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Long-standing Ripple Partner R3 Teams Up with Mastercard to Introduce Blockchain International Payment Solution

As per Mastercard’s press release, the blockchain-enabled international payment solution is part of the company’s plans to reinforce its international settlement platform.

Payment leader Mastercard plans to develop a blockchain platform for cross-border settlements in partnership with Ripple-backed fintech research company R3. According to information reaching our desk, Mastercard confirms that both companies have entered into a binding agreement that will see the two firms develop and pilot a payment solution project.

Initially, the payment solution project will strive to connect payment schemes faster while attracting financial institutions and banks with the support of Mastercard’s payment and clearing platform.

The partnership between the two companies brings on board the combined experience of Mastercard platform in payment systems with existing Ripple-powered R3 prowess in developing blockchain solutions. Industry players are hoping the new platform will aid in tackling industry challenges that have been associated with the money transfer such as costly processing fees, liquidity management and scarcity of connectivity and standardization between financial institutions and domestic clearing networks.

According to Ripple partner R3’s Chief Executive Officer, David E. Rutter:

“Since time immemorial, all institutions, large or small, depend on the ability to send and receive funds. However, all too often, the technology they count on proves to be cumbersome and expensive particularly international payments can be a real pain.”

Rutter continued,

“That is why we decided to build Corda specifically for enterprise use cases such as this. We look forward to working with Mastercard in revolutionizing the money transfer sector by supporting the payment giant bring blockchain-enabled settlement to businesses around the world.”

According to the press release that got issued earlier today by R3, the blockchain cross-border payment solution platform will be developed on Corda’s commercial version, the Corda Enterprise, as opposed to the commonly referred open-source Corda Platform.

As per an R3 technical whitepaper,

“Corda does not instruct settlements using a blockchain, and by design, it does not use proof-of-work or miners.”

For those who are not willing to go through the endless whitepaper, Corda is an authentic P2P platform of nodes. Every network of nodes is a Java Virtual Machine run-time environment that hosts Corda services while implementing discrete applications.

According to Mastercard press statement released earlier during the week, the two companies plan to pilot the new blockchain-backed international settlement solution to focus on connecting international payments faster with financial institutions, schemes, and infrastructures.

Mastercard’s Plan to Create More Avenues to Move Money in Association with Ripple Partner

As per Mastercard’s press release, the blockchain-enabled international payment solution is part of the company’s plans to reinforce its international settlement platform. Building on its purchase of Transfast, a global payment firm, earlier this year, Mastercard is positioning itself to be a solution provider in the money transfer industry.

The partnership with Ripple-powered fintech firm R3 promises Mastercard to achieve it’s giant’s multi-rail strategy which strives to see clients choose how their payments are moved.

According to Peter Klien, Mastercard’s executive vice president of new settlement platforms:

“Building a new and better international business-to-business settlement solution by improving global connectivity in the account-to-account sphere is vital to Mastercard’s vision. Our mandate is to deliver international payment infrastructure choice and connectivity, as shown through our recent strategic purchases and partnership, including our recent partnership with R3.”

Seems the Partnership Between the Two Corporate Giants is a Match Made in Heaven

In what can be considered as a match made in heaven, the two corporate giants appear to be cooperating on a whole new level. Before today’s new partnership between Ripple-backed R3 and Mastercard, the payment service provider, Mastercard, had joined the Marco Polo trade finance blockchain that was founded by TradeIX and R3.

It is Marco Polo trade finance blockchain intention to use every relevant payment resource available to settle trade settlements between trading partners who are carefully examined before being introduced into the program.

´ Looking at the history between the two companies, it is evident that there is more to what meets the eye. Mastercard is a global payment service provider while R3 is the owner of a massive infrastructure that accommodates over 2000 experts who work together across various platforms and borders to make Corda a success. And notably, being a long-standing Ripple partner, R3 boasts the capabilities of fast, cheap, and secure transfer of remittances, which certainly will help Mastercard with its mission.

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Cryptocurrencies

Cryptocurrencies price prediction: Bitcoin, Ethereum & Litecoin – American Wrap

Bitcoin Price Analysis: BTC/USD rockets back above the big $10,000 mark

Bitcoin price is trading in positive territory, up 3.40% in the second half of the session. 

BTC/USD is heading back for another purposeful retest of the barrier at $10,500. 

The price managed to stage a rebound, after receiving support at the round figure of $9500.

Ethereum Price Analysis: ETH/USD can fly if $270-290 supply zone is broken down

Ethereum price is trading in the red by 1.40% in the session on Tuesday. 

ETH/USD price action is very much choppy, as seen over the last seven sessions. 

The bulls must break down a barrier of resistance running around the $270-290 range. 

Litecoin Price Analysis: LTC/USD has broken out of an intraday chart pattern

Litecoin is breaking higher today like much of the other cryptos on Tuesday.

The sell-side volume is still much larger so we would need a pick up to ensure the market is behind this move.

At the moment 70.00 seems to be a good area of support for LTC/USD and a break of the 77.30 resistance would be a good sign for the bulls.

