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The predicted third generation of the World Wide Web, usually conjectured to include semantic tagging of content.

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TRON Announces BitTorrent File System Protocol: Decentralized Peer-to-Peer Storage Next Step in a Blockchain-Powered Web 3.0

Coinspeaker TRON Announces BitTorrent File System Protocol: Decentralized Peer-to-Peer Storage Next Step in a Blockchain-Powered Web 3.0TRON, a leading blockchain platform, announced it plans to incorporate decentralized storage as another blockchain solution into the BitTorrent ecosystem. The move is another step in TRON’s mission to create a borderless internet where privacy and ownership are more user-controlled.BitTorrent, a leader in peer-to-peer protocols and products, will incorporate BitTorrent File System (BTFS) to allow users to receive and host storage on their computers with other individuals and businesses. A variant of the open-source InterPlanetary File System (IPFS) protocol, BTFS began testing internally in late May and is the first step in creating a distributed web platform powered by blockchain technology.Justin Sun, founder of TRON and CEO of BitTorrent, said:“BTFS is a continuing step in our mission to create a decentralized internet that allows everyone to share in the wealth of web commerce. We’re creating a platform with BTFS, BitTorrent Speed blockchain integration and the BTT utility token to let users quickly and privately interact with each other around the world without a middleman or government intervention.”A 2018 study from McKinsey Global Institute that analyzed 5,750 of the world’s largest private and public companies with revenue of $1 billion or more found that the top 1 percent of those companies captured 36 percent of the economic profit. A decentralized internet would create a scenario where some of those profits, from ads sales, data collection and other means, are shared back to people who opt in to big companies’ business models.BitTorrent plans to leverage its 100 million BitTorrent monthly active users, more than 1,000 TRON full nodes, 27 Super Representative nodes, and global TronGrid nodes, to become the world’s largest distributed storage and media sharing network. Internal testing began this quarter, with full implementation expected by the end of the first quarter of 2020.In Q3 2019, BTFS Mainnet will be launched for public access and will power all TRON decentralized applications that require a decentralized storage network. Preliminary developer tools will be available and a few outstanding popular dApps built by the community will be running on the platform, including the upcoming TronMovie and BitTorrent Pix.For more information on BTFS and the BitTorrent roadmap, visit https://www.bittorrent.com/btfs.About BTFSBitTorrent File System (BTFS) is both a protocol and network implementation that provides a content-addressable, peer-to-peer mechanism for storing and sharing digital content in a decentralized file system. BitTorrent Speed rewards BitTorrent users with BitTorrent (BTT) in exchange for seeding and bandwidth, enabling faster downloads. Users now have the opportunity to be a part of the tokenized decentralized internet and support content creators all around the world from their torrent clients.About TRONFounded in September 2017 by Justin Sun, TRON is dedicated to creating a boundary-free internet that inspires innovation across industries. TRON and its subsidiary BitTorrent give users direct access to applications, content, and media by combining best-in-class blockchain approaches with innovations in peer-to-peer sharing and other technologies.TRON Announces BitTorrent File System Protocol: Decentralized Peer-to-Peer Storage Next Step in a Blockchain-Powered Web 3.0

