XRP/R3: Corda has the potential to scale vastly, says R3’s head of solution engineering Dave Hudson

In a recent podcast called ‘Life in the fast chain’, Todd McDonald, the co-founder of R3, and Dave Hudson, head of solution engineering, R3, spoke about the partnership between Swift and R3, Corda Settler, and how blockchain technology is changing the payments industry.
Hudson spoke about how R3 is trying to connect customers across different corporations and help them transact privately. Hudson added that there were blockchains that broadcasted messages to everybody, and unlike them, Corda Network maintained the privacy of users.
Speaking about the scalability, Hudson added that Corda was “designed to scale and allow messaging to happen in an organic way”. In addition, he said:
“… Over the last year, we’re finding more and more applications where that’s [scalability] a key requirement. We want to be able to build things that scale massively and so the capability of any individual component can improve over time but the capacity of the entire network can be absolutely vast.”
Talking about another feature, Hudson said that they were working on “shrinking” Corda and elucidated the idea by using Linux as an example and how one needed expensive hardware to use the operating system. He added that they were trying to do the same with Corda. Hudson stated:
“The idea of shrinking Corda is really exciting, we’ve made some design choices that will allow us to do that sort of thing. We are not relying on things that will only ever have to be vast in scale.”
R3 is a US FinTech company which deals in blockchain-related technology [Distributed Ledger Technology] and developing and maintaining Corda, a distributed ledger technology platform. R3 has over 250+ partners spread across the world and has added another partner to its list recently, ING bank, which will also make use of Corda’s payment solutions.
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Source: AMB Crypto

XRP/Ripple: R3’s Corda Settler dApp to be tested by InstiMatch Global using XRP

The development and extensive adoption of cryptocurrencies across various institutions is a continuous operation. Ripple’s XRP, which is currently the third largest cryptocurrency in the market is constantly cultivating different partnerships and pushing the virtual asset forward for major trade applications.
InstiMatch Global is a networking firm which is trying to digitize the institutional system of allowing borrowers and lenders to establish trade through their own digital network. The company has now established a partnership with the R3 consortium which includes the testing of the Corda Settler platform for high-speed payments.
InstiMatch will test the Corda Settler platform and its ability to conduct large transactions in XRP as part of a pilot project. The testing for the platform is supposed to settle high volume transactions of over $1 billion with XRP in a tie-up with around 50 banks.
R3, a company based on distributed ledger technology for blockchain solutions has an extended platform product which is Corda. The Corda Settler platform is an open-source decentralized application on the R3 network and it was designed to enable large corporations and companies to move virtual currencies and assist in trade settlements and payments.
R3’s official website states that,
“Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing Banks, Family offices, Corporations, Utilities etc. to exchange liquidity amongst each other. This DApp offers the modern alternative to voice broking and replaces our present, centralized database version.”
InstiMatch has been able to tackle the latest settlement API and it has added the option of high-speed payments, which is crucial for the dedicated and quick execution of intra-day trades, via the Corda Settler dApp.
InstiMatch is hoping to have more than 100 counterparties from various sectors of trading and reach a broader region of involvement in the next 12 months.
This is not the first time Ripple’s XRP and R3’s Corda are headlining together. Previously, a major partnership had developed between both the companies and SBI Holdings, which acted as a medium of comprehension.
The President and Representative Director of SBI Holdings, Yoshitaka Kitao recently pointed out that XRP will become a global currency in the near future. He also mentioned,
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”
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Source: AMB Crypto

XRP price prediction 2019: To the moon or to the depths of the abyss?

