XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations

Ripple is working hard on spreading its products worldwide with a strong number game as the XRP, xRapid, RippleNet, and xCurrent gradually gains more customers, real-world usage, and support from the community.
XRP’s Strong Number Game
Recently Ripple’s client Mercury Fx took to Twitter to share how it made one of its largest payment on RippleNet by using XRP while saving money in the process. This showed the real-world usage and effect of XRP.
Ripple is already working hard and fast in pushing to make its various products part of real-world banking operations. Previously, it has been claimed in 2018 that Ripple already has 100 clients in its bag and earlier in January, this year itself, Ripple shared further insight declaring RipleNet has surpassed 200 customers all over the globe.
The latest additions in this network have been Euro Exim Bank, SendFriend, JNFX, FTCS, Ahli Bank of Kuwait, Transpaygo, BFC Bahrain, ConnectPay, GMT, WorldCom Finance, Olympia Trust Company, Pontual/USEND, and Rendimento.
Ripple’s clients have all the praises for its different products that allow them to settle transactions fast and in a cost-effective manner as David Lighton, the Founder of SendFriend, which was founded at MIT, said,
“Through our partnership, we are bringing our customers a next-generation, blockchain payment solution that leverages XRP to address many of the efficiency and equity problems with existing remittances.”
XRP fever is certainly spreading as platforms like r3, XRP Tip Bot, Arrington Capital, Omni, Nexo, Coil, XRParrot, and Travala among many others are utilizing this digital asset as a form of payment.
The plan is rather simple here to provide a better cross-border payment solution in terms of speed, cost, and transparency that the current established banking system lacks.
Just recently, Ripple sales director Ross D’Arcy said they want to make sending payments as easy as sending an email,
“3 clicks, 30 seconds, receive a confirmation that the end beneficiary has been paid. So as easy as we can do a voice chat or exchange emails, that’s exactly how we want the payment experience to be.”
D’Arcy further shared how this technology is a better solution than Swift,
“Ripple could shut down as a business tomorrow, and our customers could still transact using our software. The same wouldn’t be the case with Swift.”
If we talk about the number a bit more, according to the XRP community blog, XRP has about 1.5 million active wallets, more than 230 exchanges where the 2nd largest cryptocurrency has been listed and a strong community which is made up of over 1 million people.
“XRP has one of the largest and most coordinated group of developers of all cryptocurrencies in Ripple Labs,” said Ben Ritchie of Digital Capital Management while predicting XRP price at $0.75 by December 31, 2019.
On the front price, XRP is currently down about 90 percent from its all-time high. At the time of writing, it has been trading at $0.330 with 24-hours gains of 0.31 percent.
The post XRP in Action Mode: Growing Numbers Fueling the Growth in Real-World Operations appeared first on Coingape.
Source: CoinGape

Mercury FX Makes Its Largest Payment Across RippleNet

CoinSpeaker

Mercury FX Makes Its Largest Payment Across RippleNet

Ripple is breaking all sorts of traditional financial trends. In recent news, Mercury FX has made their most substantial payment from the UK to Mexico using XRP. The amount was valued at £3,521.67 which in US dollar terms is equal to around $4552.

Mercury FX Makes Its Largest Payment Across RippleNet

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Source: CoinSpeaker

Euro Exim Becomes the First Official Bank to Fully Integrate Ripple’s xRapid

CoinSpeaker

Euro Exim Becomes the First Official Bank to Fully Integrate Ripple’s xRapid

London-based Euro Exim Bank will become the first financial institution to fully integrate the XRP-powered xRapid in the first quarter of this year.

Euro Exim Becomes the First Official Bank to Fully Integrate Ripple’s xRapid

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Source: CoinSpeaker

Ripple Partners with National Bank of Kuwait Closing Out the Year

CoinSpeaker

Ripple Partners with National Bank of Kuwait Closing Out the Year

National Bank of Kuwait has joined Ripple’s blockchain-based payments network seeking faster cross-border money transfers. The bank announced the launched of the new remittance service, that enables “immediate” payments using Ripple tech.