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XRP and XLM Have Highest Level of Wealth Inequality Among Top Cryptocurrencies: CoinMetrics Report

XRP and XLM create a non-level playing field for its holders, according to a recent CoinMetrics study

Wealth inequality is a hot-button issue around the globe. With an extreme concentration of coins and tokens in the hands of omnipotent whales, crypto clearly fails to address this problem.  

According to Coin Metrics’ latest ‘State of the Network’ issue, XRP and Stellar (XLM) have the highest disparity of wealth among some of the top blockchains. The later takes the cake when it comes to inequality with whales that hold at least 1/1K of the total supply controlling a whopping 95 percent of all tokens. Must ReadBrad Garlinghouse Compares Ripple to Amazon, Suggests That Central Banks Could Use XRP –

Centralization concerns 

There is nothing shocking about XRP and XLM occupying the two top spots given that both of these cryptocurrencies are routinely criticized for being extremely centralized.

Ripple Labs fully controls nearly 60 percent of XRP’s total supply. To put this into perspective, the company’s former CEO Chris Larsen personally owns 5.19 billion XRP.   

XRP Supply

The same applies to the Stellar Development Foundation (SDF) that holds more than 50 percent of all tokens and pocketed 98 percent of all inflation payouts on top of that.

Bitcoin’s increasing distribution 

Meanwhile, Bitcoin (BTC) appears to be the most egalitarian cryptocurrency in terms of supply distribution. The richest whales hold only 11 percent of all orange coins, a world of difference compared to the altcoins analyzed by CoinMetrics. Ethereum (ETH) and Litecoin (LTC) are at 46 percent and 40 percent respectively.   

The firm pointed out that the increasing level of distribution is a positive development for BTC since it underscores its growing adoption.

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Cryptocurrencies price prediction: Bitcoin, Ripple & NEO – European Wrap – 18 February

Bitcoin Price Analysis: BTC/USD trapped under short-term trendline; long-term bulls still have nothing to worry about

Bitcoin (BTC) is changing hands at $9,750, mostly unchanged both on a day-to-day basis and since the beginning of the day. The first digital asset recovered from Monday’s low of $9,469, however, an upside momentum faded away on approach to $9,800. 

Ripple Price Analysis: XRP/USD is bearish as long as it stays below $0.30

XRP/USD recovered to $0.2950 during early Asian hours only to retreat to $0.2850 by the time of writing. Despite the sell-off, the third-largest digital asset is still nearly 2% higher from this time on Monday and mostly unchanged since the beginning of the day. Ripple’s market value has settled at $12 billion, while an averaged daily trading volume is set at $3.6 billion, slightly lower from the figures registered in recent days.

Ripple

NEO Price Analysis: NEO/USD bullish following Binance Futures support

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears. The losses on Sunday and Monday tested the support at $13.00. However, an ascending trendline support came in handy and put a stop to the bearish pressure.

Bitcoin Price Analysis: BTC/USD trapped under short-term trendline; long-term bulls still have nothing to worry about

Bitcoin (BTC) is changing hands at $9,750, mostly unchanged both on a day-to-day basis and since the beginning of the day. The first digital asset recovered from Monday’s low of $9,469, however, an upside momentum faded away on approach to $9,800. 

Ripple Price Analysis: XRP/USD is bearish as long as it stays below $0.30

XRP/USD recovered to $0.2950 during early Asian hours only to retreat to $0.2850 by the time of writing. Despite the sell-off, the third-largest digital asset is still nearly 2% higher from this time on Monday and mostly unchanged since the beginning of the day. Ripple’s market value has settled at $12 billion, while an averaged daily trading volume is set at $3.6 billion, slightly lower from the figures registered in recent days.

Ripple

NEO Price Analysis: NEO/USD bullish following Binance Futures support

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears. The losses on Sunday and Monday tested the support at $13.00. However, an ascending trendline support came in handy and put a stop to the bearish pressure.


Bitcoin Price Analysis: BTC/USD trapped under short-term trendline; long-term bulls still have nothing to worry about

Bitcoin (BTC) is changing hands at $9,750, mostly unchanged both on a day-to-day basis and since the beginning of the day. The first digital asset recovered from Monday’s low of $9,469, however, an upside momentum faded away on approach to $9,800. 

Ripple Price Analysis: XRP/USD is bearish as long as it stays below $0.30

XRP/USD recovered to $0.2950 during early Asian hours only to retreat to $0.2850 by the time of writing. Despite the sell-off, the third-largest digital asset is still nearly 2% higher from this time on Monday and mostly unchanged since the beginning of the day. Ripple’s market value has settled at $12 billion, while an averaged daily trading volume is set at $3.6 billion, slightly lower from the figures registered in recent days.

Ripple

NEO Price Analysis: NEO/USD bullish following Binance Futures support

NEO is in the green on Monday during the European trading session. The bullish momentum is taking action after a couple of days of the bulls enduring battering from the bears. The losses on Sunday and Monday tested the support at $13.00. However, an ascending trendline support came in handy and put a stop to the bearish pressure.


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