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Breaking: XRP Price Predicted to Rise as Binance Plans to Partner with Ripple

  • Jack Thomas
    🤷 Opinions

    Binance CEO Changpeng Zhao says they will definitely partner with Ripple to boost its XRP-powered xRapid.


Breaking: XRP Price Predicted to Rise as Binance Plans to Partner with Ripple
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Speaking in his first ever live stream, Binance CEO Changpeng Zhao has said that the leading cryptocurrency exchange will definitely partner with Ripple to boost its XRP-powered xRapid in the future.

It is still in the early days for this potential partnership, with this only being the first signs of a partnership and there being no signs of any details coming forward from any side. But it is hugely promising for Ripple and their payment solution, which is gaining its own traction in banking institutions.


However, even though there is nothing solid yet from the two, Binance is already helping boost liquidity for xRapid by partnering with crypto exchanges Bittrex, Bitso, Coins.ph and Bitstamp. These exchanges make it possible for financial institutions to convert their local currency to XRP and send the digital asset to another country, where it’s immediately converted back to fiat.

We’re focused on launching more features right now, so we are working with a number of other partners. With xRapid, there’s nothing going on right now, but in the future we’ll definitely want to add them as a partner Zhao said on Periscope

A boost for xRapid is a boost for XRP

While XRP is the native token from Ripple, its major product aimed at financial institutions is currently xRapid. Ripple developed xRapid to be a regulatory-compliant way for international companies to move money without having to park fiat in bank accounts around the world.

It is the product they are basing most of their partnerships with banks on, and a big boost would be if an exchange like Binance came on board from the crypto-side of things.

If this partnership was to go ahead, there would no doubt be a huge boost for XRP in terms of its price as Binance is a leading cryptocurrency exchange that has a lot of sway in the ecosystem; thus, many would see it legitimizing XRP somewhat.

XRP and Ripple have come under scrutiny from the cryptocurrency community in the past because of their more traditional and institutionalized way of doing things, often labeled as centralised.

However, Binance would allow greater input from the community and cause a demand for the token, which would further distribute it and increase the level of decentralisation.

Cover image via u.today
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Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology

  • Darryn Pollock
    🤷 Opinions

    Blockchain adoption by billion dollar companies is probably a lot further along than expected as Forbes has revealed


Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology
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Contents

Forbes has recently released a list of 50 companies utilizing blockchain technology that are valued at over a billion dollars, these companies include the likes of Amazon, Microsoft, IBM, as well as less technical ones such as BP and Walmart.

What is surprising about the list is just how broad the scope of interest is when it comes to blockchain by these massive global companies. The adoption of blockchain, over the last 10 years, has been relatively slow, up until now.


But, in 2019, it seems that the future of technology has been laid out and to get a competitive edge these companies realise that there is a lot that can be done with blockchain and that they need to get their foot in the door.

Heavy hitters

While the Forbes list paints a grand picture of blockchain adoption, it also shows just how far along in the process some of these companies are. For companies to have made it onto the list, they have to have been using blockchain in some sort of effective and tangible way.

There are some, like insurance giant MetLife, which already has a working blockchain, and product, that has been going since 2014. Back then, the adoption of blockchain by major companies was not even heard of – it was more about the starting boom of Bitcoin.

But blockchain is the new leader in the space, taking over the batton from cryptocurrencies which certainly helped raise the profile of the entire ecosystem. If it was not for the cryptocurrency boom, a lot of these major companies would never even have stumbled across the underlying technology.

A drive for blockchain

Now, with the cryptocurrency market right back down again, and a lot of the speculation having been cleared out, there has been a whole year of rather focusing in on blockchain building and its application, instead of making money off speculative tokens.

That change in mindset has really helped major corporations take on the technology and begin experimenting with its efficiency and disruptive powers. There is almost an arms race going on as the advantages the technology can give across a huge spectrum of enterprises, which are massive and very coveted.

A need for enterprise investment

There still remains a debate as to whether blockchain, and crypto, with its decentralised nature, is in need of these major corporations coming in to monopolise the space which was born out of defiance of banks.

However, it would be foolish to think that blockchain can reach its full potential without a drive from big companies with big budgets. Smaller startups and companies are able to bring innovation and excitement to the space, but the mass adoption will only come when the heavy hitters are involved.

Cover image via 123rf.com
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