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Ripple Says Hackathon Winner Bringing XRP Payments to 4 Billion Smartphone Users Around the World

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hello folks you have reached the cryptocurrency portal and today we're going to go over a little information about ripple and it's pretty big information from you can see from the headline says ripple says hackathon winner is bringing XRP payments to 4 billion smartphone users around the world and as you know that ripple is trying to get more and more use case for the digital asset XRP and this looks to be a big one so let's go through it together and learn together it says here ripple says a new XRP based payments app will allow for 4 billion that's B with a B billion smartphone users to send money anywhere in the world via text now the app is called remit which was developed at slow hacks which was the recent hackathon at the California cybersecurity Institute at the California Polytechnic State University Cal Poly and ripple says the platform leverages the spring software development kit sdk for XRP and the Twilio application programming interface for text messaging now I've done a video separately about spring and the software development kit so look in the comments section below a link to that video about spring and their SDK kit so here is their quote here says SMS is the most widely used data application on the planet with over 4 billion users worldwide many of which don't have access to the Internet now remit now allows these users to send money globally using X RP / SMS and soon enter Ledger imagine that how many people don't have internet access in those those countries that don't have readily access and available internet connection you're getting more and more people into this era some more more use cases spring ripples development and fundraising arm sponsored the hackathon where 275 developers gathered to create new and innovative projects in the world of FinTech gaming and cybersecurity imagine what that room was like with 275 of these bright individuals developers just creating more use cases for the crypto space and in this case it looks they've got some big ones for ripple and spring and XRP utility remit is the winner of the best use of spring challenge which focused on creative uses for xrp and the inter ledger protocol ILP ripple also rewarded a runner-up prize to the project called superconductor which is a browser extension that allows users to purchase goods and services on eBay and Amazon using XRP and aetherium so looks like more more applications more and more use cases more and more forward momentum in the crypto space so that is pretty amazing folks will definitely be watching that and see how that unfolds and if there's more to this I'll do another video about it so the next thing is Ripper reveals effort to launch new crypto assets on the XRP ledger it says ripple is working on a new feature that would allow people to easily launch asset based crypto tokens on the XRP ledger David Schwartz Ripple's chief technology officer and he is one of the brightest individuals you'll ever see I just look at him on watches YouTube videos out there he is bright and I can see why he's the head of ripples num chief technology officer and he says the development would differ from other systems that currently offer similar features and the quote is one of the features that I think is very exciting is a feature that would allow people to launch essentially assets pegged to some external value features similar to that exist on other systems but the interesting thing about this is that the liquidity is guaranteed by the ledger mechanics now although the crypto assets could be used for a variety of purposes short says stable coins are an obvious use case for the new feature and his quote is the key distinguishing property of this proposal is that the stable coin is always redeemable for XRP on the ledger from the collateral pool so for example if you hold one unit of stable coin you can make on ledger payments at any time just as if you held $1 worth of XRP ripple has offered a handful of hence on new ways that companies could build on the XRP ledger Swartz first discussed the prospect of an XRP collateralized state coin in our last October then in September ripple acquired the logos Network a decentralized payments startup expected to help ripple create decentralized finance platforms on the XRP ledger so more and more use cases folks as part of spring the logos team will be leading an ongoing initiative to explore a decentralized financial or defy system that will leverage XRP at its core as well as other ideas we are exploring to leverage crypto to transform payments and finance the logos team will bring even more horsepower to what the spring team can deliver and to wrap up ripple is proposing a number of other ways to improve X our pls consensus protocol the most highly publicized feature would allow XR p ll counts to be removed from the ledger so more and more use cases just amazing as for momentum so this was interesting how India's reversal of its Bitcoin ban could be huge for ripples XR P so earlier India's Supreme Court reversed a banner against Bitcoin ripples xrp and other cryptocurrency so generically they say Bitcoin but they mean all crypto currencies now it says well this is a huge development for all digital assets from the market leaders to the small coins that few know of some are saying this ruling could have an outsized effect on X RP which has been struggling in terms of price action over the past year more so so of all the coins India reverses the key crypto anti crypto regulations so for those who missed the memo first a recap on Wednesday India's top court struck down a director from there was federal reserve an idea that banned banks from offering services to those that dabble in cryptocurrency whether it be Bitcoin or xop or otherwise so you can see a sue jus there you can follow that person on Twitter and you can see their handle is at Z hu su @ z hu su now mister cacar a partner at the law firm P&L excuse me Ellen L partners explained to Bloomberg on the matter with this order there is likelihood of mature more mature and balanced regulation of cryptocurrency and the FinTech sector as a home that's the key we've always just want regulatory clarity not stifling rate regulations but just regulatory clarity just so the space can continue to evolve and mature now according could be bullish for XAR pm