From Web 0.1 to Web 3.0: How Chromia Plans to Bring Mass Adoption to dApps

From Web 0.1 to Web 3.0: How One Company Plans to Bring Mass Adoption to dAppsRelational databases, commonly known for its universal SQL (Structured Query Language) undoubtedly propelled the boring, static internet into a thriving worldwide network of information exchange. As we begin to venture into the exciting era of Web 3.0, projects are now looking to relational blockchains to usher in the next era of the decentralized web.How Relational Databases Shaped the Web As We Know It TodayRelational databases is not a new concept conceived by the internet boom in the 90’s and early 2000’s. IBM conceptualized the first relational system database, called System R in 1974 — decades before the internet began to gain traction. System R was the first implementation of SQL, with basic — but crucial — operations known as CRUD: CREATE, READ, UPDATE, and DELETE. These four simple operations would change the world in the decades to come, giving birth to countless RDBMS (relational database management systems).Web 0.1 — The Birth of the InternetARPANET’s Growth Over a DecadeMost of those in the tech / blockchain industry probably have heard of ARPANET — the first “internet” which was basically a network of four university computers that could send transmissions to each other.Over time, more universities and institutions joined the network, laying the groundwork and foundation of what powers the Internet to this day, from TCP/IP to HTTP. Admittedly, the network was difficult to use, it was not pretty, and UI/UX weren’t even a field of study at the time. Almost everything in the early stages were command line based and intimidating for those uninitiated with these new giant machines they called computers.Linux CLI’s got nothing on ARPANETWeb 1.0 — Static, Non-Interactive Mediums of Information ExchangeWith the rise of personal home PCs and dial-up internet, things began to get interesting… sort of. The 90’s really kicked off the beginning of the mainstream adoption of the internet, with “mind-blowing” GUI (graphical user interfaces) and consumer ability to send emails almost instantly to the select few friends and relatives that were early adopters. Every house was bombarded with AOL “Free Trial” CDs, The distinct noise of the dial-up modem connecting to the internet as well as the “You’ve got mail!” soundwave would be embedded in every internet user to this day.There wasn’t much you could do on the internet. There were a couple news sites, some niche directory of links, chat rooms, email, and of course — porn and GeoCities. Still, the internet continued to develop.Web 2.0 — Dynamic, Interactive Websites!Long story short, the rapid development of technologies like Javascript, Macromedia Flash, and standardized web standards resulted in an incredible change of landscape of the internet. To this day, these technologies (some retired — RIP Flash) are being improved upon at an incredible pace, largely thanks to the concept of open source software.However, there is one significant piece of the puzzle that largely remained unchanged, and arguably helped the Web 2.0 growth the most — relational databases. PHP and MySQL dominated the early days of Web 2.0, and still does to this day. Let’s take a quick look at our favorite sites and software from the early days:Xanga — PHP & MySQLNewgrounds — PHP & MySQLDeviantArt — PHP & MySQLPhotobucket — PHP & MySQLAddictingGames — PHP & MySQLAll your favorite forums (vBulletin, phpBB, SMF) — all PHP & MySQLRelational databases, specifically MySQL, completely changed the landscape, and is still the most dominant RDBMS to this day. Relational DBs organize data into tables, which contain columns and rows with a unique key identifying each record. This allows for easy, efficient, and logical ways in which data can be stored, updated, and retrieved. Without this seemingly simple, yet so powerful piece of data storage technology, the internet would look completely different today.Web 3.0 — The Race for Mass Adoption of Decentralized AppsWe can all agree that blockchain technology is an amazing and fascinating gift to not only the tech world, but across all sorts of industries. However, there are undeniable deficiencies when it comes to certain things.Blockchain by definition is an immutable ledger agreed upon by the network participants in which all transactions are recorded. This is great for certain use-cases, but can be clunky and overwhelming for others. These blockchains can get massive in size (Bitcoin’s nearly 160 GB), retrieving data can be slow, costly, and very inefficient. If a single dapp like CryptoKitties can grind a network to a halt, that network is simply not ready for mass dApp adoption.Now let’s take a step back and remind ourselves why and how Web 2.0 grew so rapidly. Relational databases. Websites and users could store, update, delete, access the exact piece of data that they need almost instantaneously. In order for true mainstream adoption of dApps to be possible, the blockchain industry needs something of similar or better method of achieving these results.The Birth of Relational BlockchainsYes, you read that correctly — relational blockchains. ChromaWay is a Swedish company known mostly for its blockchain research and humanitarian efforts since 2013. Last year the company made a huge breakthrough by developing the world’s first relational blockchain, named Postchain.Postchain is a convergence of a relational database and a blockchain which is SQL-based, flexible, secure, and easy to use. In other words, it offers the best of both worlds.Chromia, set to launch its IEO on Kucoin’s Spotlight on May 28th, utilizes Postchain and Rell, a simplified querying and programming language as its backbone to allow developers with zero prior blockchain development experience to easily create dApps that is not only scalable, but very flexible and familiar to regular app development.The Chromia Network boasts impressive near real-time 1 second confirmation times, 500+ transactions per second per dApp, and 100K+ read/write updates per second using Postchain. It also gives the developers freedom in how they want to monetize (or not monetize) the dApp, allowing them to choose from classic model, subscription model, freemium model, subsidized, donation-based, etc.Spearheaded by CTO Alex Mizrahi — who was the first person to tokenize assets on top of Bitcoin through the colored coins project and subsequently inspired Vitalik Buterin to begin the Ethereum project — the Chromia team has decades worth of combined experience in blockchain development and research. ChromaWay, the parent company of Chromia, has an impressive advisor list including Charlie Lee of Litecoin, and Vinny Lingham of Civic.Originally published at Lunar Digital Assets.https://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/hrefFrom Web 0.1 to Web 3.0: How Chromia Plans to Bring Mass Adoption to dApps was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.

