He has shed adequate light on the role of Ripple'sXRP to "bridge" the gap between two or more currencies, thereby, speeding up transactions conducted by the banking institutions and the payment providers. It is usually not now possible to buy alternative cryptocurrencies such as XRP directly using U.S. dollars.
While speaking to CNBC, the executive said he was confident that in the next month or so, supporters should expect good news as the company prepares to launch live production of xRapid.
The company says that 100+ banks are already using its xCurrent blockchain-based payments tracking system to settle global transactions, and earlier in the year the company provided the technology behind for Santander's One Pay FX consumer-facing cross-border payments app. For this reason, the company has gearing up building an ecosystem around the use of xRapid and XRP.
Sarbhai said the regulatory environment for blockchain and cryptocurrency technology was improving, with financial watchdogs starting to see the benefits of crypto. For example, a bank may execute a transaction from the USA dollars to Indian rupees. This process needs pre-funded local currency accounts in order to take place. However, with the xRapid in place, Ripple profusely said in its statement that the process would be speeded up by converting the US dollars into XRP tokens, and thereafter the money overseas will be converting back into Indian rupee at the other end. Investors seeking to trade XRP should first buy Ethereum or Bitcoin using an exchange that deals in USA dollars such as Gemini, Coinbase or GDAX.
Blockchain startup Ripple is expected to introduce a commercial application based on the cryptocurrency in the days to come as per the valid source of CNBC.
Over 40 killed as MV Nyerere capsizes in Lake Victoria
John Mongella, the commissioner of Mwanza, said 37 people were rescued but those efforts were suspended until daybreak Friday. No casualty numbers have been given but a local media had reported that five people died and 102 rescued.
Rather than banks trialling the product, firms such as money transfer giants MoneyGram and Western Union have done so instead.
While the corporate world has often struggled to embrace even the concept of cryptocurrency, based off years of negative press pertaining to illicit "dark web" transactions, not to mention volatility within the digital currency market, Ripple has been embraced by big business and banking from day one, who see XRP as less of a currency and more of a technological tool.
Another factor that could increase the value of the coin is the latest statements of the CEO of Ripple - Brad Garlinghouse, that a lot of banks will be utilizing the products of Ripple by 2019.
He stated that the narrative of crypto a few years ago was good in terms of the blockchain, but bad regarding crypto. "What we're now seeing is more and more regulators, policymakers taking the whole space in one conjunction", he said. He has commented, "So, I think that narrative thankfully is now changing because policymakers, regulators are seeing that there is a strong benefit that digital assets, cryptocurrencies bring in." .
Officers were going door-to-door along the river in Brunswick County, North Carolina encouraging residents to evacuate. At least 37 people have died in three states because of the storm; 24 of those died in vehicles, the AP reports .
He was accused of stealing a camera from a woman and sending threatening text messages to Straight Outta Compton director F. Previously, Knight had been sentenced to five years' probation after pleading no contest to assaulting two rappers in 1995.
That man just had a baby with her. "It just don't sit right with me and I have to express that with you", West concluded. Now I done told you I didn't tell Pusha no information about your baby, baby mother, nothing like that.
She said of the alleged Kavanaugh assault back in their 1980s high school days, "I thought he might inadvertently kill me". And after Hill's allegations were leaked publicly, he wrote, "we did not ask the FBI to conduct an investigation".
The Texas mayor noted she had followed all the requirements for hunting the alligator, as outlined by state law, NBC News noted. Cochran plans to mount its head and tail in her office, make boots from its hide and eat the meat, she said.
Although Kim had concerns about connecting with little Chicago, all of those fears washed away the day her baby girl arrived. Kim went on The Ellen Show before Chicago was born to talk baby names. "I think it was so an incredible experience".
The NHL's Department of Player Safety made the announcement Thursday following an afternoon hearing with Domi. To blame Ekblad for being sucker punched is like saying you should have studied for a Pop Quiz in high school.
Her claims left some former Liberal colleagues flabbergasted that she had to leave the party in order to criticize it. The 50-year-old Alleslev is a bona fide score for the Conservatives, and her departure a huge blow to the Liberals.
KISS have announced what will supposedly be their final farewell tour , and it's shaping up to be a massive, worldwide affair. Here are five things we'd love to see happen when the hottest band in the world takes the stage for the last time.
Yes, its that flu shot time of year again
A 2007 CDC study found that the flu vaccination significantly reduced a child's risk of dying from influenza. Flu season tends to peak in colder months, when kids are indoors coughing on each other.
Google has accidentally launched a test function
Google eventually admitted that it was an experimental feature that was accidentally rolled out to more users than intended. This meant that some users were unable to receive notifications or to access automatic location-based features.
Ubisoft Details Assassin's Creed Odyssey Post Launch Content
This actually isn't the first Assassin's Creed-themed board game, as Cryptozoic produced Assassin's Creed : Arena back in 2014. On October 5 and 6, Metcalfe Park in Sydney will be transformed into a full-size Assassin's Creed Odyssey parkour course.
North Korea Pledges To Close Nuclear Missile Site
A longer route to peace is not ideal, but as long as North and South Korea stay friendly, nuclear warheads won't fly. It's unclear whether Moon will speak to reporters after his arriving in South Korea on Thursday.
Kanye West Claims He's 'Moving Back to Chicago'
The track West references may be Drake and Future's unreleased song "Kylie/Kendall" that Future posted to his Snapchat last March. I guess we won't be seeing a Kim and Kanye take Chicago spinoff any time soon.