Ripple Plans to Build Crypto Bridge Between XRP and Ethereum (ETH)

hello folks you have reached the cryptocurrency portal and today we’re going to go over little information about ripple and let’s go through this together it says ripple plans to build crypto bridge between X R P and aetherium this has gotten a lot of play out there in the crypto space so let’s go through this together I have a couple articles that want to discuss with you says ripple says it’s looking to build a financial bridge between X RP and aetherium the company launched a series of challenges at the e theorem Denver to pay coders who can connect the two crypto currencies on the inter ledger protocol the ILP ILP was introduced by ripple in late 2015 and is designed to give companies an easy way to exchange currencies including both fiat and crypto assets according to ripples investment and development arm spring the company believes a rising tide will lift all boats that scenario makes creating an effective way to swap between two of the largest crypto currencies by market cap well worth the effort so here it let’s look at the quotes they have it says we believe that developers should be given a choice on how to solve their problems which is one of the reasons why we think interoperability is so important for crypto and blockchain technology to reach mainstream adoption we think XRP 2/8 and ERC 20 tokens bridge is important since x RP is one of the most liquid crypto currencies in the world but doesn’t have a a compute layer to support complex smart contracts for the growing decentralized finance defy market on aetherium now spring says it plans on working with increasing number of blockchain and crypto communities since its inception Spring has allocated five hundred million dollars worth of XRP to blockchain companies in an effort to grow the adoption of X RP and the industry at large so that’s kind of an overview but let’s get to this it says why ripple is funding a bridge to a theorem defy market so here’s the title to the three main bullet points the one is ripples launch initiative to build a bridge between XRP and Ethernet both – the project is funded by ripples development arm spring and bullet three and XRP eath bridge would provide access to smart contracts or defy on aetherium so again XRP and the etherium two of the largest cryptocurrencies by market cap could be linked in interoperable initiative to build a bridge between if ripple and aetherium launched at the eath denver last weekend I was funded by spring ripples development arm again Warren Paul Anderson senior project manager at ripple explains the reasons behind the initiative in a blog post published in the recently clearly the huge possibilities offered by a theory of lucrative market for decentralized finance D Phi are not lost on ripple so you can kind of see here spring sent out the tweet if you want to follow spring on Twitter you can see their handle is at spring which it’s X P RI and g DV spring dev curious at what ripple is doing a theorem Denver hint the bridge between X or P and aetherium and there’s their blog so if you want to check out their blog go to the spring Twitter page it says we think the XRP to eat and the ERC tokens bridge is important since x RP is one of the most liquid crypto currencies in the world but doesn’t have a computer to support complex smart contracts for the growing decentralized finance d phi market on ethereum e said spring is an open platform for open source software last weekend the developers at the eat Denver were set the challenges of connecting the two crypto currencies on ripples enter Ledyard ILP its protocol for connecting block chains the project will continue on development site get coin until the end of next week interoperability can be a solution to tribalism says Warren Paul Anderson so ripple is referred to by investopedia as a permissioned blockchain a tag which is large community hotly disputed late disputes nevertheless building bridges with ripple won’t suit everyone in the etherium community where many prioritized decentralization however one school of thought holds a ripples ultra-fast transaction speeds would offer the scalability solution a theorem is desperate for Anderson sought to address developers qualms via his blog interoperability can be a solution to tribalism he added that theorems ambition to attract 1 million developers would be enhanced by pulling effort and resources and working together who are appropriate breaching XRP with eath is not the extent of ripples ambitions and since it launched in May of 2018 Spring has pumped 500 million dollars in XRP into the industry at large in an effort to boost adoption and interoperability so there’s a little background of what they’re trying to accomplish so it’s obviously new will kind of continue to follow this through the whole kind of development process let me know what you think in the comment section below what you think of this initiative that ripple in aetherium are doing so let me know what you think and if you see other information about this let me know alright so we continue in just a ripple since we’re talking about it with the last two articles ripple launches new XRP fraud reporting procedure here’s the rundown to bullets fraud can’t be reported but funds not reversed and bullet-tooth ripples pushing to become leader in financial space so the company ripple has created a page on its website where foul play can be reported this remove represents the increasing attempts by ripple to establish itself as a key player in global finance and and I’m sure behind the scenes as they’re talking to regulators this will look good in the eyes of regulators where they’re showing a way to show fraud because it’s a lot what a lot of the regulars are saying because of all the alleged illegal activity that happens in the crypto space they don’t like that it’s because they think it’s a haven for illicit activities I think there’s there’s our own issues with that statement because illegal activities happen with cash anyway but I think through their discussions with the regulators I’m certain this comes up and say hey we have a way where people can report it alright fraud can be reported but funds not reversed the reporting website gives consumers the ability to make the company aware of fraud behavior involving the XRP token and this behavior could include thefts and scams or unauthorized gateway exchanges the site makes clear the ripple cannot reverse transactions owing to the decentralized XRP ledger all also XRP users are not ripple customers thus an unusual activity report can be used to help identify and stop fraud but not necessary compensate victims interestingly ripple encourages users to report potential sanctions violations money laundering unauthorized transactions and/or other financial crime in other words it calls on ripple community to self police and