Ripple Partners with National Bank of Kuwait Closing Out the Year

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Source: CoinSpeaker

Ripple Targets Middle East Financial Institutions, Adds New Partners on Ripple Net

Ripple has successfully partnered with institutions around the world and its recent focus seems to be on Middle Eastern Institutions. As per reports Ripple has partnered with institutions in various countries in the Gulf region to its Ripple Net network.
Ripple finds partners in Kuwait after Dubai and Bahrain
Ripple has been strategically capturing the Middle Eastern Market country after country and has grabbed some big partners. The recent addition to this list is National Bank of Kuwait which announced that it would be using RippleNet for its Direct Remit facility.


This service allows users to digitally and securely transfer to beneficiaries 24/7, for just KD 1 per transaction. The service is currently available only for transferring money to Jordan and the bank plans to soon and add services to more countries.
National Bank of Kuwait is not the only partner of Ripple in the Middle Eastern Region.  There has been clear interest in Ripple’s technology shown by the financial institutions in the region, as Saudi Arabia’s largest Islamic bank Al-Rajhi and Kuwait Finance House are already members of RippleNet.
Why Ripple is focussing on Middle Eastern Regions?
Ripple’s global head of infrastructure innovation Dilip Rao was quoted speaking at a conference in Dubai where he briefed about hows Ripple’s technology could greatly help in the Middle Eastern region which is currently full of migrant workers that often transfer smaller amounts of money over the order. He was quoted saying,
“If you want to send this money, particularly you’re not clear about what the fees are going to be that the bank is going to charge on the other end. And therefore, what you’ll receive might be substantially less than what you sent out. And if you’re sending money for blue collar workers, this often can be a small amount of money, $200, and the fees for these kinds of small payments can be as high as 5 to 10%. So, this is actually hurting the people who can afford it the least.”
With regards to interest in the Middle East, Rao mentioned,
“We have to date signed up close to 200 financial institutions around the world, many of them from this part of the world… We now have three banks in Saudi Arabia, two in Kuwait, one in Bahrain, one in Oman, a couple in the UAE here. And it really is our fastest growing marketplace.”
Ripple seems to be overhauling the Middle East and the speed at which Ripple is moving it looks like in no time the whole of Middle East would be on Ripple’s network.
Will Ripple be able to grow at this pace in 2019 as well? Do let us know your views on the same.
The post Ripple Targets Middle East Financial Institutions, Adds New Partners on Ripple Net appeared first on Coingape.
Source: CoinGape

XRP Seems to Be the Top Candidate For the Bull Run in 2019, and Here’s Why

CoinSpeaker

XRP Seems to Be the Top Candidate For the Bull Run in 2019, and Here’s Why

XRP has been pretty much asleep for a very long time and as we are approaching the end of 2018, the much-needed news about Ripple’s partnerships with major financial institutions have started erupting in the crypto-space.

XRP Seems to Be the Top Candidate For the Bull Run in 2019, and Here’s Why

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Source: CoinSpeaker

RippleNet Further Continues Its Win Streak Partnering with CIMB Banking Group

CoinSpeaker

RippleNet Further Continues Its Win Streak Partnering with CIMB Banking Group

The RippleNet frenzy continues to win over the regions of Asia, as starting from now, the company streamlines cross-border payments of Malaysian banking group CIMB.

