Ripple, one of the most discussed and innovative cryptocurrencies in recent years, is rapidly gaining popularity in the world of digital finance. Unlike Bitcoin, Ripple does not aim to replace traditional currencies, but rather to revolutionize the international payments industry. He’s doing it with acquisitions and expansions.
Ripple is a real-time funds transfer system, a network for currency exchanges and remittances, created in 2012 by Ripple Labs, at the time OpenCoin. The system name is Ripple Transaction Protocol, RTXP
Ripple’s defining feature is its payment protocol, known as the XRP Ledger, which enables fast, low-cost transactions on a global scale. This system is particularly attractive for banks and financial institutions seeking to improve the efficiency of their cross-border payments.
Another key aspect of Ripple is its native cryptocurrency, XRP. This digital currency can be used to facilitate transactions on XRP Ledger and can also be traded on various cryptocurrency platforms. Its almost instant transaction speed and minimal costs make it a promising choice for international money transfers.
Like many other crypto companies, Ripple had to clash with SEC. In two out of three cases, however, the transfer of funds system prevailed.
Ripple is playing an increasingly important role in the cryptocurrency industry, aiming to revolutionize global payments through its advanced technology and XRP. It has recently been the focus of attention thanks to its initiative known as the University Blockchain Research Initiative (UBRI). The novelty regards the involvement of four new European university institutions, with a total financing of 11 million dollars distributed over the last five years.
In addition, the acquisition by Ripple of Fortress Trust, a financial institution that provides financial, regulatory and technological infrastructure Web3 and blockchain.
Prior to this market transaction, the company had purchased for 250 million dollars Metaco, crypto custody service provider. With these acquisitions Ripple would be aiming to obtain regulatory licenses in several countries around the world. With Fortress Trust has managed to expand in Nevada, while, thanks to its previous associations owns over 30 licenses in the USA, including New York and outside the American continent holds the license Major Payment Institution in-principle by the Monetary Authority of Singapore, the central bank of the country.
Ripple also carries out a fight in favor of eco-sustainability, a topic strongly debated in the crypto field and that is often countered when talking about Bitcoin. This struggle also involved key figures related to Ripple, such as Chris Larsen, who supported third-party causes financially. One example is Greenpeace USA’s "Change the Code" campaign.
However, this campaign did not gain much sympathy for the Ripple group. Although Ripple is actually environmentally conscious, the idea of replacing the Bitcoin consensus mechanism must be seen as a marketing move rather than an essential part of Ripple’s business. Fortunately, this idea is not what really defines Ripple’s core business.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
Ripple (XRP) continues its expansion into the crypto industry, acquiring the Fortress Trust, a financial institution that provides financial, regulatory and technological infrastructure Web3 licensed for blockchain innovators. The importance of this acquisition also lies in the fact that Fortress Trust owns a Nevada Trust license.
Specifically, the new company acquired by Ripple also provides a critical infrastructure to address the growing business cryptocurrency market. These solutions integrate with Ripple’s product and business roadmap.
SOURCE: Cryptonomist
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
Coinbase launched in India on April 7, 2022, but it halted payment services via the United Payments Interface (UPI) on April 11, 2022, in response to pressure from local regulators. However, at the time of publication, Coinbase’s Indian users are only able to exchange cryptos in their accounts. After a few months, the exchange clarified its plan to cease Indian operations amid spreading news. Techcrunch and Economic Times reported Coinbase India's emails instructing users to withdraw funds by September 25 due to service discontinuation.
The news was picked up on X by Wu Blochain.
“Coinbase said in an email that it would stop providing all trading services to users in India after September 25 and advised users to withdraw all funds in their accounts. Additionally, Coinbase has banned Indian users from registering on the exchange, advising them to download Coinbase Wallet instead. Coinbase has long faced regulatory pressure in India, prompting the departure of at least two top executives”.
Later, they discovered that the warning didn't apply to all Indian customers but to those who had violated exchange standards. This is stated in the communiqué shared by a spokesman of Coinbase with Cointelegraph.
"It is possible that during the recent routine review of our systems, some accounts that no longer meet our updated standards have been identified. Therefore, we will disable these accounts and allow customers to update their information later. Please note that this has no impact on your access/use of Coinbase Cloud services, which will continue to be accessible through your account".
