Siam Commercial Bank Hint at XRP Integration

Thailand’s biggest commercial back, SCB, kicked up a bit of a fuss when they replied to a question from a user on Twitter earlier this month.
The tweet, which has since been deleted, said that an ‘‘XRP system will be announced soon’’. As expected, XRP fans were all over this potential ‘leak’ but it seems it was a big misunderstanding, as moments later they replied to another users comment, with the following:

‘‘We are so sorry for the previous information of the previous post. As of now, we have no plan on using XRP.’’

If SCB were to introduce the integration of XRP, it would mean that cross border money transfers and settlements would be much quicker. However, with them taking back their original tweet, it does look doubtful it will happen.

Some people were quick to point out that the removal of the tweet may have been due to some legal agreements between Ripple and SCB. On May 22nd, Siam Commercial Bank tweeted saying that they will be ‘‘using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement’’ and previous to this tweet, SCB trialled a cross-border payment using Ripple. Hope may not be lost for Thai XRP fans after all.

We will be using Blockchain Technology for ripple but as for XRP, you may have to wait for further announcement.
— SCB Thailand (@scb_thailand) May 22, 2019
As well as the potential collaboration between XRP and the Siam Bank, the Thai government have formed Thailand Blockchain Community, an independent organisation which will be experimenting with blockchain tech to see how it can be integrated.
This Blockchain Community has 22 members, including people from the Thai Bankers’ Association as well as 7 state-owned enterprises.
Source: Crypto Daily

Hyperledger Accepts New Members Including Microsoft & Ethereum

Hyperledger, the umbrella project of open-source blockchains and related tools, has announced that it has accepted eight new members and launched a new project focusing on new infrastructure for decentralised identity. This includes the Ethereum Foundation and Microsoft.

The Ethereum Foundation is proud to lend our support to the efforts of both the @EntEthAlliance and @Hyperledger through our membership today. Together, we’ll continue to drive forward #Ethereum’s progress and adoption.
— Ethereum (@ethereum) June 18, 2019
The executive director of Hyperledger, Brian Behlendorf said:

“The mix of blue chip technology companies, international organizations, logistics and manufacturing players and academia that have joined us from point around the world show the widespread interest and investment in open source enterprise blockchain technologies. This broad-based involvement is what drives our expanding portfolio of open source projects, which are fully conceived, developed and advanced by the ever-growing Hyperledger community.”

An almost spin-off project from Hyperledger is Hyperledger Aries following Ursa, which provides a library advanced cryptographic operations consolidated from other Hyperledger projects. With Aries, this project follows the work of Indy to provide a protocol on a decentralised identity.
The announcement states, that Aries intention is to:

“Provide code for peer-to-peer interaction, secrets management, verifiable information exchange, and secure messaging for different decentralized systems… Foster practical interoperability in support of ongoing standards work and extend the applicability of technologies developed within Indy beyond its current community components from the Hyperledger stack into a single, effective business solution.”

The Chief Trust Officer at Evernym explains that Aries is different from the Indy project:

“When it first began, the Hyperledger Indy project included code for all three of the lower layers…This was very powerful, but also somewhat overwhelming for new developers. And it gave the impression that layers 2 and 3 were tied to the Hyperledger Indy permissioned blockchain code at layer 1.”

Source: Crypto Daily

British Member Of Parliament Claims BTC Is A Scam

You and I may love everything crypto but the industry isn’t without its critics. There are plenty of Bitcoin bears out there, some of them are popular analysts that will use their platform to rip into the digital asset such as Nouriel Roubini, who is renown for predicting the 2008 financial crisis.
But despite his clever prediction, he is a hater of Bitcoin and has been since 2009. Roubini, also known as Dr Doom has shared an article written by an English MP, who stated:

“The Bitcoin Scam: Despite the Utopian claims of its proponents, Bitcoin is a right-wing nightmare which facilitates tax evasion, money laundering and environmental degradation. By Alex Sobel, only UK MP with a computer science degree. So science-literate”

The author, Alex Sobel is a member of parliament for the North West of England in Leeds. He claims BTC is a scam and said that the flagship currency has promised a lot but never delivered on those promises.

