain in the metals industry using the Hyperledger Fabric as a blockchain platform. The intention is to track cobalt that is mined in the Democratic Republic of Congo until it reaches a car maker plant. Another project will also be tracking metals from Mexico until they reach the Ford Motor Company plant.
The first project will start with a 1.5 ton of cobalt that will be mined in the Democratic Republic of Congo. After it, it will be transported to China, where it will be refined. In Korea, it will be used to create a battery and it will be used in the United States as a battery for an electric car. However, everything will be tracked using IBM’s blockchain.
With this pilot, each company will be checking that the material has been treated with the standards followed by the Organization for Economic Cooperation and Development (OECD). The information was shared by IBM’s general manager for global industrial products, Manish Chawla.
On the matter, Chawla commented:
“Blockchain is the most effective technology to provide real-time access to all the due diligence processes, provide visibility to the supply chain from the miners to the market. Our role in IBM is that we are bringing people together for this project and developing the platform.”
Although the intention is to improve the supply chain and have better control over the products handled there is still going to be needed human intervention. There will be inspectors controlling that the mines work properly and following international standards.
Currently, if there are workers that are working in bad conditions, the employee will be recording this on the system and the RCS Global headquarters will be alerted. In this way, they can inform the mine that the batch that they will deliver does not meet the international guidelines.
If everything goes as expected, the employee will just print a code bar that allows other companies and parties in the supply chain to confirm that this batch was mined according to international regulations.
Using blockchain technology the process will be easier. The initial monitoring will take place at the mining site. RCS employees will not have to be there full-time. Instead, everything will be auditing information provided by the management of the mine. Barcode tags will be used for assets on the blockchain and audits and other reports will be stored using an IBM server.
Each of the participants will be working as validators having their own nodes. As more companies join this pilot and program, the will have the possibility to have their node supported by IBM.
At the same time, using Hyperledger technology, customers will be able to protect their information. Companies will be able to share the information they have with third-party partners such as NGOs. In the future, and if the project succeeds, other companies could join such as automakers or electronics manufacturers.
IBM is also working with other companies such as the Canadian startup called MIneHUb Technologies, Goldcorp, Wheaton Precios Metals and many others, including ING Bank.
Back in 2018, IBM and other mining companies and refiners started to work together to leverage blockchain technology and improve the mining industry in different countries in Africa.