RippleNet Further Continues Its Win Streak Partnering with CIMB Banking Group

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Source: CoinSpeaker

Ripple Secures More Banking Partners, XRP Holds Second Spot Over Ethereum

San Francisco based blockchain company Ripple has secured another major banking partner in Asia this week. ASEAN’s fifth largest bank, CIMB Group, as announced that it will join RippleNet in order to utilize the firm’s cross border transfer products. Its XRP token meanwhile has held on to second spot over Ethereum.
RippleNet Expands it Reach
The move will allow the bank to grow its global payments network by joining those already in the Ripple network. According to the announcement CIMB is one of the first banks in Asia to leverage blockchain technology. In a region where micro-payments and remittances drive the bulk of banking transactions the need for more efficiency and cost reduction has never been greater.
According to the World Bank, remittances in the region will grow to $120 billion this year. The Boston Consulting Group added that the global cross border payment volume is an estimated $27 trillion with a further $20 trillion expected to be added in the coming decade. The ASEAN region is responsible for almost 40% of this entire volume.
CIMB already has its own remittance platform called SpeedSend so the partnership with Ripple is designed to enhance that and further improve the speed and costs of cross border payments. CIMB Group chief executive, Tengku Dato’ Sri Zafrul Aziz said;
“We are delighted to be part of RippleNet and look forward to a fruitful partnership with Ripple by leveraging each other’s strengths and capabilities. This innovative blockchain solution will revolutionize international cross-border remittances, and is a testament to CIMB’s ongoing efforts to enhance its digital banking proposition …”
Ripple boss, Brad Garlinghouse, commented “CIMB’s network already spans 15 countries, nearly 800 branches and offers Speedsend — one of the best solutions in the ASEAN region. Now, by integrating Ripple’s blockchain technology, they will enable their customers to send vital funds to family, friends and loved ones more efficiently.”
XRP Holds Second Spot, Accelerates Away From Ethereum
Ripple always maintains that the company and token are not connected but what happens to one will obviously have an effect on the performance of the other so this sentiment can be refuted. Besides, the company still holds a very large slice of the XRP pie. In the aftermath of crypto market’s largest crash of the year, XRP emerged above Ethereum, taking second place in the market cap charts.
When this has happened previously, Ethereum recovers quickly and retakes its spot. This time, however, that recovery has not occurred and XRP has made better gains keeping it above ETH. At the time of writing XRP is up almost 5% on the day whereas Ethereum has only made just over 1%. As a result XRP’s market capitalization has increased to $19.3 billion whereas Ethereum’s is now $18.6, widening the gap since yesterday when they were only $200k apart.
If there is no further momentum for Ethereum it may have to settle for being the world’s third largest cryptocurrency as XRP moves ahead of it.
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XRP Price & Technical Analysis: XRP Again under Bearish Pressure

CoinSpeaker

XRP Price & Technical Analysis: XRP Again under Bearish Pressure

XRP is still slightly moving down on Thursday Nov 8, trading at $0.5169, says Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

XRP Price & Technical Analysis: XRP Again under Bearish Pressure

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Source: CoinSpeaker

Ripple adds another customer as investor sentiment for XRP rides high

Amore Finance, a startup providing banking solutions for businesses and individuals startup based in Prague, Czech Republic, has partnered with Ripple to join its ever-growing network of banks known as RippleNet, according to a local news portal. In addition to this announcement, it has been reported that the finance startup joined RippleNet in cooperation with Cleverlance, a technology firm in the Czech Republic.
RippleNet was launched by Ripple, with the aim to solve existing problems of cross-border payments, such as real-time payments solutions and low transaction fees. It is a network of banks, financial institutions and financial software providers, mobile wallets and many more, using Ripple’s solutions and enables participants to transact through a single agreement around the globe.
Amore Finance is the first financial startup from the Czech Republic to join the network, and providing its customers access to fast and cheap transactions with absolutely no error rates. This was achieved mainly because of Cleverlance guiding the startup throughout its onboarding process.
The other notable members of RippleNet are MUFG, the 5th biggest bank by assets in Japan, Santander, Bank of America, Mizuho Financial Group, MoneyGram and Western Union.
Cookie Monster, a Twitterati said:
“My head is spinning from all these banks Bank!”
Dimmy, another Twitterati said:
“It goes on and on. Ripple”
Recently, Ripple released their Q3 report which revealed that they sold over $163 million in XRP and that the institutional direct sales saw an increase of approximately 500% to $98.06 million in comparison to Q2’s $16.87 million. The company marked this milestone despite the high volatility of the market.
The report stated:
“XRP II, LLC — a Ripple subsidiary that is a registered and licensed money service business (MSB) — sold $98.06 million worth of XRP in institutional direct sales”
In addition, the programmatic sales also saw a significant increase over the past three months, an $8.61 million increase to Q2’s $56.66 million. The company also released 3 billion XRP from their escrow accounts out of the 55 billion which was locked up and secured cryptographically. Out of the 3 billion XRP, 2.6 billion XRP were being utilized and the rest are set to be used in order to support the XRP ecosystem.
The post Ripple adds another customer as investor sentiment for XRP rides high appeared first on AMBCrypto.
Source: AMB Crypto