SOURCE: Cointelegraph
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Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
El Salvador, a small nation in Central America, made history by becoming the first country in the world to adopt a cryptocurrency as legal tender. On September 7, 2021, the Legislative Assembly of El Salvador approved the "Bitcoin Law," which made Bitcoin (BTC) an accepted medium of payment at all economic levels. And now launched a project aimed at training teachers on the topic Bitcoin
He sees cryptocurrencies as an opportunity to promote financial inclusion and stimulate economic growth. For decades, El Salvador has faced challenges of limited financial inclusion, with a significant portion of the population excluded from traditional banking services. The adoption of Bitcoin as legal tender aims to improve access to financial services and promote technological innovation in the country.
However, this decision has not been without controversy. Many cryptocurrency experts and economists have raised concerns about the volatility of Bitcoin and the potential risks to El Salvador's financial stability. Following the announcement of Bitcoin's adoption as legal tender, the value of BTC plummeted, causing uncertainty among the Salvadoran population.
Despite the concerns, the government of El Salvador has taken measures to mitigate the negative effects of cryptocurrency volatility. They have created the "Chivo Wallet," a mobile application that enables citizens to transact in Bitcoin and automatically convert cryptocurrencies into US dollars. Additionally, the government has established a $150 million fund to provide insurance coverage for businesses that accept Bitcoin as a form of payment.
Furthermore, on January 11, 2023, with 62 votes in favor and 16 against, El Salvador approved the "Volcano Bond," a law that provides the legal framework for the issuance of a bond backed by Bitcoin. According to crypto exchange Bitfinex, the purpose of the bond is to help the country:
The name of the bond is derived from the location where Bitcoin City will be built near the Conchagua volcano, which will harness geothermal energy to power the crypto-mining hub. The law not only pertains to Bitcoin but also applies to other digital assets. Additionally, it includes regulations on bonds and reforms related to security and protection against scams.
Following the January law, the Latin American country took a further step forward by appointing Dr. Saifedean Ammous, author of the book "The Bitcoin Standard," as an economic advisor to the National Bitcoin Office of El Salvador. The Austrian economist joined the team as a consultant on economic policy matters.
The adoption of Bitcoin as legal tender has also led to increased interest in cryptocurrencies worldwide. Some countries have begun considering the idea of adopting similar cryptocurrencies, while crypto businesses are exploring investment and expansion opportunities in the Salvadoran market.
Despite initial challenges and uncertainties, El Salvador remains committed to promoting the use of cryptocurrencies as a tool for financial inclusion and economic growth. And not only has it inspired other countries, it has also convinced many companies to invest in their country’s cryptocurrency.
The recent challenges posed by high fees on blockchain transactions, in fact, have not stopped Bitcoin Fold, a bitcoin rewards company, to open an office in El Salvador. This expansion marks the recognition of the region’s potential within cryptocurrencies.
Not content with the already numerous advances made to tie the country to the crypto economy, on the second anniversary of the so-called Bitcoin Law the Ministry of Education of El Salvador announced that it has launched a pilot program "which could bring Bitcoin education to every school in the country in 2024."
The program launched with the support of the projects "My First Bitcoin" (Mi Primer Bitcoin) and "Bitcoin Beach", plans to train 150 public school teachers on the topic Bitcoin. These teachers will return to their schools across the country to pass on the knowledge to the students.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
Ethereum, the blockchain platform that is transforming our world, has taken a further step towards a future where possibilities are endless and boundaries are pushed further and further. The platform created and marketed 50 smartphones, equipped with the operating system ethos that were sold in just 24 hours.
Ethereum is one of the most extraordinary innovations in the world of technology and finance in recent years. Founded by Vitalik Buterin in 2015, Ethereum is a decentralized blockchain platform that has greatly expanded the original concept of blockchain, introducing capabilities and capabilities that go far beyond the simple exchange of cryptocurrencies.
Among the latest innovations launched on the market is the operating system based on blockchain ethos.
ethos is a specialized operating system designed specifically to simplify the mining of cryptocurrencies Ethereum. With an intuitive user interface and a host of advanced features, ethos has become an indispensable tool for cryptocurrency miners around the world. Here is an analysis of its main features:
ethos is designed to be easily managed remotely. You can control and monitor your mining rigs from anywhere using an internet connection. This feature is especially useful for users who manage multiple devices.
To install and configure the operating system just create a boot image, put it in the mining rig and boot the system. ethos is preconfigured for mining ethereum and other popular cryptocurrencies, so no complicated setup is required.
ethos offers a number of real-time performance monitoring tools. You can keep an eye on the temperature of the graphics cards, power consumption and mining statistics. This allows you to optimize operations to maximize performance and reduce the risk of overheating.
To get the most out of graphics cards, ethos offers the ability to overclock securely. It allows you to adjust the power of the GPUs to get a higher hash rate, but ethos also warns you of the potential risks of overheating to avoid hardware damage.
ethos supports the mining of different cryptocurrencies, allowing you to vary the mining activity according to market conditions. You can easily switch from Ethereum to other coins like Zcash or Monero without having to reinstall the operating system.