HTC Allows Crypto Transactions via their new Web 3.0 Blockchain Smartphone Exodus 1

Author: Ramendra Kishore HTC, the electronics giant from Taiwan, has recently announced at the Magical Crypto Conference in New York about a new feature on its new web 3.0 blockchain smartphone Exodus 1. Early news in last October, reported that HTC’s early access Exodus 1 would be available for pre-order at a price of 0.15 bitcoins or 4.78 Ethereum tokens, which at the time would be around $960. Right now, though, the price has dropped until $699 and they are available to ship since last April. This is a part of HTC’s efforts to reach out to its millennial customers who would need complete cryptocurrency integration into their smartphones. Crypto Meets Smartphone The new smartphone belongs to the new breed of devices that are said to be part of web 3.0 offerings. It would allow the users to carry out cryptocurrency transactions, manage their crypto accounts from their phones, and also view the status of transactions and balances. Another important element in crypto trading and exchange is the private key of the traders. This phone would allow users to maintain ownership of their keys and also manage other collectibles. Meanwhile, the range of transactions possible from this smartphone also includes the swapping of over 60 major crypto tokens compatible with ERC20. The list includes major names like Basic Attention Token (BAT), Stablecoin (DAI), Kyber Network (KNC), and others. This exchange of tokens will be possible directly on HTC’s new smartphone and won’t need a terminal. This would also do away with the need for traders of cryptocurrency to take the help of third-party exchanges to exchange crypto tokens. According to Bitcoin News, users of this phone model can send Bitcoin, Ethereum, Litecoin, and other tokens from ERC20 and ERC-721. Opera has a dedicated crypto browser, and this phone can also allow users to access the crypto exchange applications on this crypto browser. Smart Storehouse for Blockchain Over the last several years, smartphones have already become very commonly used devices for regular payments in financial currencies. So, it was only a matter of time before cryptocurrency blockchains could also be held on a smartphone. Elaborating on this aspect, the decentralized chief officer of HTC, Phil Chen, speaking on the occasion said that bitcoin blockchain holds a large memory of around 200 GB and it is growing at a fast pace. And it’s time to integrate this with smartphones. This move will help HTC to make crypto trading much more accessible to the common man. The Brave New World for HTC With this announcement, HTC has secured its place in the list of selected manufacturers globally who have developed the expertise of storing cryptocurrency. The Exodus 1 and Exodus 2 will join the others in the race, like Samsung Galaxy S10 (only supports Ethereum), M1 from Electroneum, Finney from Sirin Labs, and Wings WX from Wing Mobile. It will be a remarkable step forward for a company which began operations a little more than two decades back. Last year, HTC reported $761.4 million (TWD 23.7 billion) in revenue. But just a year prior to that, things were not as rosy. The year 2017 saw them having to offload a team of their top engineers to Google, in exchange for a cash infusion of $1.1 billion. The same year, they reported a net loss of $337 million in a particular quarter due to adverse market competitions and stiff competition. But it also continued to make steady progress in emerging technologies and emerged stronger within a year. As the announcement by HTC showed, it is now firmly on the path to embracing the cutting-edge technologies like IoT, VR, AR, and of course blockchain and cryptocurrency. The post HTC Allows Crypto Transactions via their new Web 3.0 Blockchain Smartphone Exodus 1 appeared first on ZyCrypto.