XRP News Update: 5 More Additions to further Expand the Global Ripple Network

XRP adoption is rising while the global Ripple network is expanding as crypto and fiat exchange Liquid announced support for XRP, Omni announced XRP cash out, mobile wallet app Paycent integrates XRP, Bill Gates Foundation partners with Ripple and Coil for Interledger Protocol, and UK-based Moneynetint joins RippleNet.
XRP on another exchange
Currently trading above the crucial $0.45 at $0.4645, the world’s 3rd largest cryptocurrency is continuously adding names to grow and expand its network.
Liquid, crypto and fiat currency exchange will add support for XRP that means the cryptocurrency can be used for margin trading and lending on the platform. With 25x leverage, the XRP/JPY, XRP/USD, XRP/SGD and XRP/EUR trading pairs will be up for margin trading.

Later this week we will enable $XRP for margin trading and lending on https://t.co/OR9DJySfgW.
XRP/JPY, XRP/USD, XRP/SGD and XRP/EUR will all be available to margin traders, who can make use of our 25x leverage, while lenders can earn daily interest on their holdings.#BeLiquid pic.twitter.com/yk6YzxvVWJ
— Liquid (@QuoineGlobal) October 17, 2018

Bill Gates foundation onto Ripple and Coil
In another instance, Miller Abel Deputy Director, Principal Technologist at Bill & Melinda Gates Foundation, announced on Twitter:

We are partnering w/ @ripple and @coil to implement the #Interledger Protocol & explore ways #Mojaloop can support pro-poor payment systems. #githubuniverse
— Miller Abel (@MillerAbel_) October 17, 2018

With this, Bill Gates Foundation has expanded its partnership with Ripple in order to reach the countries with poor payment infrastructure.
Ripple and XRP enthusiasts are pumped up with this announcement as one enthusiast shared while clarifying about Ripple and  Bill Gates Foundation already being in a partnership, “They were, but we have confirmation of XRP being used via Coil for payments! Relationship -> Adoption -> Moon.”
Well, some did question out the legitimacy of the account as one stated,
“Joined October 2018, I hope you are the real Miller”, while another one shared, “Let’s all take a step back, and ask if this is a real announcement by a legitimate account. A lot of things don’t add up. I’m calling shenanigans.”
Moneynetint joins RippleNet
Marcus Treacher, global head of strategic accounts at Ripple shared another addition to the growing Ripple Network:

Proud to welcome MoneyNetInt to our growing family of Ripple-enabled payment institutions. The global Ripple network grows & grows. #internetofvalue https://t.co/qEvZxJdXS4
— Marcus Treacher (@marcus_treacher) October 17, 2018

Moneynetint, a UK-based money transfers and currency exchange for corporate clients also shared:
“As of today, we are proud to announce that @MoneyNetInt has joined #RippleNet! Joining @Ripple and their Global Payment Network will allow us to process customers’ #payments anywhere in the world #instantly, #reliably, & cost-effectively!”
Omni allows XRP cash out & Paycent integrates XRP
Meanwhile, Omni the sharing-economy platform is adding support for XRP which back in January closed over $25MM in new capital from the Ripple team among other firms.
Thomas McLeod, founder of Omni announced,
“I’m very excited to announce that we have integrated XRP into our product so Omni members now have the option to cash out their rental earnings to an XRP wallet. This is especially exciting because this is the first time that consumers can get XRP outside of an exchange.”
The idea is when someone rent from you, you will earn money that can be cashed out to XRP or USD. By enabling XRP cash outs, the team is aiming to “lower the barrier to entry for crypto-curious consumers and also reduce the risk because you still own the asset.”
Additionally, recently, Singapore-based mobile wallet app, Paycent that allows users to store both cryptos and fiat for cashless transactions announced integration with XRP. The feature will be available for users by the first week of November 2018.
The post XRP News Update: 5 More Additions to further Expand the Global Ripple Network appeared first on Coingape.
Source: CoinGape