As a further move Ethereum decided to market a smartphone already equipped with the operating system ethos. These are 50 devices, "Ethereum Phone" based on the Google Pixel 7 customized. These devices incorporate a lightweight Ethereum client, allowing the ethos to independently validate blocks and thus help turn the phone into a lightweight node within the blockchain platform network.
In order to purchase one of the 50 devices available in advance, buyers had to obtain a non fungible ethos token, which was later destroyed to book the phone.
The success of the pre-sale was such that some of these tokens ethos not fungible (NFT) were sold on OpenSea at a value of 3 ETH, corresponding to about 5,000 dollars, ten times the price of a Google Pixel 7a standard sold at 499 dollars in the United States. Of course there was no lack of scam attempts.
It is a remarkable success, that position Ethereum Phone in the third step of the podium in the ranking of Web3 smartphones. Only MetaVertu and Solana lead with Saga.
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
Lights are shining for the second edition of the Detroit Month of Design, a promising event set to capture everyone's imagination. This year, the Consulate of Italy in Detroit and the Dante Alighieri Society of Michigan proudly present the "LoveITDetroit" project. More remarkably, it won the Ministry of Foreign Affairs competition for the "City of Italian Creativity Worldwide." It offers innovation, sustainability, a dedicated installation, 12 must-attend sector-specific events, and an engaging metaverse. Don't miss the magic of the "Fashion Panorama - The Italian New Wave" exhibition, created in collaboration with Vogue Italy.
From September 1st to 30th, a creative oasis opens to all at 1001 Woodward Ave, in the heart of Campus Martius, voted this year as the best square in the United States. The installation is open from 11 am to 6 pm, offering access to a world of innovation and design.
This unique space will host no fewer than 12 live events, spanning from sustainable mobility to fashion, aerospace to wine, opera to cinema, with prominent speakers both local and from Italy. On September 1st, the Detroit Month of Design kicks off, a tribute to the city's uniqueness as the only city in America with the UNESCO title of "City of Design."
In celebration of this, the Consulate of Italy in Detroit, represented by Consul Allegra Baistrocchi, has reaffirmed Ludovica Serafini and Roberto Palomba as Ambassadors of Italian Design in the World and curators of the physical exhibition. The 2023 edition of LoveITDetroit aims to capture international attention, elevating the essence of Made in Italy. The installation emphasizes Italian companies' sustainability commitment, merging tradition with a greener future, showcasing design's transformative power. Get ready for a month of extraordinary design where art, culture, and innovation converge.
This year, Italian design in Detroit merges the physical and virtual worlds in a captivating celebration. The metaverse hosts a captivating exhibition by Wedoo, set in Ludovica and Roberto Palomba's unique space design. LoveITDetroit 3.0 surpasses earlier versions, exploring beyond Made in Italy (1.0) and the Rome Modern Art Gallery exhibit (2.0). Now, we present "Fashion Panorama - The Italian New Wave," a project by the Ministry of Foreign Affairs and International Cooperation in collaboration with Vogue Italy.
Showcasing modern Italian fashion via 10 innovative brands like ACT N°1, Gisèle Claudia Ntsama, Cormio, and more. They redefine craftsmanship, connecting with Italy's creative industries in unique ways. Uniquely, they address the challenges and crucial themes of contemporary society.
Spaces will shine with exciting stories of Italian creativity and sustainability. Discover Verginer's wooden art and Chiara Taiariol's glass creations. Explore textile wonders from Dolcevita, Orange Fiber, and Rada, transforming recycled materials into masterpieces. And then there's Stella Jean, the designer who masterfully blends sustainability with the fight for social justice.
The opening event honors Kartell's green shift, marking the 20th anniversary of "Louis Ghost" chair (60% less pollution now). Six Detroit artists will bring these Kartell pieces to life, creating an exciting live art show. The chairs, once transformed into artworks, will be exhibited throughout the month and auctioned for charity.
In September, all energy used for the event, including installation, in-person events, and metaverse servers, is 100% renewable. Thanks to MIGreenPower by DTE Energy, supported by Bedrock, the event is eco-friendly.
The exhibition embodies the spirit of blending that characterizes Palomba Serafini Associati, described in the words of Ludovica and Roberto Palomba: "We can define our approach to design as 'holistic.' We develop every detail, focusing on the overall image because in the end, all the individual elements of design - like voices in a choir - come together into a single identity."