XRP seems to be doing well for itself ever since it overtook Ethereum [ETH] to become the second-largest cryptocurrency in the world [by market cap].
Ripple, on the other hand, has also performed splendidly, considering its partnerships with a plethora of banks and FIs around the world. Ripple wants to build an ecosystem on the RippleNet for remittance and cross-border payments, and it plans on doing the same by leveraging the cryptocurrency XRP.
In the long-term, Ripple will emerge as a winner and along with it will rise XRP, considering the developments going on Japan’s SBI Group and SBI Holdings, which are planning to disrupt and reshape the whole of Japan’s payments industry with XRP as a tool to accomplish it.
The road so far:
The year 2017 was the year of the bulls which projected the prices of every cryptocurrency in the ecosystem to plummet to unfathomable heights. XRP attained a price of $3.349 per token and the market cap at this point reached $145 billion on January 04, 2018, right after Bitcoin hit its peak on December 17, 2017.
Most analysts in the market expected Bitcoin and every other cryptocurrency to pump higher. While some people in the XRP community believed that the price will shoot up from here to $10, others were mesmerized by BearableGuy123, Ripple and XRP’s very own jester, who put out riddles, and people interpreted the price of XRP to reach an appalling $589 by the end of 2018.
Most of the people in the community thought that it would be possible due to Ripple’s payment solution xRapid, which leverages XRP as a bridge currency to perform cross-border payments.
Brad Garlinghose, the CEO of Ripple, said in one of his interviews:
“I’ve publicly stated that by the end of this year I have confidence that major banks will use xRapid as a liquidity tool, this calendar year. By the end of next year I would certainly hope we would see in the order of magnitude of dozens.”
This statement of Brad Garlinghouse made people believe in the jester.
Another reason why people expected the price to reach $589 or “$5.89” was due to Ripple’s plan to launch “Cobalt” which, according to the Ripple, would drastically decrease the already fast transaction time.
People in the community speculated that since Cobalt’s mass number is 58.9, the price could inadvertently reach $589 or $58.9 or $5.89 by the end of the year.
As the year 2018 came to an end, some people admitted that it wouldn’t happen, while others still believed that $589 is attainable.
There were some massive improvements and updates that the company Ripple had provided, like the signing up of 200+ banks. More than five banks across the world have started using the xRapid payment solution now. MercuryFX successfully transferred money across the border using xRapid recently.
Apart from the above, R3’s Corda Network was turned on, which will use XRP as a settlement currency. R3 announced that it had crossed more than 280+ partnerships, which included a couple of central banks.
SBI Holdings, a consortium of banks across Japan, announced a partnership with R3 and set-up a joint venture to improve Japan’s payment industry.
What to expect?
The XRP community speculates that the partnership between SBI Holdings, R3, and Ripple puts XRP smack in the middle of  SBI CEO’s [Yoshitaka Kitao] plans to launch XRP across Japan in efforts to reshape and restructure their payment system before the Osaka Expo 2025.
Daily Chart
The chart below shows the year 2018 so far and how the cryptocurrency XRP has performed over the year 2018. A strong downtrend can be seen hanging over the XRP daily price chart that extends from January of 2018 till date.

The one-day chart shows the formation of two distinct falling wedges for XRP as seen in the chart above. Falling wedges are usually trend reversal patterns that indicate a breakout depending on where there are formed.
The first wedge spanned 256 days and the breakout that occurred pushed the prices by 192% i.e., the prices shot up from $0.26 to $0.76. The second wedge has so far ranged for 141 days and a breakout might happen at any moment. There is, however, a possibility of prices moving sideways for a couple more days.
If the breakout happens, it could drastically increase the price of XRP to two possible levels, the first $0.5798, and the other level, a bit higher than before, $0.7971, which is the highest point of the wedge.
Weekly Chart
The longer time-frame for XRP shows a very different scenario as the prices are forming a descending triangle pattern, and as per the definition, it is a bearish signal.

The volume for the weekly chart also shows a declining trend, further substantiating the descending triangle pattern. The prices might dip in the upcoming days as the price might dip a little lower, possibly to the $0.18 to $0.14 range.
This range could be the capitulation range and there is a probability that the bull run might begin after the weak hands get out of the market.
Market Sentiment
The Ripple and XRP community is particularly fond of XRP and are expecting the prices to the moon due to the success of xRapid. As per recent unfoldings, many banks have started using xRapid.
Moreover, SBI Holdings has partnered with Ripple and R3 and is on a plan to disrupt the Japanese payment industry and simultaneously reshape the payments infrastructure. SBI plans to leverage XRP to make it happen and the CEO of SBI, Yoshitaka Kitao has very ambitious plans to make that happen by 2025.
Considering all the above facts, it can be said that the price of XRP could very well disregard the Technical Analysis and shoot up higher, breaking all the resistance points and maybe even crossing the previous highs at $3.65 when xRapid goes into full effect, or when FIs and Corporate players start using Corda.
The post XRP price prediction 2019: To the moon or to the depths of the abyss? appeared first on AMBCrypto.
Source: AMB Crypto