XRP Down by 25% this Month, Brazilian Crypto Platform with +1M Customers add Support

While XRP has lost about 25 percent of its value this month, its liquidity is rising as Brazilian digital asset company with over 1 million customers adds XRP to its limited list of cryptos. With XRP trading below $0.50 level, it can extend its losses but Sibos event just might bring a change of momentum.
Mercado Bitcoin adds XRP to its over 1 million customer market
XRP liquidity keeps on rising as exchanges from all over the globe are adding the world’s 3rd largest cryptocurrency. The latest one is Mercado Bitcoin that caters to Brazil and Latin American market. As per the rough translation, the digital asset company announced on Twitter,
“Already have XRP? Transfer now to the Bitcoin Market and participate in the opening of the market. You will soon be able to trade on our platform.”

Já tem XRP? Transfira agora para o Mercado Bitcoin e participe da abertura do mercado. Em breve você poderá negociar em nossa plataforma.
Saiba mais:https://t.co/rmUQF7QxLY pic.twitter.com/V6KUShqSGd
— Mercado Bitcoin (@MercadoBitcoin) October 9, 2018

In order to buy the cryptocurrencies, the process requires you to first create an account. It requires you to have a balance in Reais for which you have to got to deposit page to get credit in your account. The website mentions zero rate for deposit. Then, select the digital asset and buy the cryptocurrency.
The crypto exchange has only a limited number of cryptocurrencies listed on its platform viz. Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), and now XRP.
With over 1 million customers, this is another progressive step for XRP that adds to its liquidity and further to its global presence.
Also, read: Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?  
XRP trading below the critical $0.50 level
At the time of writing, XRP has been trading at $0.4727 while being down by close to 2 percent in the past 24-hours. Today’s trading range has been between $0.4623 and $0.4818. With a market cap of $18.7 billion, it has been managing the daily trading volume of $441 million.
XRP 1-day price chart, Source: TradingView
Just last month, XRP price took a surgeon the anticipation of the launch of xRapid reaching about $0.70. Since this month has started, the digital asset has been on a downward spiral. From $0.6306 on September 30 to today’s $0.4727, it has lost 25 percent of its value.
XRP 1-month price chart, Source: TradingView
Now the question that arises is if XRP will wipe out all the September gains? The XRP/USD pair is at a risk of losing more of its value as it is below $0.50 mark. However, Swift’s upcoming Sibos 2018 event could be a silver lining for XRP where Ripple is exhibiting RippleNet and enthusiasts and investors alike are expecting Ripple to make some big announcement.
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Source: CoinGape

Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?  