Cryptocurrency Micropayments and Web 3.0: What’s the Future Hold?

Blockonomi recent released an interesting article titled Understanding Micropayments & Their Role in the Web 3.0. This is a summary. Bitcoin’s Lightning Network (LN) has made micropayments quite popular. In Web 3.0, which may be the future of the internet, micropayments may be able to bring about changes such as new monetization strategies, content platforms, […]
Bitcoin Exchange Guide

A serverless failover solution for Web 3.0 validator nodes

📡 A Serverless Failover Solution for Web 3.0 Validator Nodes 🤖 🔧An automated node failover solution is surprisingly easy to set up on a Web 2 infrastructure. It has two nodes with identical content. An external server monitors the primary node and detects if there is a problem. If so, your site’s internal DNS is automatically updated so that traffic will be redirected to your secondary node. Once your primary node is working again, traffic will be returned to your primary node.Depending on the final configuration, this solution could bring high redundancy. However, it isn’t cheap; it requires three servers that continuously consume many resources even if they are not doing much work.One of the principal objectives from this tutorial is to keep costs down. Virtual cloud providers have many tools to manage the cloud infrastructure giving us more control to manage our budget.In a Web 3.0 infrastructure, we would need a more sophisticated solution to create a similar approach. Managing peer-to-peer connections and redirecting traffic is far more complex to handle.An alternative solution that we will explore in this tutorial will be to start the secondary validator node only when our primary node goes down. We can think of it as an “emergency power system.”To achieve this, we will use an AWS EC2 instance to replace the primary node in case of failure. The primary node could be at your office, home or any cloud provider location. This node will be connected to the AWS cloud through the AWS IoT gateway by using a simple pub/sub setup.What is AWS IoT?AWS IoT is a platform for efficiently managing “Internet of Things” devices, also called “things.” AWS IoT can connect to other applications in the AWS cloud, such as Lambda functions, which are a handy tool for a serverless infrastructure.Things transfer data, called messages, through the IoT gateway, where they update a thing shadow or get to a rule engine. A thing shadow is a (JSON) object that contains information about a device that is updated when the state of the thing/device changes. It allows us to set, store and synchronize the things state and their cloud representation.The rules engine, as the name implies, is a set of rules that enable messages to interact with SQL type statements from the IoT gateway to a handful of downstream AWS services.We will focus on the rules engine as we want to connect our thing/device to Lambda functions.Message Queue Telemetry Transport (MQTT) is a Client-Server publish/subscribe messaging transport protocol. It is lightweight, open, simple, and designed to be easy to implement. These characteristics make it ideal for use in many situations, including constrained environments such as for communication in Machine to Machine (M2M) and Internet of Things (IoT) contexts where a small code footprint is required and/or network bandwidth is at a premium. It enables a mechanism to notify interested parties when an abnormal disconnection occurs.The protocol runs over TCP/IP, or over other network protocols that provide ordered, lossless, bi-directional connections. — http://mqtt.org/The IoT gateway works as the MQTT broker to allow device-cloud communication.http://micrasystems.com/real-time-messaging-using-mqtt/The subscriber (thing/service) connects to the broker. It can subscribe to any message “topic” in the broker.The publisher (client/thing) publishes messages under a topic by sending the message and topic to the broker. This connection will be encrypted for sensitive messages.The broker (IoT MQTT broker)then forwards the message to all things/services that subscribe to that topic.What are Lambda Functions?AWS Lambda is an event-driven computing platform that executes code on-demand. This feature enables serverless architectures for any application.A common way of triggering an AWS Lambda function is using rules through a topic. We previously mentioned the AWS IoT Rules Engine; we will use it as our tool to trigger rules from the MQTT broker. It’s a compelling way of decoupling the publishers and subscribers of messages and removes the need to poll for new messages.We’ll set a rule and subscribe a Lambda function to start/stop an EC2 instance every time a topic receives a message. This rule will also trigger an SNS topic to notify us by email.CloudFormationCloudFormation is an AWS tool that helps us set up a cloud infrastructure effortlessly. We define all the resources that AWS should build into a template document, click a button, and AWS magically creates everything.https://aws.amazon.com/cloudformation/We are going to use a template that will create our IoT Thing, configure the rules engine, create the Python