XRP Can Now be Used at 4,500 e-Stores Worldwide as CoinGate Adds New Payment Option


XRP Can Now be Used at 4,500 e-Stores Worldwide as CoinGate Adds New Payment Option

Unlike cryptos added to CoinGate’s listing earlier, XRP is not logged on the blockchain, as CoinGate launched an XRP ledger validator to “further accelerate the decentralization of the $XRP network”. 

XRP Can Now be Used at 4,500 e-Stores Worldwide as CoinGate Adds New Payment Option

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Source: CoinSpeaker

SBI Group’s “strategic” partnership with Ripple and R3 could reshape the payments industry as a whole

SBI Group is a humungous financial services company based in Japan, which has investments in sectors like Information Technology, Biotechnology, life science, mobile/wireless, environment, and energy.
SBI Holdings, Inc., together with its subsidiaries, engages in the online financial service businesses and investment activities in Japan and internationally.
The most important and well-known in the cryptocurrency realm is the joint venture partnerships with the likes or Ripple or R3 and many more.
SBI Holdings has completed a circle of partnerships which might seem random on the surface but has more to it. These partners include Ripple, a U.S. based company that is trying to disrupt the banking and financial sector as a whole through its blockchain-based payment products and solutions, and R3, an enterprise blockchain software company which is involved in research and development of DLT.
SBI + Ripple
Ripple has over 200 partnerships with various banks and financial players which are spread across the world. Ripple is leveraging its proprietary products like xVia, xCurrent, and xRapid to process payments in a more fast, secure and transparent way than the traditional ones.
SBI Group partnered with Ripple and created a joint venture called “SBI Ripple Asia Co., Ltd.” to provide a next-generation payment platform powered by DLT [Distributed Ledger Technology] to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.
Moreover, the JV promotes to create a next-generation settlement platform for international and domestic use which will largely reduce the remittance cost and the time required for the payments to be completed.
One of the important outcome out of this partnership was MoneyTap, which makes use of Ripple’s xCurrent DLT technology to facilitate inter-day banking transfer, which provides a 24-hour/7 payments service to all the customers in Japan.
SBI Group’s CEO, Yoshitaka Kitao has always been very bullish when it comes to XRP and plans to make use of the cryptocurrency to capture Japan’s financial industry. Kitao had stated:
“XRP is faster, cheaper and more scalable than any other digital asset. I strongly believe it will become the global standard in digital currencies.”
Ripple and R3 have settled their legal dispute on September 10, 2018, which provided a path for the joint venture between R3 and SBI.
SBI + R3
R3, an enterprise blockchain software company which leads a consortium of over 250 banks and financial industries, central banks, in research and development of distributed ledger technology partnered with SBI Holdings to create a JV called “SBI R3 Japan Co. Ltd.” on January 28, 2019.
R3 is concerned with the development, maintenance, and marketing of their application “Corda” which is an open source blockchain project which allows the building of interoperable blockchain networks that transact in privacy utilizing their smart contract technology.
The company recently announced that Corda network was live and that XRP will be used as a currency to settle transactions.
SBI Holdings plans to make use of the partnership of Ripple and R3 to extend a solution across all the sectors of the industry which is not only faster but secure and tamper-proof.
Recent reports by SBI Holdings stated:
“R3-Ripple solution: Become a global standard for financial operations such as international money transfers and trade finance”
Strategic Partnerships
SBI plans to make use of these partnerships not just to disrupt the traditional financial systems but also use these across all industries, which include real estate, healthcare, supply chain, Forex industry, global cash management, etc.
Entry of XRP into either one of the above-mentioned markets, especially the “Forex industry” could make a huge difference in how we perceive XRP and the price, as a result, would sky-rocket to unfathomable amounts.
Most importantly, will Ripple lose its grip on the remittance industry to R3? The recent partnership of R3 with SBI puts R3 in a more comfortable position as compared to Ripple. However, this is not the full story, but just a glimpse of what SBI might be planning behind closed doors.
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Source: AMB Crypto