Ripple is going to be at yet another event but this time it’s the flagship event of its competitor Swift’s Sibos event, one of the biggest global event in the world of fintech. Ripple and XRP enthusiast and investors are anticipating for a bigger announcement and a surge in XRP price.
Ripple to be at one of the biggest global events of fintech world
After gatecrashing Swift’s flagship event Sibos in 2016, this time Ripple is all set to officially take the stage as the website of the event has Ripple listed as one of the exhibitioners.
After Swell on October 1 and 2, Ripple is getting ready to make some headlines with yet another event. This time Ripple will be sharing the stage metaphorically with its biggest competitor Swift.
Last time this event happened, as pointed by a Redditor,
“SWIFT uninvited Ripple last year, and that’s how Ripple ended up putting on SWELL at the same time and place. SWIFT seems to have learned from their mistake, thus Ripple has a vendor slot.”
One of the biggest global events in the world of fintech, this year it is covering how data, AI, and robotics are driving service innovation and business model renewal, new paradigms and technologies for information sharing to tackle financial crime, tackling the widening cybersecurity challenge in the digital economy, and adapting to evolving geopolitical and regulatory priorities.
Currently, SWIFT is a dominant system for international money transfers and payments. However, Ripple is in direct competition with Swift as it provides solutions for faster and cheaper cross-border settlements. Moreover, it has been making deals with banks and financial institutions, having over 100 of them already in its bag.
RippleNet in limelight, XRP to $1?
The official announcement of the Swift’s Sibos, reads,
“Ripple provides one frictionless experience to send money globally using the power of blockchain. By joining Ripple’s growing, global network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. With offices in San Francisco, New York, London, Sydney, India, Singapore and Luxembourg, Ripple has more than 100 customers around the world.”
Ripple will be showing its RippleNet product that “offers one experience to send money globally, using blockchain technology,” this time at Sibos 2018 “Enabling the Digital Economy” event at Sydney, Australia.
Also, read: Ripple CEO Talks about Ushering in a New Era of Globalization
At the Swell event, Ripple announced the launch of its xRapid product and it is being expected by the enthusiasts and investor that this event will see even a bigger announcement. And that it would take XRP prices to $1.

At the time of writing, the world’s third-largest cryptocurrency has been trading at $0.4808 while being slightly in the red.
The post Ripple to Exhibit RippleNet at Swift’s Sibos 2018 Event, Is another XRP Jump Coming?   appeared first on Coingape.
Source: CoinGape

Ripple Swell Day One Roundup: xRapid Launch and RippleNet Use Cases

The first day of the Ripple’s two-day blockchain conference saw some significant updates.
As predicted, the San Francisco event turned out to be the launchpad of Ripple’s cross-border payment system, xRapid. CEO Brad Garlinghouse took the stage to announce that xRapid will go live for the first time with three mainstream financial institutions.  Payment providers Mercury FX and Cuallix, as well as financial firm Catalyst Corporate Federal Credit Union will deploy xRapid for commercial use, thereby becoming one of the first companies to use XRP tokens to settle international transactions.
Speculators have been bullish on xRapid ever since Ripple announced it. It is believed that bank adoptions will increase the demand for XRP tokens. It would thus appreciate their value against the US Dollar. Just last month, XRP had swelled by more than 100 percent in just a week owing to the xRapid announcement.
A Former US President’s Take on Cryptos
Former US President Bill Clinton had also attended Swell as a key speaker, and he left some noteworthy remarks on blockchain as a whole. Onstage, Clinton joined Gene Sperling, a former White House advisor and Ripple’s board of director, to discuss the need for friendly regulations. The ex-politician compared the emergence of blockchain with that of e-commerce in the late 90s, saying that it would ultimately lead to “disparity of access.”
“The more you develop new technologies like blockchain … AI technologies, robotic technologies … the more the disparity of access is going to be felt.”
Clinton also acknowledged that blockchain assets can be abused in the hands of criminals and terrorists and called for intelligent efforts to identify the downsides without “killing the goose that [lays] the golden egg.” “This whole blockchain deal has the potential it does only because it is applicable across national borders, income groups,” he told Sperling.
Banco Santander’s Experiment with RippleNet
Ed Metzger, the head of innovation of Banco Santander, presented the outcome of their RippleNet-powered cross-border payment app, One Pay FX.
“We believe that financial services are moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that’s at the core of what we’re doing with One Pay FX,”
Metzger stated, confirming that blockchain drastically improved the way they were handling cross-border payments.

.@bancosantander’s Ed Metzger speaking on stage about One Pay FX at #SwellbyRipple pic.twitter.com/Cp0cYWXtf6
— Ripple (@Ripple) October 1, 2018

“One of our customers was in Italy on holiday and parked in the wrong place,” he shared. “He needed to pay a fine and didn’t have his banking card. He was able to use the app to pay the fine immediately, and stop his car from being towed away.” It only took that customer four-five clicks to conduct an international money transfer, Metzger added.
 
