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Although cryptocurrency regulation is still uncertain, Ripple is moving forward with new updates, partnerships and commitments. In the latest press published on January 25, 2019 by 'The Edge Singapore', Cippie Johnson of Ripple expressed his opinion on Ripple's rapid progress. The news was first announced following a new tweet from BankXRP, an XRP enthusiast on Twitter.
Discount set for one
revolution with RippleCory Johnson: The places where we're going to be the biggest are the ones where it's the hardest
move money @Hodor @CoryTV @bgarlinghouse@chrislarsensf #Ripple #XRP
PDF https://t.co/r9x583Sg4v pic.twitter.com/YlguK1l8b6– ??? (@BankXRP) January 26, 2019
In a statement entitled "Remittance for a revolution with RippleCory Johnson states that "The places where we are going to be the biggest are the ones where it is the hardest to transfer money"
Quoting Singapore's cryptocurrency regulations, Cory Johnson, Ripple's marketing manager, called "Singapore a cryptographic paradise." He appreciates the country's initiative to adopt blockchain technology. Indeed, Ripple is already in discussion with the MAS (Monetary Authority of Singapore) to adopt the product of Ripple, but the authority has not yet been confirmed, said Cory.
"Singapore has taken a very forward-looking approach to blockchain and crypto, enabling it to obtain the results of cutting edge technology, including the use of Ripple to transfer money across borders . "
The paper also notes that the emergence of Ripple is an alternative to "SWIFT", a traditional method of money transfer. He describes;
"SWIFT, however, uses a relatively old banking correspondence system. Many have complained that payment transfer via its global payment innovation (GPI) is slow, expensive, opaque and requires manual intervention by banks. In addition, only about half of the payments sent via SWIFT GPI are credited to the payee in less than 30 minutes, while the remaining messages are delayed due to errors in the payment data. "
Following the aforementioned problems with the traditional SWIFT system, Ripple introduced xRapid, which uses an XRP token that would create cash. At this time, the average market capitalization of XRP is $ 12,755,983,415, which is gaining popularity day after day.
In addition to Ripple and SWIFT, the document compares XRP to Bitcoin. It is said;
"Unlike Bitcoin, the XRP is not exploited. Transactions involving XRP take only a few seconds compared to Bitcoin, which takes about 20 minutes. "
Moreover, just in 2017, RippleNet has expanded to more than 40 countries on more than six continents. Very recently, on January 08, 2019, Ripple announced that it has exceeded 200 Ripple technology subscribers. These included Euro Exim Bank, ConnetPay, Ahi Bank of Kuwait, Olympia Trust Company and Rendimento.
In mentioning this, Cory adds:
"The places where we are going to be the biggest are the ones where it is the hardest to transfer money"
To make the payment system more accessible, Ripple also announced for the first time the commercial availability of xRapid. This makes it easier for financial technology companies such as MercuryFX, Cuallix and Catalyst Corporate Federal Credit Union, which allow their customers to send more money home by citing low fees.
Learn more about this update here – http://tefd.theedgemarkets.com/2019/TEP/20190125ak258m.pdf
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