“Bitcoin launched in 2009 when the despair of the last global crash provided the perfect context for the growth of subversive financial technology that aimed to upturn the old order. But, while this might be the narrative, bitcoin, in reality, does no such thing. What began as a utopian project of monetary secessionism has, for the last few years, been shifting ever closer to the worlds of politics and finance — the realms its early adopters argued they were escaping.”

The MP points out that cryptocurrencies give people a chance to enter a stateless world where their money isn’t looked after by banks but by maths instead:

“…Central banks are actively reducing the value of savings and income through the pursuit of inflationary monetary policy, some will say. Cryptocurrencies, meanwhile, offer ordinary people a chance to escape into monetary sovereignty — into a ‘stateless’ world where their wealth is managed not by venal banks or governments, but by mathematics. For others, they represent the rebirth of the gold standard and will serve as a reliable store of value and a future currency system when the inevitable collapse of the global financial system occurs.”

In terms of price, Bitcoin has been performing well this year though. Earlier this week the price surged across the $9k mark at long last and has given many enthusiasts hope for the future.
Source: Crypto Daily

How Ethereum Is Changing Life Insurance Policies With MetLife

The New York-based life insurance firm, MetLife is hoping to improve the life insurance claims process by utiling the Ethereum blockchain. MetLife’s Singapore-based incubator, LumenLab is teaming up with Singapore Press Holdings and NTUC Income in order to help launch a smart contract platform built on Ethereum Lifechain.
Prior to this, MetLife used blockchain tech and public ledger for a mobile app called Vitana, which was supported by Ethereum to pay out claims to pregnant women who have contracted gestational diabetes. The main smart contract platform being used in Lifechain will be in a very similar light to what happened when Vitana first piloted.
The CIO MetLife Asia and CEO of LumenLab, Zia Zaman recently spoke in an interview with Forbes where he said:

“The future of distributed ledger technology in life insurance will somewhat depend on public sector involvement. Those jurisdictions and governments that are more innovative will see citizens and policyholders in their jurisdictions benefit from less friction, more fulfilled payments, and a general overall improved experience.”

Life insurance is, of course, a very private matter and in some cases can leave family members questioning whether the deceased was insured or not. This innovation could also lower prices and develop new services around tokenisation. When families lose a member, Lifechain will ‘programmatically’ determine if a person was protected by a policy and will automatically file a claim, eliminating the several steps involved in the process.

“A death certificate will be issued by a government database, following which the system retrieves the deceased person’s National Registration Identity Card. This is further encrypted onto the Ethereum blockchain and this triggers queries on NTUC Income’s database looking for a matching policy.”

So after a match is found, Singapore Press Holdings will inform members of the deceased and release a obituary, while the NTUC income initiates the life insurance claim process.
Zaman has also spoken on Facebook’s latest announcement of its upcoming Libra coin. The CEO said:

“We have no plans on doing that, nor have we thought about it for our existing use cases. That doesn’t preclude it from the future of course, but for now we have not thought about it.”

Source: Crypto Daily

Bitcoin Is Now The 9th Biggest Currency In The World

At the currency time of writing, Bitcoin is now as big as Russia’s monetary base.
Yes, you read that right! This means Bitcoin is the ninth biggest currency in the world and with the price making further gains, who knows where it will end up…
According to a recent tweet from Crypto Voices showing a graph of the world’s monetary bases, we can see that gold still dominates the monetary systems with a $7.7 trillion supply but over the next few years, Bitcoin could make its move.
When it comes to a country’s monetary base, it is measured in terms of the total amount of currency in circulation or held in commercial deposits in the central banks, rather than its gold reserves.
After gold, you might think that The United States would take second place but it is in fact Japan. But with the $25 trillion debt the US has garnered over the years, this shouldn’t come as much as a surprise.