Image from Shutterstock
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Source: New feedNewsBTC.com

Ripple CEO Puts the XRP Decentralization & Security Issue to Rest, for Once & All

XRP again had its advocates clearing the FUD around the coin. This time it was Brad Garlinghousethe CEO and Michael Arrington, Founder of Arrington XRP Capital, doing the job as the appeared on Tech Crunch’s Disrupt SF 2018. Not just this, XRP also was also presented with a great news as SAP begins testing  XRP ledger.
From Ripple, XRP, decentralization to Banking Garlinghouse  and Arrington clear the air
As Brad Garlinghouse began discussing Ripple and blockchain he began by saying that if one really wants to revolutionize the way payment works it’s not going to happen overnight and in singularity as everyone is not going to give up their existing infrastructure to take up something new. Although being a bitcoin bull,  Garlinghouse said that one single ledger of Bitcoin is insufficient to solve all problems. This is where XRP comes into the picture as it has built technologies over the decentralized ledger. He also adds that the people who blame ripple and call it a devil actually do so is because Ripple went ahead and partnered with banks instead of replacing them.
On being asked about the decentralization, He said that the XRP ledger is completely Decentralised and Ripple cannot control that ledger. He added that Ripple only holds 7% of all public nodes on the ledger whereas in China 3 miners hold 50% of bitcoin nodes making Bitcoin more centralized than XRP. He said there is a FUD in the market that Ripple could block or roll back a transaction which was completely untrue. According to him the FUD of misinformation is creating a lot of Airgaps. TO make his point more clear Garlinghouse even said that if Ripple shuts down tomorrow the XRP ledger would continue to operate because it was independent.
Answering to XRP being a security, Garlinghouse said that a security gives center rights to the holder such as dividends, ownership and voting rights. He added if one buys XRP he doesn’t get any rights with respect to company Ripple. Question those who call XRP a security he said that,
“if XRP is a security, it is the security of what?”
Michael Arrington, whose Fund Arrington XRP Capital is based on XRP’s blockchain, was also present in the discussion also gave out his opinion why he selected XRP’s ledger over other to start his crypto fund. Apart from Arrington and Brad Garlinghouse being friends, Arrington stated that the XRP is right kind of currency for a hedge fund which needs to move a large amount of money all over the world. Not just that, the LLP who invest in Hedge Fund are also based globally and also desire to move their money quickly and cheaply. He gave an example by saying that they want to move USD 50 million and using RippleNet they could do that in 3 seconds and cost incurred was just 30 cents.
Arrington also mentioned the that Ripple had capabilities of replacing the SWIFT and he just prays that happens.
Also, read: XRP Whale Movement: USD 2.3 mn Worth of XRP Change Wallets
SAP begins testing of RippleNet confirms Sarah Austin
Sarah Austin, who is an entrepreneur and product marketing tinkerer at SAP, confirmed on twitter saying that the company is discussing tokenization of assets as something that can benefit the enterprise. She also mentioned that SAP is testing XRP integrations.

We will definitely be discussing tokenization of assets as something that can benefit enterprise, however, crypto as a feature is not something of high priority for the enterprise right now. SAP is testing XRP integrations. #BlockchainChat
— Sarah Austin (@sarahaustin) September 6, 2018

Although the details of how and what SAP is working on were unavailable this announcement definitely is a big positive for XRP. If this integration goes successful, XRP would reach every company and every user that uses the SAP system.
Clearing of FUD and finding a huge use case could be the best news XRP could get in sometime. The coin has been languishing irrespective of market sentiment on the dilemma that whether it is a security or not and this news should at least soothe some nerves.
Will XRP be able to cross the “being called a security” hurdle? Do let us know your views on the same.
The post Ripple CEO Puts the XRP Decentralization & Security Issue to Rest, for Once & All appeared first on Coingape.
Source: CoinGape