and ripple according to credible crypto a prominent industry commentator and trader this decision by the Supreme Court reverses the ban will be essentially bullish for XRP he explained the following regulatory clarity was the final piece of the puzzle that was holding rippled back from going after the indian remittance market aggressively great for XRP the importance of India to ripple can be further corroborated by the fact that senior vice-president product at the company Ashish Birla said in a payment wharton that digital payments and remittances will be huge for indians in the future and his quote is where's the future and so we realized in the next 5 years 1 billion people will become banked in india and they'll be banked through their phone so then we started targeting mobile phone providers and telcos so the regulatory clarity surrounding cryptocurrencies which should follow upcoming hearing to the Supreme Court is like to Asajj fears that using a cryptocurrency based international payment system like ripples odl on-demand liquidity system is a viable option remember the on-demand liquidity is what their ex rapid product used to be named so you speak you name an ex rapid they rebranded now their on-demand liquidity so it's the same product this comes at an important time ripple is in the midst of a push for the adoption of its products including odl which uses XRP as a bridge currency between institutions and fiat currencies now the company has successfully started to implement this product into the East Asian markets which are full of need of remittances making India the next logical step so big news big steps so just since we're on ripple and XRP check this out South Korean crypto platform expands borderless payments powered by ripple to 12 corridor so more and more for momentum and use cases coin one transfer the subsidiary of the South Korean crypto exchange platform coin 1 says it's reaping the benefits of its partnership with ripple the retail remittance service has expanded borderless payments powered by ripple to twelve corridors in a customer video Camille Zhang business development manager of coin one transfer says the company's alliance with ripple has helped its service grow from two corridors to twelve corridors in just one year one year so here's the quote our first corridors were the Philippines and Thailand and right now we have over 12 corridors we are seeing big growth of this moment and within a year of launch we are having an average monthly growth rate of over 50% when we work with our partners on ripple net we can easily integrate with the solution and also the operational cost is lower because we share standard processes we can use the unified format for requesting remittances so we can easily connect with our other partners now coin one transfer is not using X our fee for transfers is not indicated if it will use the digital asset in the future but you never know the company is currently leveraging ripples messaging system and enterprise solution that enables financial institutions to transfer funds across borders but that's just kind of the first step so neck all right so continuing on ripples chief says he's bullish on Bitcoin but calls BTC and aetherium and energy consumption mind-blowing so we won't go through all of this it just says Brad darling how CEO for ripple he's a he says he's always said he's a Bitcoin investor despite the belief that the leading cryptocurrency is a wasteful energy hog so just look at his Twitter page here energy consumption for BTC and eath mining is a massive waste and there's no incentive to take responsibility for the carbon footprint absolutely that is that this isn't the high on the agenda for the glow growing climate crisis so he's kind of leveraging probably the climate private crisis that's going on bringing it to the forefront that obviously with the BTC and ether you have to mine in order to get more of the blocks released so I get what he's trying to do so we'll just leave it at that so the last thing I want to go over it says ripple powers exporter corporate payments for the UAE bank but it says as part of a broader effort to bring the newest innovations to its operations that National Bank of Fujairah F JSC has teamed with blockchain firm ripple to enable cross-border payments via the ripple net platform clients of the Bank will now have the ability to make secure real-time payments with clear tracking of transactions from beginning to end according to an announcement the technology allows the bank to tap into ripples cross-border network and improve its user experience according to the announcement the traceability and speed of the execution of the transfers allows the customers to achieve substantial improvement in the transparency and effectiveness of the payments NBF CEO Vince Cook said in the announcement and a fast moving environment banks have to act with agility and constantly look forward look for new and improved ways to service their clients digitization remains a key catalyst for change and it's a customer first bank we understand the importance of leveraging blockchain technology to deliver seamless and frictionless experiences to our clients Cooke continued ripple net will enable us to stimulate and enhance payment experience that will allow our corporate clients to manage their finances in a more efficient way we always look for the next best thing for our customers as part of our commitment of being the best financial partner for their business and personal needs in 2019 new surface that PNC Bank has started to utilize ripple net to facilitate cross-border transactions PNC was reportedly the first a us Bank to use ripple nets blockchain network to move money across borders the solution was available to corporate clients of the PNC Treasury management unit which enables business clients to receive payments on their outstanding invoices in real time from international corporate buyers using ripple net so just another use case more Ford momentum and here we are folks I just want to go over that stuff today thank you so much for tuning in the cryptocurrency portal as always if you have any comment about the crypto space in general please leave in the comment sections below again I'll leave a link to that video that I did about spring and in general in the comment section below I wrote if you liked this video please smash the thumbs up button it really helps out the channel helps out the Google or YouTube algorithms all that so if you like this video please smash that thumbs up button and also hit the bell notification Bell because I upload each day new information about the crypto space if you like what I do and want to be notified of when I release my next video smash that Bell notification button and as always just leave any comment about the crypto space in the comment section below I respond to all comments I love getting a conversation going in the crypto 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