Lambda functions and finally, set the related events, roles and policies.Let’s Build!The serverless architecture will handle the start and stop of an EC2 instance. This tutorial requires that you already have a working EC2 instance validator node with the polkadot client and configured with a systemd service. It remains as a separate component to this stack.We need an X.509 certificate and private key to establish a secure AWS IoT connection. For security reasons and following the best practices, we will not create it on CloudFormation.On the IoT Core console, go to Secure -> Certificates. Click on Create and select the recommended one-click option to create the certificate.Once done, download all of the certificates into your local workspace folder and click Activate.Don’t forget to download the general root certificate to authenticate the connection against AWS servers. A root CA for AWS IoT Download.https://docs.aws.amazon.com/iot/latest/developerguide/managing-device-certs.html#server-authenticationDownload or copy the next template into your local workspace folder. We will upload it to the CloudFormation console.https://medium.com/media/43fe2640b505bf9807192449f9321609/hrefBefore creating our ClourFormation stack, we need to get the IoT certificate ID and the EC2 instance ID.On the IoT Core console, go to Secure -> Certificates. Click on the certificate and copy the ID.From the EC2 instance console, copy your validator’s instance ID.It’s time to build our serverless infrastructure. Go to CloudFormation console and click on create stack.We will be asked to choose a template or upload one. Select the upload template option and use the BasicServerlessValidator.yml file that we previously stored on our local workspace.Fill in all the required fields (Stack Name, Certificate ID, Email, Instance ID).Click Next twice to skip the creation stack customization until you get to the create stack option. Tick the box to acknowledge the creation of IAM resources required for the roles and policies used by our serverless stack.Click on create stack and wait for creation completion.We have created our serverless cloud infrastructure. 🎉IMPORTANT: You need to verify that the triggers got registered in the Lambda function. It sometimes happens that due to a race condition on CloudFormation, they don’t appear on the Lambda function.To fix this, you only need to update the trigger event without changing anything. It will then appear on the Lambda function triggers. Repeat this step for the 3 IoT rules (ValidatorNodeDisconnected, ValidatorNodeStart, ValidatorNodeStop).After updating, you can verify that the trigger got registered on the Lambda function.Primary Validator NodeNow that we have ready our serverless cloud infrastructure. We need to establish the data connection between our validator node (Thing) and the AWS IoT gateway.Download or copy the next python script into your primary validator node.https://medium.com/media/c3b544359df8dd75144e9c6e18dff6fd/hrefInstall the required dependencies to use the Python script.$ python3 -m pip install AWSIoTPythonSDK pystemdWe need to replace the configuration parameters on the Python script with our certificate and private key files.In the IoT Core console, click on the Thing that we created “ValidatorNodeThing”. Select the Interact tab and copy the HTTPS IoT Rest API Endpoint address. Replace the host_name value with this address.E.g.- ‘host_name’: “a1yfesihws3xl1-ats.iot.eu-west-1.amazonaws.com”‘root_ca’: “/absolute-path-to-file/AmazonRootCA1.pem”‘private_key’:“/absolute-path-to-file/yourkeyid-private.pem.key”‘cert_file’:“/absolute-path-to-file/yourkeyid-certificate.pem.crt”For security reasons, AWS doesn’t use files with open permissions. Change file permissions to enable read only access.$ chmod 440 /path-to-downloaded-files/*Register Python script as a Linux systemd serviceOnce you have your Python script ready, next thing you’ll do is create a configuration file that tells systemd what we want it to do.$ sudo vi /lib/systemd/system/polkadot-node-iot.serviceThe file needs to have the following text (replace the path-to-script):[Unit]Description=Python script for the ValidatorNodeThing connection.After=multi-user.target[Service]Restart=alwaysExecStart=/usr/bin/python3 /path-to-script/BasicValidatorNode.py[Install]WantedBy=multi-user.targetUpdate file permissions to 644:$ sudo chmod 644 /lib/systemd/system/polkadot-node-iot.serviceConfigure systemd:$ sudo systemctl daemon-reloadEnable service autostart on boot:$ sudo systemctl enable polkadot-node-iot.serviceOur serverless failover solution is complete!! 🎊 🎉Every time that our primary node gets disconnected or the polkadot-validator.service goes down; our serverless infrastructure will take care of managing a secondary validator.Follow the Github repo for the latest work on more advanced solutions.Github: https://github.com/riusricardo/validator-failoverhttps://medium.com/media/3c851dac986ab6dbb2d1aaa91205a8eb/href📡 A serverless failover solution for Web 3.0 validator nodes 🤖 🔧 was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
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True Digital Age by Gavin Wood