Expert Opinion: Ripple And Swift “indirectly” Partner Through R3

“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro”
Key Highlights:

Ripple and Swift’s Top bosses lock horns at Paris Fintech Forum
Swift CEO announces a brand-new partnership with payments provider R3.
The mix gets interesting as R3 too has joined hands with Ripple

The Future of Payment Mix: Ripple, Swift, and R3
Well, the crypto markets were lit up again thanks to the upward zoom by XRP. In a single hour of trading yesterday, XRP managed to erase an entire week’s worth of losses. The pop of roughly 10% in Ripple’s token seems to have buoyed the entire crypto market and sentiment is once again optimistic… for now.
While the XRP price jump was exciting, the story that led to this jump was even more fascinating. At the Paris Fintech Forum yesterday, what was supposed to be a hot debate between Ripple and SWIFT turned out to be something much more. While sharing the stage with Ripple Labs CEO Brad Garlinghouse, the CEO of SWIFT Gottfried Leibbrandt announced a brand new partnership with payments provider R3.
It’s kind of a triangle now as R3 had very recently entered into a partnership with Ripple Labs and SWIFT was found exactly duplicating  Visa which made a monumental purchase of a payments company called Earthport, a long term partner of Ripple Labs. This “backdoor” or “indirect” partnership of traditional payment masters with Ripple also makes one think that the considered “battle” in the payments space may actually be more of a giant network under construction, which includes all the major players in the industry and implements cutting edge technology, with Ripple increasingly growing as part of this network.
This partnership announcement somehow fizzled out the excitement of the hot debate and what have seen on stage it seemed that the two men were just agreeing with each other than debating. But if things continue this way, in this battle between crypto/classical and crypto/crypto, we may very well end up seeing a mesh of networks that would connect all the players thus bringing value to the consumer through the power of technology.
The post Expert Opinion: Ripple And Swift “indirectly” Partner Through R3 appeared first on Coingape.
Source: CoinGape

XRP will be used by several major banks around the world for cross border payments says SBI’s CEO

Ripple’s major partnership in the east comes from Japan’s bank consortium SBI, which has several major banks under its wing. The CEO of SBI, Yoshitaka Kitao said in an interview with Boss’ monthly issue that major banks will use XRP around the world for Cross Border Payments.
A Twitter user and XRP enthusiast, @Dillon posted a tweet which translated the Boss’ monthly issue. He tweeted:
“SBI CEO @yoshitaka_kitao says he thinks 20 major banks will use XRP in 2019! And some other nuggets. Translated from the BOSS monthly issue Feb 2nd 2019. Lets go”
As per the interview for Boss, which is a 24-page monthly issue about the future of payments, Yoshitaka Kitao said that he was looking for new ways to integrate XRP into the payment system and that he wants to implement XRP massively before the 2025 Osaka Expo.
Mr. Kitao continued that it was difficult to make payments via Bitcoin and that he believes that XRP would be an alternative. He continued that he wanted to set the stage for XRP to take off when the time was right.
He continued:
“I think 2019 is the year when approximately 20 of the world’s major banks would start to incorporate XRP for international money transactions.”
Kitao added that Japan already has a money transfer application called “Money Tap” which used Distributed Ledger Technology [DLT] but not XRP and that he wants to inculcate XRP via “Corda” which is R3’s application for transferring assets.
With the recent R3 and SBI Holdings partnership, Mr. Kitao’s dream about setting XRP for a massive implementation in the financial system is closer to reality.
Yoshitaka Kitao stated:
“We would like to create a joint venture with R3 and SBI in Japan like we did with Ripple. And start up the consortium as soon as possible and develop the system while holding the conferences in which many people can learn the system in parallel. In this way, by using XRP, visitors from all around the world come to Japan can pay bills  without exchanging the money from US dollars to Japanese Yen.”
Yoshitaka Kitao said that as soon as this partnership is done, they will be focussing on expanding this system across the world and that it was his dream to achieve this. Kitao said:
“Ripple has a strong feature on transferring money, therefore, we can take advantage by using Ripple for international money transfer and the rest of the transaction will be done using R3’s Corda… Our current strategy is to expand worldide and complete the system before Osaka EXPO 2025”
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Source: AMB Crypto

