JetPay

IoV

by Ken Carabello for JetPay

Just think! you'll be able to go anywhere, or be anywhere. And you won't have to worry about having cash on you. All you'll need is your mobile device. And if you decide to go to the beach? Hey, lock your mobile in your hotel room safe. Then swim away! When you get back to your hotel and retrieve your phone, everything you need to move about freely in a cashless world will be in the palm of your hand.

Aside from mobility, another benefit of the cashless society that's coming (and is partly already here), is transaction speed. Time is money. It is also the scarcest resource there is. Once it's gone, you never get it back. It is therefore far too precious to waste, waiting for a slow e-currency transaction to go through.

Say you want to send money from your crypto exchange wallet to your mobile spending wallet. If you do it with XRP, it takes only 4 seconds. And it costs almost nothing. This is thanks to Ripple, the company behind XRP, and the lightning fast transaction technology that they have in place – namely RippleNet.

Ripple's technology is so effective in fact, that more and more banks and governments have been adopting the technology. Soon, XRP will be a ubiquitous form of exchange. And with the onset of satellite internet, you'll be able to transfer and receive XRP anywhere on the planet.

So by all means, take a dip. You deserve it. And rest easy knowing that XRP and RippleNet technology have you covered. Soon, you won't need cash at all.

https://youtu.be/0O5SxCxiwh8

#xrp #ripple #ripplenet #payid #cashless #society #crypto #cryptocurrency #blockchain #mobilepayments #IoV #xrparmy

by Ken Carabello for JetPay.cloud

This week, Ripple held a live streamed event called UBRI Connect. UBRI is Ripple's University Blockchain Research Initiative. UBRI is an effort started by Ripple, to collaborate with leading universities around the world, with the aim of accelerating academic research, technological development and innovation in blockchain, cryptocurrency and digital payments.

UBRI Connect was streamed on Ripple's YouTube Channel. And while there were several videos that comprised the entire event, we have zeroed in on this one. Since it covers digital payments, and the issues we still face in bringing the Internet of Value to fruition.

It is a lengthy video. And many speakers were featured. The information pertinent to this article begins at 1:37:30. This is where Ripple's Chief Technology Officer, David Schwartz is speaking about digital payments and the Internet of Value.

https://www.youtube.com/watch?v=l_7Bc6evS_M

Among the Key factors that Schwartz cites as necessary to link the digital payments landscape in a viable way are: interoperability, and common namespace. Both of these, he says, are necessary in order for digital payments to work seamlessly, and for the Internet of Value to reach a level of functionality comparable to sending and receiving emails.

On Interoperability, David Schwartz indicates that we are not there yet. Many networks still do not communicate with each other. And until these gaps between networks are adequately bridged, a significant impasse on the road to the global Internet of Value will remain in place. However, Schwartz says there has been significant progress made toward solving the namespace issue. And he goes on to cite payID as a catalyst.

PayID is a universal namespace for payments. It was developed by Ripple, and brought forth in cooperation with the Open Payments Coalition. The Open Payments Coalition is a group of companies that support payID for transactions. There are currently 48 members – which amounts to 48 steps toward interoperability. There are also currently 125 million payID users. So the word is spreading fast. Ripple and the OPC only rolled out payID 3 months ago (at the end of June 2020).

PayID is an open source platform that is maintained by payID.org, a team of coders on which members of Ripple play a significant part. Yet while payID goes far in breaking down the namespace barrier, says David Schwartz, without key improvements in Interoperability, we are still nowhere near where we need to be if we want to see an Internet of Value that runs smoothly.

Hopefully, the brilliant minds that participate in Ripple's University Blockchain Research Initiative (UBRI) will continue to innovate. And new modes of interoperability will soon emerge. Though the Internet of Value may seem just out of reach, you should view things from a chronological perspective.

Consider how far we've come with blockchain, crypto, and mobile payments in just the last three years. Remember that technology and innovation keep on moving faster and faster (who uses dvd's anymore?!). It is through this lens, that you realize, the Internet of Value is right around the corner. We'll be there in no time!

https://www.youtube.com/watch?v=_mchn58NOmE

#xrp #payid #Interoperability #davidschwartz #ripple #IoV#runsonxrp #xrpcommunity #zerodoubt

© 2020 PayID.cloud

by Ken Carabello for JetPay.cloud

Anybody who follows XRP and crypto in general, knows that the Ripple token is hugely undervalued. It's so obvious, it almost seems as if there's a concerted effort underway to keep the price of XRP depressed for as long as possible. Probably so the group of people behind this concerted effort can stock up on as much XRP as they can before the price explodes. When you compare the performance specifications of XRP to Bitcoin (BTC) and Ethereum (ETH), there is no disputing the fact that XRP is the only coin that makes sense as a vehicle for online payments.

Let's look at 3 key factors – Transactions Per Second (TPS), Transaction Cost, and Settlement Speed. Upon evaluating these criteria, we'll be able to see how each coin measures up. And you will be able to decide for yourself, which coin has the most value in the area of Global payments.

Transactions Per Second – XRP handles 1500 TPS out of the box. And according to Brad Garlinghouse, CEO of Ripple, XRP is scaleable to 50,000 TPS. Compare that with BTC (15 TPS), and ETH (6 TPS). Is there any question why more and more banks are signing on with Ripplenet (#runsonxrp) as the platform of choice to move institutional-sized sums of money around the world?!

Transaction Cost - Compared side by side, if a given transaction costs $10 to perform with BTC, and $4 to perform with ETH, that same transaction would probably cost around $0.25 using XRP.

As you can see, when it comes to sending money, XRP offers a huge cost savings advantage over Bitcoin and Ethereum. XRP was designed with payments of all sizes in mind. BTC and ETH were not. And while each coin may be ideal for a distinct purpose, XRP is clearly the choice, where large-scale and/or frequent banking transactions are concerned. Banks know that at this point. As a result, one by one, they are falling in line to utilize #ripplenet.

Settlement Speed - On average, a BTC transaction can take up to an hour (or longer) to settle. ETH transactions typically take 5 minutes on average. Compare these figures with XRP's average settlement speed of 4 seconds. And again the choice is obvious. Time is money. It's as simple as that.

Bitcoin has its purpose; perhaps to remain as the “digital gold” store of value (at least for a time). And Ethereum gave the crypto community smart contracts. This was a game changer for sure. All three of these coins have value. The irony however, is that although XRP is the standout performer of the three, in what is probably the most significant area concerning the Internet of Value – bank transactions, it is also the most heavily undervalued.

As an anecdote, consider the fact that when gold was banned in 1933 by Executive Order 6102, people effectively had their gold confiscated. Then in 1934, when the Establishment was content that they had sufficiently stripped the masses of gold ownership, President Franklin D. Roosevelt raised the price of gold from $20.67 to $35 simply by declaring it so (that works out to an instant ROI of 72.5%), with a wave of his magic wand! The subsequent Gold Reserve Act of 1934 is what allowed him to do this. I can't help but see a similar dynamic surrounding XRP.

There's something big going on. All the signs are there. HODL your XRP! Don't sell it. And if you don't have a Nano Ledger already, get one as soon as you can. Move your XRP off of exchanges. And wait just a little longer. You'll be glad you did. The price of XRP must rise. And soon. It's simple logic.

https://www.youtube.com/watch?v=_mchn58NOmE

#xrp #ripple #ripplenet #globalpayments #payid #crypto #mobilepayments #cryptocurrency #blockchain #IoV #zerodoubt

© 2020 payid.cloud