Gavin Wood, the founder of Parity Technologies, a Polkadot developer and a co-founder of Ethereum, shares his thoughts on what is wrong with the existing Internet and why we need to move to Web 3.0

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XRP Spikes 10% on Ripple MoneyGram Partnership News

Big partnership announcements have been thin on the ground for many of the major crypto companies recently. That changed for Ripple a few hours ago when the firm announced a strategic partnership with one of the world’s largest money transfer companies, MoneyGram. XRP Climbs 15% in a Week Compared to bitcoin and litecoin, XRP has been asleep for the past two months. Even Ethereum has outperformed it in terms of percentage gains. That all changed a few hours ago when XRP awoke from its range bound channel at $0.42 and surged almost 10% to hit an intraday high just over $0.46. A minor pullback followed in the hours after the announcement but XRP is still one of the day’s top performers. XRP price 1 hour candles – Tradingview.com XRP 00 has climbed almost 15% over the past week as it was trading just under $0.40 this time last Tuesday. Daily volume has just topped $2 billion as XRP market capitalization approaches $20 billion. The gap to ETH in second place is still $10 billion in terms of market cap, however. It has been one of the best weeks for XRP in terms of gains as the Ripple token has only made 27% since the beginning of the year. Big Partnership Driving FOMO The San Francisco based firm announced the partnership on its company blog late last night. It stated that the initial partnership will last two years during which Ripple will become the key partner for MoneyGram’s cross border payments and foreign exchange settlements. A substantial capital commitment of $50 million has also been pledged by the blockchain company enabling MoneyGram to draw it over a two year period in exchange for equity. Ripple’s xRapid system will be deployed for the partnership. It facilitates on-demand liquidity enabling instant transactions by reducing reliance on pre-funding. The XRP token will be used as the ‘real-time bridge’ between different currencies. Ripple CEO, Brad Garlinghouse, stated; This strategic partnership will enable MoneyGram to greatly improve its operations and enable millions of people around the world to benefit from its improved efficiency. This is a huge milestone in helping to transform cross-border payments and I look forward to a long-term, very strategic partnership between our companies. MoneyGram has a $600 billion global remittance market supporting multiple currencies in more than 200 countries. Traditional forex markets requiring advance purchases are currently used for international transfers. The partnership and leverage of Ripple’s native token are expected to reduce costs and increase transfer speeds for the firm. Alex Holmes, MoneyGram Chairman and CEO, added; Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management. Will XRP hit $0.50 this week? Add your comments below. Images via Shutterstock, Tradingview.com The post XRP Spikes 10% on Ripple MoneyGram Partnership News appeared first on Bitcoinist.com.

XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms?