Ripple-Swift Rumour Gets Rekindled as Ripple CEO Says, Open to “work with Swift”

Speculations around Ripple-Swift partnership is rekindled as Swift announces its partnership with R3 for its Corda platform that uses XRP and Ripple CEO Brad Garlinghouse said, Ripple was open to “ways we could work with Swift.”
XRP Surges as Swift Announces partnership with R3
As the crypto market turned green, XRP shot off nearly 10 percent. The 2nd largest cryptocurrency has been trading at $0.3194 at the time of writing, as per Coinmarketcap data. In the BTC market as well, it is in the green by 8.14 percent. With a market cap of $13 billion, it is currently managing the daily trading volume of $653 million.

XRP 7-days price chart, Source: Coinmarketcap
XRP has taken off on the back of rumour mill centering around Swift and Ripple. Today, Swift, the arch-nemesis of Ripple announced a partnership with R3, an enterprise blockchain consortium. And the rumour mill has already started going.

According to the announcement, the global payments network, Swift that has 11000 members to its name has launched a proof of concept (PoC) connecting GIP with the R3 Corda platform to “trial a new gateway to interlink trade and e-commerce platforms. The result of this trial will be published in September.
“Following the recent launch of our Corda Settler, allowing for the payment of obligations raised on the Corda platform, it was a logical extension to plug into SWIFT gpi,” said David E. Rutter, CEO of R3
Speculations Rife
XRP supporters are extremely excited and that can be seen in the sudden spike of its prices. Now the speculations are rising yet again, providing XRP the opportunity to achieve adoption by Swift.
One such enthusiast commented, “We’ve known this for awhile and yet people seem to still think that Swift and XRP have no connections whatsoever when that’s obviously not true at all. Looks like a lot of people are finally seeing what we have been saying for a long time now.”
And another one, “BOOM!!!!!! R3 and Swift! Perhaps XRP integration through Corda!”
However, this time there’s is a good reason for XRP community to speculate as not only R3 uses XRP with the Corda platform but today, at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt, who will be stepping down in June, talked about XRP.
“I think that the big part of Ripple’s value proposition is the cryptocurrency XRP. There we do find the banks are hesitant to convert things into a cryptocurrency right now because of the volatility in the currencies” said Leibbrandt.
Also, the presence of Ripple CEO Brad Garlinghouse on the panel that according to CNBC, said that Ripple was open to “ways we could work with Swift,” further fuels the fire.
The post Ripple-Swift Rumour Gets Rekindled as Ripple CEO Says, Open to “work with Swift” appeared first on Coingape.
Source: CoinGape

Ripple, Hold On! SWIFT Announces Integration with R3


Ripple, Hold On! SWIFT Announces Integration with R3

R3 is taking the global financial network by storm. Recently, the blockchain enterprise took SWIFT away from the hold of Ripple and is threatening Ripple’s own existence.

Ripple, Hold On! SWIFT Announces Integration with R3

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Source: CoinSpeaker

Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals?