"We are proud to participate in the beautiful LoveITDetroit initiative with Fashion Panorama - The Italian New Wave, confirming Vogue Italy's commitment to creating bridges and synergies between our country and the rest of the world. The main goal of the traveling exhibition is to tell the many stories of Made in Italy that make us proud today, demonstrating that there is fertile ground thanks to the work of young designers, each with their own unique creativity and insights, yet united by common values and a desire to build the future." Francesca Ragazzi - Head of Editorial Content at Vogue Italy.
Words from Consul Baistrocchi: "LoveITDetroit will once again become an international showcase for Italian excellence, helping to spread the importance of a sustainable approach in the creative industry and inspiring best practices from Italy, integrating tradition and craftsmanship with technology and innovation. For the love of Italy. For the love of Detroit. And for the love of design!"
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
The recent judicial events between Binance, the Securities and Exchange Commission and the Commodity Futures Trading Commission in the United States would have had new feedback. According to Bloomerg, both Visa and Mastercard have decided to stop issuing co-branded cards with the platform.
Binance is one of the largest cryptocurrency exchange platforms in the world. Founded in 2017 by Changpeng Zhao, the platform offers a wide range of cryptocurrency services, including trading over 1000 cryptocurrencies, marginal trading, and futures.The platform's reputation stems from its user-friendly interface and provision of advanced options tailored to experienced traders.
It has gained popularity thanks to its large selection of supported cryptocurrencies and low trading fees. The platform also issues its own token called Binance Coin (BNB), which can be used to pay trading fees on the platform and to access special benefits.
Binance was also the center of attention for regulatory issues. Global concerns over platform's unregulated nature and potential for illicit use raised by multiple jurisdictions. This has led to greater regulatory control over the platform in some countries.
Excluded from US banking, no Australian credit transfers accepted since May 2023.. Among the latest events would be the subpoena of Binance and his CEO, Changpeng "CZ" Zhao, for an alleged violation of securities regulations and for circumventing the rules to allow access to cryptocurrency exchanges.
In June, the block came from Belgium with the National Financial Services and Market Authority (FSMA) informing Binance not to serve domestic customers outside the European block.
Among the last realities to take distance from the platform, as reported by Bloomberg, there would be Mastercard and Visa.
The initial hint of the split surfaced when Binance announced the closure of Binance Connect, a service facilitating crypto acceptance via Visa and Mastercard networks.
Then the two circuits made the decision to stop their relationship with the platform. Visa's gradual separation began in July 2023 with the decision to halt marketing of co-branded cards with Binance.
For Mastercad, however, it is a definitive separation of the collaboration, which comes into force from September 2023. The news was the same Binance, with a statement to inform its users:
"The product, like most debit cards, has been used by Binance users to pay basic daily expenses, but in this case the cards are financed with cryptocurrency assets. Only a small part of our users, less than 1%, will be affected by this problem. Users of this product will have until 21 September 2023, when the card will no longer be available for use.
Binance accounts in the world are not interested. Where available, users can also make purchases with cryptocurrencies and send cryptocurrencies using Binance Pay, a contactless, borderless and secure cryptocurrency payment technology designed by Binance".
SOURCE: Corriere Comunicazioni
Milano e Finanza
Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
NFTs are facing a challenging time. First, a valuation crash hit, and then came accusations against renowned auction house Sotheby's, as well as notable celebrities like Paris Hilton, Justin Bieber, Madonna. Some investors alleged "misleading advertising" of Bored Ape Yacht Club NFTs, claiming that the auction house had artificially "manipulated the collection's price by inflating it."
In 2021, the prestigious auction house Sotheby's hosted a significant event in the digital art world: an auction of NFT collectibles from the Bored Ape Yacht Club collection. These NFTs, representing unique digital artworks belonging to an exclusive community, captured the attention of investors and enthusiasts worldwide. During the auction, various Bored Ape NFTs were put up for bid, each representing a distinct "bored ape." Sale prices exceeded all expectations, with a single NFT fetching an impressive value of over $1.5 million. Overall, the auction generated revenue surpassing $24 million, setting new records in the NFT market.
"Regrettably, the overly hyped Sotheby's auction proved to be a sham that served as a starting point for the massive scheme believed to have defrauded investors." This is noted in documents presented by the auction house to the federal court. What are we talking about?
Several factors triggered suspicion among investors. For instance, an anonymous buyer acquired a collection valued between $20 and $30 million for a staggering $51.7 million.