Nations that are rich in their oil reserves like the United Arab Emirates and Saudi Arabia don’t appear the graph. You might think this is because their wealth is held in oil rather than fiat but as Crypto Voice says:

“Don’t know their methodologies, but Saudi Arabia and Denmark, for example, are pegged currencies, so their base money is the USD and EUR, respectively, and shouldn’t be counted. The correct economic comparison is the monetary base value of each currency’s central bank.”

Taking silver and gold out of the equation, Bitcoin is the ninth biggest currency in the world. Even with the two assets included, it is the eleventh biggest, which is still impressive for a currency that’s only been around ten years.
Bitcoinist ask how significant this is, to which they say:

“With a market cap currently at $162 billion and with some analysts predicting a BTC value of over $40k by the end of 2019, after just 10 years of being created, it’s a pretty big deal indeed.”

With the adoption of crypto rising, it could be but a few years before it catches up with the monetary base of that like India, Switzerland, UK and even the US.
Source: Crypto Daily

How Blockchain Will Track Medicinal Cannabis In Canada

The Vice President of Business Development at Shoppers Drug Mart said they are teaming up with TruTrace Technologies in order to start a blockchain-based ledger to be able to keep up with the quality of the medicinal herb. This is a venture that will address 1,300 of the companies stores across Canada.
Supply-side logistic is just one area where the blockchain tech shows definite promise. It is especially pertinent to medicine because every product needs to be properly sourced to make sure of its safety. According to a recent statement by the VP of Business Development, Shoppers Drug Mart plans to kick off this new technology to help keep an eye on the stock of the cannabis.
The Vice President at the firm, Ken Weisbrod has said that the medicinal cannabis industry is one where transparent oversight is well-needed.
Speaking at the World Cannabis Congress in Saint John, in giving his first-ever public remarks in regards to the shoppers’ cannabis business he said:

“This is the future for medical cannabis in the world. I know the U.S. is looking at what we’re doing here, and it’s really important that we take this leadership stance.”

Shoppers Drug Market Corporation is currently running around 1,300 stores in Canada and has more than $12 billion in cash and stock.

This makes it the biggest pharmacy chain in the nation.
The CEO of TruTrace, Robert Galarza has said:

“We think this push with Shoppers will hopefully lead into a similar relationship with the Walgreens and CVSs of the world. There’s skepticism right now from the medical industry and we’re trying to help breach that; it all boils down to information. Information is power, data is power.”

Medicinal cannabis has been legal in Canada since the start of the century in 2001. In fact, recreational weed was made legal just last year but even so, a lot of doctors won’t prescribe it as a treatment.
Weisbrod said:

“There are about 85,000 physicians in the country and the majority have not embraced this drug yet,” he said. “Quite frankly, they need more information and more data about the drugs they’re putting their patients on.”

Source: Crypto Daily

Exchanges Are Exchanging In-House Tech With Service Providers?