Earlier today at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt announced integration with R3. He said,
“we are announcing later today a Proof-of-Concept with R3 blockchain on trade, where you can initiate a payment on the trading platform, and then it goes into GPI. So we’re exploring interconnectivity with a lot of things.”
Swift is an 11,000-member global payments network that has established a global empire for cross-border payments. XPR gained 11.15% with a flash price rise from 0.288 to 0.319. RippleLabs and R3 have for long coveted a partnership or rather take-over of payment channel from Swift using the DLT platform.
The integration is nevertheless excellent news for XRP HODLers. Brad Garlinghouse, the chief executive of Ripple, a fierce competitor to R3 was also attending the conference who noted that
“I hear people talk about volatility and I feel like they’re propagating this misinformation,” he said. “Mathematically, there’s less volatility risk in an XRP transaction than there is in a fiat transaction.”
30-minute XRP/USD chart on Bittrex
Price Analysis of the Sudden Rise
The charts reveal that there was a ‘fundamental’ push in the price. The gap along with Volume rise signifies sudden market action because of positive news. However, a look at the RSI index – 75 in the same graph, the charts suggest oversold conditions. The 1-D chart indicates that if the price breaks the $0.34 resistance, then an upside towards $0.40 is on the cards.
Volume Rise Momentary Or Trend Reversal next? 
The massive global XRP community HODLing their XRP’s are long awaiting an XRP bull run to $5. The partnership currently involves only a small group of Swift partners in the Swift GPI upgrade team. Swift with a small test group, Swift GPI, has rolled out new series of protocols since the last year to compete with the growing DLT platforms and specially Ripple and R3.
R3 with its DLT platform, Corda; will provide service to the member banks and institutions of the Swift GPI team in a series of tests for integration and full-scale adoption. The number of banks in the Swift GPI program is only 165 when compared to the 11000 total membership.
Ripple’s XPR is confirmed to be used as the primary settler of transactions on Corda; however, the amount of XRP or the associated volume is clear as of yet. The test network would be used to create comprehensive results after real-world application. The surge in volume earlier during the day, hence, might be attributed to weak or over-hyped fundamentals.
The post Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals? appeared first on Coingape.
Source: CoinGape

Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial

Ripple price surge 10 percent
SWIFT GPI Link proof of concept with R3’s Corda
Transactional volumes picking up, spikes above averages

SBI Holdings may be behind an audacious plan of integrating SWIFT GPI with RippleNet via R3’s Corda Settler. The latter use XRP, and if that is the case, our previous XRP/USD trade assertions will be valid. With a 10 percent spike, it is likely that XRP could retest 80 cents.
Ripple Price Analysis
Good news for Ripple and XRP. SWIFT, the global payment messenger platform, is in a proof of concept stage, trying out its new GPI Link payment standard withR3’s Corda. If anything—and if this testing phase is a success, then we could see SWIFT integrating XRP indirectly via the Corda platform. Remember, in Dec 2018, Corda Settler launched. Corda Settler is an application that facilitates cryptocurrency payments between enterprise blockchains via XRP.

We are excited to announce our partnership with @swiftcommunity to integrate gpi with Corda Settler. @Cordablockchain https://t.co/FyEJScr0j8
— R3 (@inside_r3) January 30, 2019

Furthermore, there is an existing partnership between R3 and SBI Holdings where the former has a 60 percent in the SBI R3 Japan venture. It doesn’t stop there. SBI Holdings also has a 60 percent stake in SBI Ripple Asia consortium, and the banking group is a keen supporter of XRP and Ripple solutions.
“SBI Ripple Asia is providing a next-generation payment platform powered by DLT (Distributed Ledger Technology) to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.”
Candlestick Arrangements

From the above, it’s not hard to see why Takashi Okita of SBI Holdings is not pulling strings as SWIFT trials on Corda. XRP is up 10 percent at the time of writing with decent trade volumes.
We shall gauge the level of market participation by close but what is clear is that there is a double bar bull reversal pattern off 30 cents. The bar does confirm bulls of mi-Dec 2018 as well as bringing to light the previous trajectory set by Sep 2018.
Because of this, it is likely that XRP bulls will drive prices above 34 cents igniting risk-off long positions with first targets at 40 cents.
Technical Indicators
Even though we have a clear bull bar, transactional volumes are light—but above average. At the time of writing, today’s bullish engulfing bar was pumped by high-volumes –23 million. Trading ranges are extensive, but volumes are below those of Jan 28—31 million and less than 83 million of Jan 10. All the same, we are in the early stages of a trend reversal, and transactional volumes are building up.
The post Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple and XRP inching closer to disrupt the gaming industry; Brad Garlinghouse confirms games on XRPL