inform the company of possible illegal activity this facts underscores the close relationship between ripple and XRP use and the company’s firm desire to prevent any foul play with the token ripple is pushing to become the leader in financial space this move is the latest in a series by ripple and its goal of becoming a key player in global finance the company has long asserted that it has major plans for expansion and CEO Brad garland House recently compared the company to Amazon and noted that moving forward it would explore other services besides cross-border Fiat transfers and to achieve its goals Ripa will need cooperation from regulators politicians and law enforcement on a scale yet to be seen in the blockchain sector and in this context opening up a tool for fraud reporting and demonstrating a strong willingness to fight crime there’s a sensible move and I agree with that importantly ripple has not drawn the ire of the leaders that it needs to win over for example unlike Facebook’s Libra which has been met with a torrent of opposition from world leaders ripple has received almost none despite being just as disruptive Ripple’s position is however controversial among crypto advocates because many blockchain purists have long criticized the company for its willingness to work with banks and regulators asserting that the technology is designed to replace these institutions not complement them and ripple and its executives disagree claim that cryptocurrency can only achieve mainstream use if it cooperates and enhances the existing financial infrastructure and regardless what one thinks of ripples vision its success in the blockchain space is without dispute and now counts over 300 banks as partners and experienced over 500,000 percent growth in the fourth quarter of last year on top of that I did a video of a couple months back because ripple got an infusion of 200 million dollars in capital and seriousiy venture capital funds valuing the company at 10 billion dollars so what I’ll do is I’m gonna link in the comment section below and link to that video that I did because if it goes nicely with what it just said here about the the expansion that ripple has alright so continuing along just you know the use cases for ripple ripple reveals 54 million dollars in XRP remittances sent from the United States to Mexico in one week Wow so ripple says it’s now pushing significant volume on one of the largest remittance corridors in the world in a new interview on CNN’s first move ripple CEO Brad Garlin house says the company’s XRP remittance platform process 54 million dollars worth of transactions from the United States to Mexico in the first week of February and last week we did fifty-four million dollars of XRP flows in New Mexico that’s seven point five percent of all flows from the US dollar to Mexican peso and that’s up three percent in December so this is growing very quickly according to garland house the rapid growth is a sign that ripple is solving a problem that benefits the everyday customer and his quote is you have to focus on a real problem a real customer and drive that utility with 7.5 percent of liquidity in New Mexico are being driven through XRP you start to realize the really see that is not a science experiment in ripple partnered with a mexican based crypto exchange bit so to facilitate XRP settlements into the country and the exchange is now processing 10% of money Graham’s flows in New Mexico using XRP a bit so Senor Emilio Rivera Coelho says the cryptocurrency can settle transactions in a matter of seconds while reducing fees by 2.8 3% to as much as to as much as five point six two percent and the quote is in the last couple of months bit so has seen an exponential growth in the volume of remittances sent from the United States to Mexico and by leveraging the technology of a cryptocurrency exchange that so is able to provide other financial institutions with on-demand liquidity for global payments and this allows the transactions to be sitting less than 90 seconds which is profoundly less time than the three to five days it takes the traditional methods so it’s becoming a lot more efficient so since we’re talking about cross-border payments there in Mexico this one was interesting to me says 50 million extra piece sent between large crypto exchanges Japanese bit Bank is involved so over the last couple of days 50 million in xrp has been moved between three large trading platforms and the Japanese bit bank which some assume may join a new O’Neill corridor or on-demand liquidity corridor soon according to the XR PL monitor bot it has reported several massive XRP transactions that total 50 million x RP so ripples milestones in 2020 so far this year ripple has already made a few major moves as Brad garland houses mentioning possible IPO this year though later he stayed was just largely misunderstood in Brad Garland house getting featured an interview with CNN’s Julia Chatterley for the second time that was a good interview so find that on Twitter she did a good job interviewing him he gave some you know interesting nuggets in there this may suggest that ripples the only cryptocurrency so far that has had the interest of the outside company alright so just continue along here and here’s the last article I want to go over with you today says cripple makes it to the top 100 cross-border payment companies the San francisco-based blockchain company ripple has been recognized as one of the most prominent players in the cross-border payments industry by the financial data company XC intelligence making the cut ripple is the only crypto related company that made the top 100 and the list was divided into several sections that feature the world’s largest banks such as Bank of America Deutsche Bank City UBS as well as large publicly traded such as visa and PayPal many of the names that appeared are on the lists are actually partners with ripple the most salient examples are monogram and transfer go so here’s you can kind of oversee I’m not going to go through all hundred of course but you can kind of see their logos here and ripples on here so that’s the latest with the cryptocurrency portal let me know in the comments section below what you think of ripple and XRP in general I love to get a discussion going in the crypto space I always respond to all the comments and if you liked this video please smash that thumbs up button really helps out the channel helps out both those Google and YouTube algorithms and all that so I’d really appreciate it and if you’re already subscribed to the channel thank you very much I appreciate it if you’re not a subscriber yet hopefully you’ve earned some value here and I would be honored with your subscription to the channel so thank you again for tuning in to the cryptocurrency portal and I’ll talk to you real soon [Music] you

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