Cryptocurrency exchanges have been in a slow recovery pattern after a couple of major hits last year left the entire market reeling. Poorly executed technology led to major operational failures, including theft and loss.
A dismal financial performance throughout the market left exchanges in a bad state as well. Through the chaos, however, developers continue to work behind the scenes to build new ideas and improve on existing technology, coming up with some innovative ways to help the industry grow
State of the exchange market
As 2019 ushers in a definitive end to the nightmare that was the 2018 digital currency bear market, cryptocurrency investors are breathing a collective sigh of relief.
Plummeting value and low investor confidence were not the only low points for the 2018 cryptocurrency market. Skyrocketing trading fees, the emergence of traditional exchanges rather than blockchain-based platforms, and unstable digital asset holdings within exchanges all caused confusion and general annoyance.
The cryptocurrency exchange sector possibly took the biggest hit from all this chaos. Regulatory changes crippled their trading capacity. Theft from hacking hit all-time highs. In fact, the 2018 Coincheck hack is now considered the biggest cryptocurrency exchange hack of all time.
One exchange, QuadrigaCX, essentially imploded following the untimely death of its founder, Gerald Cotten in November 2018. Investigators from accounting firm Ernst and Young unearthed major problems with the crypto exchange.
Believe it or not, the exchange problems went well beyond the obvious, initial issue, which was that over $160 million USD in investor cryptocurrency was irretrievable. Cotten was the only employee at the exchange. He alone knew the locations and access codes of the cold wallet where the majority of Quadriga assets were stored.
In addition to $160 million in missing funds, Ernst and Young also reported problems such as shoddy accounting practices, misuse of corporate assets, and unexplained debt.
With accounting transparency as one of the core features of any cryptocurrency platform, how does an exchange go so far astray? This disaster can be explained. And it can also be prevented.
Centralized solutions
New regulatory standards within the cryptocurrency space offer security for investors and exchanges alike. While some argue that regulation only detracts from the decentralization standard that cryptocurrencies were built upon and most still seek to uphold, it also serves an unmet need.
That need is to protect investors from theft, fraud, and other unscrupulous practices. The United States Securities and Exchange Act of 1934 was enacted to protect consumers in the wake of a tremendous financial disaster, namely the 1929 Stock Market Crash, which directly triggered the Great Depression.
With the growing adoption of cryptocurrency as a payment method, store of value, and unit of account, digital assets are complex, and not limited to one country.
China’s tumultuous relationship with cryptocurrency is well known. Its ban on cryptocurrency exchange activity is ongoing.

The United States is taking a different route, essentially seeking to emulate the Securities and Exchange Commission (SEC) in the digital space. While digital currencies are not currently a threat to the Federal Reserve, the SEC and other governing bodies seek to proactively manage any risk that may arise with further growth of the cryptocurrency market.
Centralization issues are emerging from within the exchange community as well. Particularly over the past year, as cryptocurrency prices only fluctuated, but crashed, issues with liquidity in smaller exchanges have led to larger exchanges exerting greater power across the industry.
A market solution
These days, it is now possible to combat some of these issues. New technology has emerged that makes it easier to launch and manage a successful cryptocurrency exchange. Spotware, for example, offers one such solution with its new full service exchange development platform, cXchange.
With cXchange, Spotware is directly addressing a major issue for many newcomers to the cryptocurrency exchange space. The startup costs of an endeavor of this sort are daunting, even prohibitive in some cases.
Building a platform to trade, monitor, and house potentially billions of dollars’ worth of digital assets is a terrifying proposition. It is an enormous responsibility. Nobody wants to be the next Mt. Gox, or worse, Coincheck.
Spotware provides an out-of-the-box trading solution that cryptocurrency entrepreneurs can use to build their own proprietary cryptocurrency exchange. It is a scalable, powerful, and reliable solution from which to create flexible trading platforms.
Most importantly, Spotware’s cXchange is created by a proven team of product developers using cutting edge technology. This ensures security, ongoing value, and lasting product viability.
The Spotware team has designed a simple and elegant product, the kind that is easy to set up, and a breeze to maintain. This was not done at the cost of adaptability or scalability. The exchange platform is ready to meet a variety of investor and transactional demands.
The right choice
Imagine a scenario where a risky and heavily regulated ICO wasn’t necessary in the quest to build a new leading cryptocurrency exchange. Sounds appealing, doesn’t it?
In the aftermath of 2018, there is an understandable reluctance to engage in risky business practices in and around any blockchain venture. The emergence of robust and trustworthy out of the box solutions like Spotware’s cXchange turns a concept like that into a bright new reality.
Source: Crypto Daily

New Debit Card Launching From Litecoin

Recently, it was announced that the Litecoin foundation will release its own debit card. The upcoming card will give users the chance to spend their cryptocurrency either online or in physical store locations, anywhere across the globe where major credit cards are accepted.
The special edition Litecoin BlockCard is a collaborative effort developed by three crypto firms including Litecoin, Ternio and Bibiox Exchange. The main audience of the card is for shoppers and spenders who wish to use crypto as if it were cash.
The United States user-base will be the first customers with Bibox Exchange acting as a custodian of users’ funds, leveraging its $200+ million worth of crypto trading volume to help route the deposits and spending for users.