At first, in December, when investors filed the lawsuit, the auction house's name was not present in the proceedings. However, Sotheby's was later mentioned in documentation filed with the federal court in California in early August 2023. In addition to the auction house, the lawsuit named celebrities such as Paris Hilton, Justin Bieber, Serena Williams, Madonna, The Weeknd, Snoop Dogg, Kevin Hart, DJ Khaled, and others as involved parties. Significantly, Moonpay, a cryptocurrency company linked to Guy Oseary's venture capital firm, known for his historical connections to the American pop star of Italian descent, also found itself implicated in the lawsuit.
Investments in the NFT world continue, but they're not as robust as before.
As an example, in 2017, the CryptoPunks collection launched, showcasing 10,000 unique pixel art characters, and it had an average price of around $24. Today, some of these CryptoPunks have sold for millions of dollars each, with a peak of over $7 million for a single piece. In July 2023, "CryptoPunk #7523" was the most expensive, purchased by an anonymous buyer for $11.7 million. The third spot on the podium is occupied by a Larva Labs NFT, Punk #7804, resold for $2.5 million.
During the first quarter of 2022, invested dollar volume experienced a 5% decline when compared to 2021. Furthermore, according to the Non Fungible platform, while there was a 21,000% growth between 2020 and 2021, there was a 50% decline in value between 2021 and the first quarter of 2022. To put these percentages into numbers, the NFT market was worth about $150 million in 2020, which surged to $17 billion in 2021. In August 2023, according to Coinbase:
"The NFT price is down 99.93% from its all-time high of €25.71, with a circulating supply just under 36.9 million NFTs."
SOURCE: LaRepupplica
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Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
In the annals of financial innovations, PayPal is about to take a bold step. According to Bloomberg, the company is about to enter the world of stablecoin with the launch of its own PayPal USD. This new digital asset is going to possess a significant characteristic: Paxos will partner in its issuance, and it will manage a 1:1 reserve, following the approach of the currently most praised and well-funded stablecoins.
A surprising move by PayPal is the adoption of Paxos as its issuer partner. This company, once an issuer of BUSD (Binance USD), had ceased its activities due to legal actions taken by the SEC and the New York State Financial Authority. However, Paxos seems to have been chosen by PayPal as a partner for the launch of its stablecoin. This could be a sign of PayPal’s confidence in Paxos' capabilities, despite past controversies.
The new PayPal USD will have an initial activation phase limited to the United States. Nevertheless, it remains uncertain whether PayPal is planning similar projects for the Euro area, where interesting opportunities may emerge after the entry into force of mica (Markets in Crypto-Assets Regulation). The choice to focus first on the US market could be linked to strategic and regulatory reasons.
The stablecoin sector has proved profitable, with companies like Tether and USDC generating huge profits. PayPal’s decision to enter this market could be fueled by the prospect of similar gains. The company seems to face some challenges, but it is also clearly geared towards innovation and the adoption of cryptocurrencies.
PayPal USD can be converted into US Dollars at any time via the PayPal platform. In addition, it will be possible to use this stablecoin to purchase cryptocurrencies on the platform, at least in the United States. An interesting feature is the planned integration with VENMO, offering greater flexibility in the use of stablecoin.
An intriguing aspect is the ability to transfer PayPal USD to compatible external wallets. Monthly reserve statements will be provided, submitted by both Paxos and an undisclosed outside company. This transparency could help build trust between users.
PayPal USD could open up new opportunities for users. In addition to the conversion to US Dollars, you can use it for payments on the PayPal platform and to connect fiat and digital currencies. The features include:
PayPal believes that this new stablecoin can simplify purchases in virtual environments, facilitate money transfers between friends and relatives and improve international payments. This move could also open up emerging scenarios in the web3 ecosystem, with PayPal USD set to be compatible with this world from day one.
Starting in September, Paxos will publish a monthly reserve report, providing a transparent overview of the instruments that make up the PayPal USD reserves. These reserves will be secured by dollar deposits, treasury bills and cash. All this will help to provide users with greater security and confidence in the use of the new digital asset.
In conclusion, the upcoming launch of the PayPal USD marks an important step for PayPal in the cryptocurrency and digital asset arena. With the hope of greater regulatory clarity and increasing acceptance of cryptocurrencies, PayPal is pushing forward into a new digital financial age. The adoption of the web3 ecosystem and the integration with VENMO promise further interesting developments. It remains to wait to see how this new initiative will affect the global financial landscape.
REAL ALSO ---> The PayPal upgrade. A new entry in the cryptomarket
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Viola Meacci, student of Biomedical Engineering at the University of Pisa, has always been interested in the world of journalism. In her job, she explored the world of blockchain, cryptocurrencies, NFT and metaverse which she now very is passionate about it .
