Is Ripple’s testnet being used for running Thailand-based DeeMoney’s services? | ELEVENEWS
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Is Ripple’s testnet being used for running Thailand-based DeeMoney’s services?

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While strong opposition from government bodies has crippled cryptocurrency’s adoption in the past, the recent involvement of non-financial companies leveraging crypto has been a differentiator for future users. As a result, crypto-leaders including exchanges and token providers are on a partnering spree, aimed at gaining monopoly over new and emerging markets.

Leading this race is Ripple, the crypto-tech giant currently speculated to run the entire network for Facebook’s upcoming stablecoin. Additionally, the company made news for its numerous partnerships with fintechs and banks across the world. While Ripple has been open about such announcements, a Twitter user, @Covalent5, discovered a new code that suggests Ripple’s server being used to host DeeMoney’s service. The tweet read,

“Ripple – DeeMoney – MoneyGram”

Source: @Covalent5

The screenshot details the use of Ripple test network for running DeeMoney’s services. DeeMoney is a Thailand-based financial institution that is currently partnered with MoneyGram for enabling global distribution of currencies. While the client IP address on the screenshot is private (usually to evade detection), the code uses an URL that points to Ripple’s official ripple.com server.

The code’s primary URL makes use of xctest, which is a framework to write unit test for Xcode projects. Additionally, the code shows the use of nginx high performance server that is currently used by companies such as Netflix and Github, which has also led speculators to believe the actuation of the project.

While none of the companies involved, including DeeMoney, Moneygram and Ripple have publicly announced any partnership, Ripple’s recent movements in the international market have given fuel to such speculations.

In what could be yet another confirmation, crypto-enthusiast @TimDoerr, further checked the URL on the screenshot and found out,

“Actual external address below points to Ripple’s hosted Amazon services”

Source: @TimDoerr

This article will be updated post any official confirmation on the part of either of the parties.

Source :ambcrypto

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Imgur Raises $20 Million From Ex-Ripple CTO’s Micropayments Startup

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Imgur, a popular image hosting site, revealed it has received $20 million in venture equity from Coil, a micropayments tool for content creators.

In addition to the funding, Imgur has agreed to build Coil into its platform, which receives 300 million monthly users, to provide micropayments to users who view content, according to a report from TechCrunch.

The partnership will also be marked by a forthcoming premium Imgur membership with exclusive features and content for Coil subscribers. A $5 per month Coil subscription funds creators per second that the subscriber spends consuming their content at a rate of 36 cents per hour.

“Imgur began in 2009 as a gift to the internet. Over the last 10 years we’ve built one of the largest, most positive online communities, based on our core value to ‘give more than we take’” Alan Schaaf, founder and CEO of Imgur, said in a press statement. “Coil’s technology will open up new opportunities for users to give to one another and support the community in new ways.”

Coil was founded last year by Stefan Thomas, the former chief technology officer of Ripple Labs, as a means to pay creators for their labor. It’s subscription service is now in open beta, and it provides extensions for Chrome and Firefox.

Comparable to Spotify, Coil’s Web Monetization API automatically pays creators in XRP based on usage, while the user enjoys the flat subscription fee.

Thomas will join Imgur’s board. Imgur previously received $40 million Series A from Andreessen Horowitz and Reddit.

Coil’s investment stems from Ripple Labs’ Xpring Initiative, which aims to fund proliferation of the Ripple XRP ecosystem. Imgur received US dollars in the funding deal.

source:.coindesk.

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Ripple And XRP (XRP) Can Benefit World’s Central Banks, And That’s The Final Goal

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As we already know, the conventional banking system is experiencing lots of flaws that affect the customers, from slow transactions to high fees. Luckily, Ripple and its XRP (XRP) cryptocurrency can benefit the world’s central banks to perform faster and satisfy their clients’ needs in a more proper way than what’s happening at the moment.

And, as it seems from her latest statements, the IMF leader, Christine Lagarde, agrees with that. Even more, at the beginning of the year, Ripple announced that it teamed up with over 200 financial institutions, mostly global banks.

And, as for the banks’ part, they find themselves in an exceptionally troublesome situation, mostly related to the traditional methods they use for transacting and operating. And there’s where Ripple and its XRP (XRP) cryptocurrency come to the rescue as they offer a modern, faster, and cheaper way for the world’s financial institutions to conduct their operations.

World’s central banks can benefit from Ripple and XRP (XRP)

The most significant competitor for Ripple is SWIFT, that is the conventional method for banks to conduct transactions. The downside of SWIFT is its slow processing and, thus, the latency on which financial institutions carry on the transactions.

“I think in the banking system at large in many, many countries; the difference will not be between those who are disrupted and those who survive. The difference will be between those who are cannibalized because they are not seeing it coming, and they are not embracing it and those who self-induce that cannibalization. […] So that is where I see changes happening now. If you think of Circle, and Ripple and all those – that is where they are active and helpful,” stated Christine Lagarde, the IMF director, this year, suggesting world’s central banks to adopt Circle or Ripple and its XRP (XRP)-based operations.

In short, Ripple and XRP (XRP) have the sustain of Christine Lagarde, the IMF leader, so, most likely, we’ll soon witness a change in the banking system. And when thinking that Ripple- and XRP (XRP)-based methods are all about instantaneous cross-border transactions, we believe that soon everything would change, triggering the rise of Ripple and XRP.

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Ripple (XRP/USD) forecast and analysis on June 26, 2019

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Cryptocurrency Ripple (XRP/USD) is trading at 0.4667. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Ripple (XRP/USD) forecast and analysis on June 26, 2019

As part of the Ripple course forecast, a test level of 0.4580 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.5090. The conservative Ripple buying area is located near the lower border of the Bollinger Bands indicator strip at 0.4460.

Ripple (XRP/USD) forecast and analysis on June 26, 2019

Cancellation of the option to continue the growth of the Ripple rate will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing quotes pair below 0.4350 area. This will indicate a change in the current trend in favor of the bearish for XRP/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ripple (XRP/USD) forecast and analysis on June 26, 2019 implies a test level of 0.4580. Further, growth is expected to continue to the area above the level of 0.5090. The conservative area for buying Ripple is located area of 0.4460. The cancellation of the option of cryptocurrency growth will be a breakdown of the level of 0.4350. In this case, we should expect the continuation of the fall.

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