“The special edition debit card will first be released to United States residences and soon after for non-US customers. Bibox Exchange and the Litecoin Foundation will integrate the debit card directly into the Bibox Exchange and LoafWallet – the official Litecoin wallet. Users will be able to access their cards directly within these ecosystems, giving  them instant access to spend.”

The mind behind Litecoin, Charlie Lee has said the new card will help push Litecoin into the mainstream for retail, services, entertainment, shopping, travelling and so on/

“Leveraging Ternio’s BlockCard platform with Bibox’s exchange engine gives Litecoin holders unparalleled access to use their LTC at merchants around the world.”

Litecoin has also said that it will get in contact with US-based customers over the next few weeks on how they can register for access of the card.
In terms of price, Litecoin is the fourth biggest cryptocurrency at the time of writing. The coin is worth $137.51 following a 4.43 percent increase over the past 24 hours.
Source: Crypto Daily

Tom Lee: “The Facebook Announcement is Validation that the Mainstream are now Focused on Cryptocurrencies”

The co-founder and head of research of Fundstrat, Tom Lee has recently taken part in a new interview with CNBC Futures Now where he gave his opinion on the new Facebook cryptocurrency, Libra.
Lee believes that this new stablecoin from the social network is proof that cryptocurrency is going mainstream.

“The Facebook announcement is a complete validation that mainstream is now focused on cryptocurrencies and I think it really destroys those arguments that say, ‘I believe in blockchain, not Bitcoin.’”

Lee says that Facebook creating a cryptocurrency is good news for Bitcoin in the long-term.

“This is clearly a cryptocurrency play. But the salvo, or the real focus, is decentralized finance. And I think it is more targeted at stablecoins and creating a new kind of banking system, and it’s very complimentary to Bitcoin. I think this is actually a really bullish development for Bitcoin. I think it’s really bad for stablecoins and anyone who’s been trying to do decentralized finance.
One thing to keep in mind – Facebook’s annual revenue per user is probably $50. That might be a little high. But an average bank generates close to $1,000 per user. So, Facebook has a 20x upside to their customer model if they start doing banking services, and so I can see why banks aren’t really enthusiastic about this.”

When it comes to the price of Bitcoin, the co-founder says that the leading crypto is now in a full-blown bull-market and is well on the road of return to its all-time high of $20,000.

“I think Bitcoin ultimately becomes a reserve currency in crypto. Bitcoin at $9,000 has only been at this level in 4% of its history. We’re deep into a bull market and people are pretty silent about it. I think Bitcoin is going to easily take out its all-time highs.”

Despite Facebook’s announcement this week, the price of Bitcoin hasn’t moved much. The price is currently sat at $9,139 following a 0.78 percent decrease over the past 24 hours.
Source: Crypto Daily

2019’s Top 5 Cryptocurrency Exchanges For Any Crypto User

If 2018 was the year of the Crypto Winter, the 2019 thawing is surely now sufficient to be classed as a new season. The price of Bitcoin has been on a steady upward trajectory, the number of crypto wallet users is in growth, and even Facebook now wants in on digital currency.
With the markets on the up, it’s the right time to be in the crypto exchange business. After all, whether you’re a newbie or a seasoned enthusiast, a HODLer or a day trader, everyone in cryptocurrency relies on exchanges at some point or another.
Of course, with such a vast choice of exchanges on the market today, which one you choose will depend on your specific needs. Here, we round up the best crypto exchanges for all kinds of users.
Best for Fees – Binance
Binance has become known for a seemingly never-ending series of innovations. They were the first exchange to issue its own token (BNB), the first to become a launchpad for new blockchain startups, and recently the first to launch its own blockchain.
Despite all this, it’s worth remembering that one of the main reasons that Binance rose to prominence in the first place was because of its highly competitive fee structure. Maker and taker fees reduce from 0.1% based on increased trading volume. This fee model makes it an attractive platform for day traders.
BNB holders can get a 25% reduction on trading fees, making the exchange token an attractive investment for regular Binance users.
Best for Number of Coin Pairs – HitBTC
Traders of the more obscure alt coins are often frustrated with the fact that their selected instruments aren’t available on many of the more well-known exchanges. This is where HitBTC comes in.
According to CoinMarketCap, HitBTC is currently listing nearly 800 trading pairs, including many alt coins sitting firmly outside the top 100. A major exchange making an effort to keep this many trading pairs isn’t just good news for altcoin traders. It also helps inject liquidity across the entire cryptocurrency markets.

