There have been four blockchain firms, Fetch.AI, NEM, Ripple, Emurgo and Cardano which have all started to work together to create an association of European blockchain organisations, Blockchain for Europe. According to the new organisation, the policy debate in Europe has been fragmented, so that the firm’s objectives are to foster the understanding of blockchain potential within the EU.
In November, the association hosted a summit which brought stakeholders together from around the world in talking about issues such as governance, trade, identity, transport and so on.
The head of regulatory relations, Dan Morgan said that “this is a critical time for policymakers in Europe as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology.”
Co-founder and president of the NEM foundation, Kristof Van de Reck also commented on the matter saying:
“There is a lack of unbiased information especially when it comes to the open and decentralised application of the technology. By joining forces with different stakeholders that have blockchain at the core of their business, we aim to provide insights which are not tailored to the agenda of specific organisations or stakeholders.”
This last statement is provided by a firm which provides blockchain.
“The convergence of technologies like machine learning, AI and decentralised ledgers delivers the opportunity for a world where technology works more effectively for the benefit of us all.”
Blockchain in Europe is looking to the future for engaging in conversations with policymakers relevant industry players and academia.
Remaining on the same topic, the banking giant Santander and BBVA were two of the banks which were involved in the European Commission’s planned launch of the International Association for Trusted Blockchain Applications in 2019.
BBVA said that the purpose of this publicly sponsored initiative is to “garner support from private blockchain and DLT experts to contribute to outline the EU’s strategy regarding these technologies.”
The head of research and development at BBVA, Carlos Kuchkovsky commented on the matter saying:
“Blockchain and other new technologies – artificial intelligence (AI), for example – have to be understood as simple pieces that make digital ecosystems reliable.”
Source: Crypto Daily
XRP Price Stable Against Coinmotion Criticism
On Feb 15, the XRP is moving up slightly, trading at $0.3089.
Over a few weeks, the crypto has been forming a triangle, still without testing either the resistance or the support. The MACD is however moving up, which makes the resistance breakout at 0.3047 more likely; this may then push the price to 0.3230. The overall trend is descending, though, so once the resistance at 0.3047 gets broken out, the price may also be sent to the support at 0.2899 and then break it out, heading towards the midterm support at 0.2804, and the target at $0.2470.
Coinmotion, a crypto exchange based on Finland, added the XRP to its portfolio. At the same time, the exchange published an article called XRP Is a Centralized Digital Currency, saying that the altcoin is not really a crypto.
The article author, Pessi Peura, says the investing process shows that Ripple is more like a security than a crypto. Besides, the token is developed by a single company, which is risky: in case Ripple Labs loses its reputation in any way, the XRP will have big problems.
Finally, Peura says Ripple Labs is controlling its tokens, which is totally against the decentralized network principles. This is actually the most curious thing, as Ripple Labs says its token is autonomous, and no monopoly is possible.
Ripple has not commented on the article yet, but is likely to comment soon, as the company is usually quick at reacting at any criticism in the media. Most likely, Ripple Labs will say the usual thing regarding XRP having nothing to do with securities.
Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.
Bank-based Cryptocurrencies Not Realistic: Ripple CEO
ipple Chief Executive Officer (CEO) Brad Garlinghouse recently said that bank-based cryptocurrencies are not realistic and he believes they are “deeply misguided” for the entire industry.
These remarks come in the wake of the news reports that announced that the international bank, JP Morgan was all set to announce its own coin, JPM token. As earlier reported by Crypto-News India, the trials for the cryptocurrency, named as “JPM Coin” will begin in a few months and is designed for instant settlement of payments between clients. With the launch of its new cryptocurrency, the bank is preparing for the future to settle the transactions at lightning speed similar to that of Bitcoin rather than relying on old technology like wire transfers.
At the time, Umar Farooq, J.P. Morgan’s Head of Blockchain projects had said, “So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction. The applications are frankly quite endless; anything, where you have a distributed ledger which involves corporations or institutions, can use this.”
This is not the first time Garlinghouse expressed doubts about bank-based cryptocurrencies. In 2016, he had reportedly said, “A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out.”
Detailing those scenarios, the Ripple CEO had stated, “Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their own digital assets with their own sets of rules and governance.”
Throwing in a good word about XRP, the CEO said, “We strongly believe banks need an independent digital asset to enable truly efficient settlement and we believe XRP is best positioned for that role.”
It remains to be seen, how exactly XRP intends to do what it had set out to do.
Liked what you read? Join us on Telegram
Ripple new version of XRP Ledger 1.2.0 launched
- XRP Ledger requested to update the code before February 27.
- XRP Ledger 1.2.0 is more resistance to censorship.
The San-Francisco-based blockchain company Ripple is reported to have released a new version of its renowned XRP ledger 1.2.0. The new version is designed to improve user experience as well expand the range of services it is offering.
The users of the ledger are requested to update to the latest version before February 27, 2019. The upgrade is vital because without it, the server won’t be able to determine the authenticity of the ledger and in return transactions will not be processed neither will they be submitted.
What has changed?
The new version according to the team at Ripple, is more resistance to censorship. This means that the transaction being processed cannot be determined by any single entity. Moreover, the transaction will remain immutable after entering the ledger. While the previous version was resistance to censorship, the team claims that this version greatly improves the feature. Warnings will be issued if there are attempts to interrupt the working of the ledger.
Furthermore, the upgrade has integrated what is commonly referred to as MultiSignReserve amendment. Ripple has now made it easier who take part in signing transactions while reserving only 5 XRP. Other updates included bug fixing and removal of errors on two transactions.
The company has also launched a bounty program. Developers have been requested to review all the updates in the new version and communicate to the company in the event any vulnerabilities are detected.