During the Davos conference, Ripple’s CEO, Brad Garlinghouse mentioned that games were being built on the XRP Ledger. Considering Ripple being a payments company, this recent revelation took the community by surprise.
The Ethereal panel at Davos had Brian Behlendorf, Ethereum, and ConsenSys’ Joseph Lubin and Ripple’s CEO, Brad Garlinghouse who discussed various topics ranging from payments/remittance solutions to games being developed on the blockchain technology.
The discussion about games on blockchain erupted as Zynga’s developer, Eric Schiermeyer asked the panel if the blockchain for gaming industry was underhyped.
Garlinghouse stepped in to answer the question. He said:
“I think this is one area where blockchain use is underhyped… it is incredibly interesting in terms of which underlying blockchain is most efficient… I think there’s a couple being built upon the XRP Ledger and I think it’s gonna be very interesting space to watch in 2019.”
As surprising as the above sounds there are actually proofs to support Garlinghouse’s statements. Connecting the dots, Ripple has already partnered with Microsoft in 2015. Moreover, Microsoft’s Azure Blockchain as a Service [BaaS] which is being led by Marley Gray ultimately focuses on the payments. With Ripple’s Interledger Protocol payments and remittance doesn’t seem so far-fetched.
In addition to Ripple and Microsoft’s partnership, R3 is an enterprise blockchain software firm with over 300 partnerships which includes Microsoft. R3 has built a customer base which can use their Corda Network and CorDapps to create an ecosystem for easier and instant payments.
Microsoft, in a press release, said:
“Microsoft is expanding its strategic partnership with R3 to more deeply integrate R3’s distributed ledger platform, Corda and R3Net, with Azure.”
The second strategic partnership that Ripple has struck is with GSR, which brings the dreams of games on the XRP Ledger closer to reality.
GSR, a pioneer in electronic trading of digital assets, utilizing proprietary technology built in-house to provide liquidity solutions globally since 2013. Moreover, GSR became one of the first market-makers on Ripple’s Consensus Ledger.
The CEO of GSR, Cristian Gil spoke about how the gaming industry is an untapped market that can prosper with the right technology like blockchain. He said that gamers usually purchase in-game items which becomes relatively useless and that there isn’t any trusted platform to perform such actions. Gil added:
“I guess it was a natural next step to use Ripple protocol to allow the users, the citizen of Beach Head to trade these different digital assets.”
Gil continued that he will be leading the market making for the Beach Head project and make sure that there is a liquid market and it offers other tokens like XRP, Bitcoin [BTC], Ether [ETH].
The CTO of Blockchain Economy Director responsible for creating the crypto-economy in the game, Alexis Sirkia, said:
“The Ripple Trading Engine will act like a matching engine which is distributed and trustless. Ripple Engine is the only distributed trading engine that is mature enough to be used. It has a settling time of only four seconds and is a perfect vehicle for trading.
The post Ripple and XRP inching closer to disrupt the gaming industry; Brad Garlinghouse confirms games on XRPL appeared first on AMBCrypto.
Source: AMB Crypto

ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy


ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy

Dutch international bank ING has signed a deal with enterprise blockchain consortium R3 for access to R3’s commercial blockchain platform.