Best for Newcomers – XCOEX
One of the challenges for newcomers to the crypto space is the high barriers to entry. Although navigating cryptocurrency exchanges is far from impossible, it’s still unnecessarily complicated.
XCOEX aims to overcome all this. The exchange is a new offering, with simplicity and ease of use being the USP. The interface design is intuitive whether you’re using it on a smartphone or desktop. Wallets are free to use and integrated into the software, and all funds are stored offline in cold storage.
For June only, XCOEX is offering a promotion aimed at onboarding more new users. Each day, the exchange will give away $1,000 worth of Bitcoin Cash to one eligible user selected at random. To be in with a chance, visit the promotion page, sign up for an account and deposit $20. Once you’ve joined the Telegram group and followed the Twitter account, you could be among those selected for the daily bounty!
Best for Seasoned Traders – Bittrex
Like HitBTC, Bittrex also offers access to a wide range of trading pairs — around 350 at the time of writing. However, it’s the transaction speed that really sets it apart. Seasoned day traders know that seconds can make all the difference when entering or exiting a position.
Bittrex has a super-fast order matching engine that means nobody is ever left waiting. Speed, combined with the high number of trading pairs, means that Bittrex is a highly liquid exchange. Also reassuring for its users is the fact that Bittrex has so far never been hacked.
Best for Futures Trading – BitMEX
If short-trading is your thing, then futures trading is for you, and the undisputed king of Bitcoin futures trading is BitMEX. It does one thing, and it does it well. On BitMEX, traders can access a range of crypto futures contracts, including Cardano, EOS, and XRP.
BitMEX’s margin trading offering stands out for a few reasons. Firstly, it allows higher leverage (up to 100x) with a lower margin and smaller minimum contract value. BitMEX also takes the index price of the asset being traded, not the last traded price, which helps to prevent manipulation of the order book.
At this stage in 2019, if you disagree with any of the five choices listed here, you can take your pick from around 250 other options. Choosing an exchange is a personal decision based on a variety of factors. As with everything in cryptocurrency, the best advice is to always do your own research.
Source: Crypto Daily

Roubini (Dr Doom): Libra is a “Ridiculous Chutzpah”

The well-known Bitcoin bear, Nouriel Roubini – AKA Dr Doom – has once again taken to Twitter to make a few digs at a cryptocurrency. Instead of Bitcoin, Roubini is targeting Facebook’s upcoming stablecoin this time. Libra was only announced yesterday but according to the economics professor, Libra is “blockchain in name only”.
Facebook Profit Mule
In addition, Roubini argues that Facebook’s cryptocurrency was only designed to grow the social network’s profits. Dr Doom even goes onto claim that the stablecoin is just a ‘monopoly scam’

It will start as a private, permissioned, not-trustless, centralized oligopolistic members-only club. So much for calling it “blockchain”. Like all “enterprise DLT” it is blockchain in name only and an monopoly to extract massive seignorage from billions of users. A monopoly scam
— Nouriel Roubini (@Nouriel) June 17, 2019
World Domination
The 60-year-old also warned of Facebook’s ‘ridiculous chutzpah’ designs. According to him, Facebook intends to use Libra to become the central bank of the world.

In a separate tweet, Roubini said:

“At a time when Big Tech is coming under sharp legislative scrutiny coz of serious anti-trust concerns and all govs, even the US, want to crack down on these monopolies Facebook wants to become the monopolistic Global Fed without even a bank license. What a ridiculous chutzpah!”