Ripple bought a share issue from MoneyGram worth $30 million at $4.10 per share to acquire 8-10% of the company. MoneyGram would also have an option of infusing another $20 million over the next two years. A strategic partnership will now ensue where Ripple will become the critical service provider for cross-border payment and foreign exchange settlement using digital assets. The digital asset they will be leveraging is Ripple, using Ripple’s xRapid Product. This partnership is a massive step towards the vision with which Ripple began, and investors put money is XRP. Also Read: Ripple Fathers’ Day Gift Propels It Past $0.4400 as Bulls Return Until now, MoneyGram has had to use banking services to provide settlements for payments they initiate. Due to the difference in time of settling payments, MoneyGram has to take loans to increase the required liquidity. However, by deploying xRapid, they will now be able to leverage XRP’s liquidity to provide cheaper and faster settlements. MoneyGram Chairman and CEO, Alex Holmes noted, “Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.” MoneyGram reported a net loss of $24 million in 2018 compared to a net loss of $29.8 million for the fourth quarter of 2017. The money transmitting service provider has been working towards developing, and 2019 will be part of the roadmap. Hence, the success of this strategic partnership is crucial for MoneyGram. Also Read: Bitcoin Vs Facebook Coin: Should Bitcoin Hodlers Care About Facebook Coin? Currently, MoneyGram works independently by leveraging money from banks. Ripple CEO Brad Garlinghouse told the media,  “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations,” XRP/USD 4-Hour Chart on Bitstamp (TradingView) Moreover, while XRP recorded gains around 5%, it rose from $0.43 to a reach high at $0.46. Notably, a partnership like this back in 2016 or 2017 would have likely propelled the price by 30%. This can be attributed to an apparent decrease in the use case for MoneyGram itself. Digital payment is quickly becoming more accessible than ever with major firms working on implementing or integrating digital currencies on their respective platforms. Facebook is the most prominent example of it. Do you think MoneyGram and Ripple will be able to increase their volume and user base in the current environment? Please share your views with us.  The post XRP Gains 5% as Ripple Forms Strategic Partnership with MoneyGram; Last Resorts for Both Firms? appeared first on Coingape.

Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

Ripple has secured another major partnership with international money transfer company MoneyGram. This will allow the company to use Ripple’s native token XRP to provide liquidity for international payments to MoneyGram customers. This is in a bid to enhance the speed and efficiency of the payment system that MoneyGram operates. In an interview with Fortune on the partnership, Ripple CEO Brad Garlinghouse said: “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations.” The partnership also gives Ripple an 8% to 10% stake in MoneyGram by paying $4.10 per share. This, however, does not give Ripple a voice in the dealings of MoneyGram for now as part of the agreement. MoneyGram, on the other hand, will have the opportunity of reviving its financial standing from Ripple’s investment which it direly needs after its share price crashed significantly.  It will also increase the efficiency of the payment platform, the management said. “We are very pleased with the terms of the Ripple investment which supports the Company with permanent capital and additional liquidity,” Larry Angelilli, chief financial officer of MoneyGram, said in a statement. “This partnership also provides MoneyGram with the opportunity to improve operating efficiencies and increase earnings and free cash flow,” Larry Angelilli, the chief financial officer of MoneyGram said. Ripple is the leader in remittance services as far as the blockchain industry is concerned. Its xRapid is second to none in terms of transaction efficiency and speed. With the new partnership, XRP which will be used for liquidity will be exposed to MoneyGram’s customers in over 200 countries globally. MoneyGram is the second largest provider of money transfer services in the world and while partnering with Ripple will ensure better service delivery to its customers, it is also a huge breakthrough for Ripple which has been looking to expand its reach further into the world. With hundreds of clients using Ripple’s payment platform, the company has grown significantly thus improving the international remittance settlement market by improving customer experience in conventional financial institutions. The post Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP appeared first on ZyCrypto.

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million

Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas MoneyGram, a global money transfer company, announced today it has entered into a strategic agreement with Ripple (XRP), the provider of enterprise blockchain solutions for cross-border payments. The deal will enable MoneyGram to utilize Ripple’s xRapid product, leveraging ripples (XRP) in foreign exchange settlement as part of MoneyGram’s global payment process With an initial term […] Ripple (XRP) enters key partnership with MoneyGram; invests $30 million - CryptoNinjas

Ripple Announces Game-Changing Partnership With MoneyGram

By CCN Markets: Ripple announced a partnership with money transfer giant MoneyGram today. Two Year Exclusive Agreement, Ripple and MoneyGram According to Ripple Labs, a two-year partnership has been struck with MoneyGram which makes Ripple its exclusive digital assets partner. The purview of Ripple’s use case here might be more limited than expected. It depends on how many of the transactions are sent and received using Ripple’s technology and how much they’re worth. Whatever the case, the partnership doesn’t, for example, mean that you’ll be able to buy and sell XRP at any MoneyGram location. Something along those lines would The post Ripple Announces Game-Changing Partnership With MoneyGram appeared first on CCN Markets
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