ING Bank Settles a 5-Year Deal with R3 Corda Enterprise in a Bid to Transit Its Clients to Distributed Economy

Continue reading at Coinspeaker
Source: CoinSpeaker

XRP powered Corda Settler ties up with Hyperledger’s Indy project; r3 explains the details

In a recent meeting conducted by Hyperledger, the officials from r3, the blockchain solutions company, spoke about its partnership with Hyperledger’s Indy project and how it aims to become a fundamental step to propagate portable identities across blockchain platforms.
Mike Ward, the Managing Director of Product for r3, spoke about how the open source format of the partnership is something that works in tandem with Identity’s platform. r3’s major development is Corda Settler, an open source CorDapp that helps Corda users to settle transactions. Corda had also taken another step recently when it adopted XRP, the third largest cryptocurrency on the planet, to become its first settlement mechanism. r3 had earlier stated:
“Corda Settler provides a bridge to any payment rail that can return a cryptographic proof of settlement. This includes any ‘traditional’ domestic and cross-border payment systems able to return such a proof, as well as blockchain and cryptocurrency-based rails.”
During the recent discussion, Mike Ward also spoke about how Corda has a workflow engine and the partnership between Corda and Indy will enable to build transactions that will have an assurance of validity.
Another characteristic of the tie-up will be the fact that claims on the network can be obtained and transferred to and from other parties. The r3 MD added that any sovereign network can also integrate and work with the Corda network. In his words:
“The real challenge is in bringing on issuers on the platform one use case of at a time. One major use case will be the different ways in how government organizations will be benefited by this implementation.”
Corda’s recent development has made quite a mark on the crypto sphere after the adoption of XRP. In a demonstration explaining the working of the transactions, r3 had said:
“A network of participants using Corda Settler – Company A and Company B are the counterparties. They are using a notary service on Corda and they both have access to nodes in other payment systems.
The completion of the transaction between both the parties depended on the type of currency chosen by company A to receive the amount from company B. The usage of XRP was further explained by r3 when the company explained:
“Company B is now ready to settle this obligation and so initiates a transaction from their XRP node. This obligation can be settled in one or many transactions. Company B gets a payment submission confirmation from the XRP network, updates the obligation with the transaction hash and sends it to company A and the settlement.”
The post XRP powered Corda Settler ties up with Hyperledger’s Indy project; r3 explains the details appeared first on AMBCrypto.
Source: AMB Crypto

Nordea, One of the Biggest Banks in Europe’s Ripple Connection

In an interview, Nordea CEO reveals that Ripple and its R3 Consortium is of enormous importance to them. Also, Deloitte in one of its most notable prototypes is integrating Ripple and Stellar blockchain platforms to enable P2P transactions across geographies.
Ripple and R3 Consortium holds Enormous importance for Nordea
An article in Kauppalehti, a Finnish website, mentions the CEO of Nordea, largest financial group in Northern Europe talking about a potential cooperation with R3.  
According to the rough translation of the article, von Koskull shares,
“…major changes are anticipated on the payer side. Information is already passing in the world for seconds, but thousands of billions of billions of dollars are slow. Bank transfer from Helsinki to New York costs extra and still takes days. “Payments are, of course, the greatest potential, the volumes are the biggest.”
It further talks about the Temenos system that will be compatible with faster and cheaper payment solutions based on block technology and they are already challenging the popular banking SWIFT payment system.
“Ripple has already launched its own technology, which is being introduced in Japan. Everything is done in cooperation with banks, such as the R3 Consortium. It is of enormous importance to us. “
Ripple and Stellar to Enable Person-to-Person (P2P) Transactions
A Reddit user found a paper by Deloitte on Project Ubin: SGD on Distributed Ledger along with the Monetary Authority of Singapore (MAS) that talks about Distributed ledger technology (DLT) and using it in the cross-border payments.
“DLT offers significant benefits to both P2P and Business-to-Business (B2B) payments in terms of cost savings, increased efficiency, and improved security. Cross-border payments have plenty of room for innovation, and the future looks bright for DLT within this use case.”
However, the most important aspect of this report is the Deloitte’s prototype for cross-border payments that will be using both Ripple and Stellar blockchain.
“One of Deloitte’s most notable prototypes is the cross-border payments application… The prototype integrates Ripple and Stellar blockchain platforms to enable Person-to-Person (P2P) transactions across geographies.”
Though Deloitte has already integrated Ripple technology in 2016 along with the Stellar network, looks like the company is using both the technologies in its protocol.
The post Nordea, One of the Biggest Banks in Europe’s Ripple Connection appeared first on Coingape.
Source: CoinGape