Before he claimed that Libra was a monopoly scam, the economist began his rant against the stablecoin by warning of its risks. This is by virtue of the fact that Libra will be linked to a basket of currencies, Dr Doom warned that there will be some risks for users based in nations that have relatively stable currencies.
He goes onto say that users shouldn’t expect to earn any interest on their balances.

“Facebook Coin will make a fortune for FB & its investors by earning interest on “float”, ie users’ balances (as funds invested in safe interest-bearing gov bills) while pay 0% on such users’ balances. Rip-off! I rather keep my money in $ fiat & earn 2.5% on safe overnight rates!”

Source: Crypto Daily

Ripple’s New Partnership Will Help Expand xRapid Says CEO

The CEO of Ripple, Brad Garlinghouse says that the company’s new partnership with money transfer behemoth MoneyGram is its next step in bringing around the adoption of cryptocurrency and blockchain. In return, MoneyGram will be utilising Ripple’s xRapid system in order to settle cross-border payments via XRP. This is all posted in a press release published yesterday (June 17th).
Speaking to Bloomberg, Garlinghouse said the partnership would assist Ripple in transforming the cross-border payments sector. He stated:

“The deal is a big step for Ripple, but I think it’s even a bigger step for the overall industry. There’s been a lot of excitement around what blockchain and digital assets and crypto can mean for the industry and I think it’s the reason why players Facebook are diving in also. But we haven’t yet seen much beyond experimentation.
And at Ripple, I think we are the market leader because we have matured aggressively and we’re really solving real problems for real customers. MoneyGram is just the manifestation of that. And as the second largest global remittance company, we’re able to have a big impact with one customer and one partner in this.”

The firm is growing at a rapid (pardon the pun) rate and is focused on growing the xRapid platform and expanding the number of payment routes available on the platform.

“…with this new product around liquidity, we’re now enabling liquidity into the Mexican peso and the Philippine peso. We certainly expect to be much broader than that, but we’ve only been live with this product for about six or seven months. So we feel like we’ve made tremendous progress in a short amount of time. We’re going to continue to invest with the customers we have today as well as expand the number of corridors we have globally.”

Speaking on Facebook’s entrance into crypto, the CEO said:

“I think it’s an incredibly positive signal for the overall blockchain and crypto market to have a player like Facebook leaning in. I think there’s been obviously a lot of skepticism in the origins of crypto, coming from kind of an anti-government and anti-bank point of view. [But] to see major industry players lean in and participate I think is really positive for the overall market.”

He continues:

“Facebook is obviously a consumer-oriented company. Instagram, WhatsApp. What Ripple is doing is really enterprise infrastructure and interconnecting various payment networks around the world. So we’re working with some of the biggest banks around the world, small payment providers and really providing that interoperability between the different networks as opposed to solving within a network kind of problem. So it’s really very different than what I expect they’re going to be doing.”

Source: Crypto Daily

Why NEO has been the best performing coin of 2019

NEO – the ‘Chinese Ethereum’ – is a cryptocurrency which supports the development of smart contracts and digital assets. It seems like an aspirational coin, with it having many projects lined up for the near future.
GAS, the underlying crypto coin which facilitates NEO transactions, is NEO’s native token and it has created the foundations for NEO to become one of the best performing digital currencies of 2019. Since the start of the year, NEO has risen from around $7.50 and a market cap of around $490 Million, to now trading at approximately the $13 mark and an $940 Million market cap.
When you hold NEO in particular wallets, you get GAS in return. This is due to NEO deploying a Proof of Stake blockchain, meaning that it is one of the crypto coins which gives you the ability to earn currency while doing nothing. With this feature, holding NEO almost guarantees you a return of 4-6% per year and you can work out your potential returns using their staking calculator.

Neon is the recommended wallet for holding the cryptocurrency, as is allows you to automatically get your GAS rewards. Other wallets are able to do this, however you will need to hold your private keys individually.

KuCoin and Binance are also capable of giving GAS rewards regularly, however, earning and holding these rewards through an exchange can be a bad idea because of security reasons.
GAS can be claimed at anytime you require it, unless you are using one of the exchanges as they send out the rewards each month.
The ability to earn GAS while holding NEO is one of the main factors why it has become one of the best performing coins of 2019. Will NEO continue its impressive growth rate? Only time will tell.
Source: Crypto Daily

XLM, ADA, BTT: Why You Should Keep An Eye on these Currencies

This year is turning out to be an interesting one for the crypto market. Even though we’re just halfway through the year, we can already sense that 2019 will end in a positive note.
But there’s always some coins to bet on. So today, we’re going to look at a few altcoins that are looking like they are about to do something exciting in the second half of the year.
Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!
In recent months, Stellar has been keeping itself relatively under the radar. That being said, it has made a good recovery from the start of the year with the team working with their partners, exciting things are around the corner for XLM.
More and more users are getting involved with the Stellar platform which is seeing XLM make decent gains. The cryptocurrency could hit an all-time high later in the year so it’s worth keeping an eye on XLM.
A former Ethereum developer founded this project, Charles Hoskinson who has the goal to provide a smart contract platform that wants to be a better option to Ethereum. Specifically when looking at how it permits communication amongst different blockchains, known to be extremely secure and very much scalable.

As reported by ZyCrypto:

“In any case, compared to previous years, 2019 has promised to be good for the cryptocurrency, and with upcoming developments, ADA will show up big for the rest of the year.”

BitTorrent (BTT) is one of the coins that hasn’t garnered that much attention this year ot be honest. Yet it’s a great prospect for the latter half of the year.
So yes, it’s worth keeping an eye on BTT, especially if you’re new to the market. BTT in just a couple of days has been able to rise over 38 percent and has the momentum to carry on a bullish rally for the rest of the year.
Source: Crypto Daily

Alex Jones: Is Bitcoin a Ponzi Scheme?

Over the past year or so, Alex Jones has become apart of the Bitcoin community. This is mainly down to the several revelations made on his flagship show Infowars.
Jones has given his views on a few theories that can be often seen as controversial and at times, are contradictory.
Ponzi Scheme
In a discussion with the stockbroker and CEO of Euro Pacific Capital Inc Peter Schiff, Jones said that Bitcoin was little more than a Ponzi scheme. This was following the year-long decline in Bitcoin’s price throughout 2018.
Speaking to Schiff, Jones said that he turned down money to advertise cryptocurrency because he had sensed its impending collapse:

“That means they’re about to dump it… They’re pulling their money out of the Ponzi scheme, and they wanna bring in all the new suckers with the big advertising push to prop it up. So it collapses months later, and they don’t get the blame for pulling their money out – which is the crime – when they know it’s going down. It’s called a pump and dump.”

Once again, reading between the lines, there’s still a chance that representatives from cryptocurrency projects did pitch Jones some advertising deals. Especially in the run up to Bitcoin’s peak price point, when the ICO money was just about to blow up.
In the end, his Ponzi/pyramid scheme comments seem to become less viable by the day. Not because cryptocurrency is a safe bet but because it’s becoming useable in ways that Charles Ponzi’s tokenised shares never were.
The end of Alex Jones
In the months running up to December 2017’s all-time high, the pressure on Jones to plug the cryptocurrency was getting more intense. Jones told Schiff:

“I could have made in the last six, seven years: $300 million, literally, going with all the Bitcoin people and everything else. I know what people got paid; [They] offered me a million a month – real companies… And I never endorsed it because at the end of the day I thought it was going to be like the tulip bubble.”

But Jones said that this was part of a plan to ruin his reputation. He suggests that the plan was to first associate his name with Bitcoin and then dump both of them. According to greg Thompson for CCN, he says that he was:

“…getting offered by five or six companies a day now; millions of dollars a month to advertise this. I go: ‘I think they’re just trying to set me up so when it goes down my name’s on it’. So I’m glad I didn’t.”

Source: Crypto Daily