The app named MoneyTap is in the latest cryptocurrency news, after being accepted in Japan by a consortium of 61 banks, which are responsible for over 80% of the country’s banking assets. The app is rolled out by the company behind the XRP altcoin, Ripple, and uses its blockchain technology.
First introduced in a tweet by Ripple’s own profile on Thursday, the fintech company confirmed the app and its live version seven months after its initial announcement earlier this year. For the ones that don’t know, his app is a product of SBI Ripple Asia, which is a banking consortium that launched in 2016 with the main aim of leveraging Ripple’s blockchain technology for domestic bank transfers within the country.
The smartphone app also allows real-time and 24/7 domestic money transfers using xCurrent which is Ripple’s enterprise blockchain network, according to the published details from the app’s website.
MoneyTap will trigger payments with the use of a simple QR code or the recipient’s phone number via the app, supporting both iOS and Android platforms. With the launch, the app is also officially supported by three banks – Suruga Bank, Resona Bank, and SBI Net Sumishin Bank, mostly because of the zero-fee transfers between these banks.
The app is designed to be quick and allow small-amount remittances in a service that will help the life of everyday residents. The maximum transfer amount is limited to ¥30,000 (approx. $262) per transaction and a top of ¥100,000 ($875) per day.
— CCN (@CryptoCoinsNews) March 2, 2017
Bitcoin Is Close To $4,100 As Tokens Gain 20%
"In my opinion, blockchain and crypto-related investment opportunities will be one of the fastest growing sectors in the alternative asset management space in the next 10 years. This means that every alternative asset manager will have to create a strategy to help their LPs gain exposure to the nascent industry," Pompliano said.Aside from the greens recorded in the top 20 cryptocurrencies, the best performers on the day include the names of Ontology, Ravencoin, Tezos, Huobi Token, and KuCoin Shares - all recording gains from 12% to 25% on the day.
Analyst: 90% Of Smaller Crypto Projects Will Result In Complete Loss
“No matter how these small projects are financed (via an ICO, premine, fair launch, dev reward, self-funded etc.), they are essentially young startups in a completely unproven technological field. Such startups are known to have an extremely high failure rate of about 90%,” the analyst explained.The "Wolf of Qtrade.io" also said that only Bitcoin, Ethereum and Monero are the coins that have "traction" and ones that should make up core crypto exposure.
"There’s no denying that there’s a realistic chance that somewhere in the 10% of the projects that survive lies a gem that ends up providing a 10x, 100x, or even 1000x return on investment," he said.Overall, his thoughts are very much in line with the other traders in the crypto community which now recommend investing only in the cryptocurrencies one can afford to lose and building the portfolio around high-cap coins such as Bitcoin and Ethereum.
Mayor Of Chicago: Cryptocurrency Will Save Countries From Financial Crises
“The trend lines are affirmative for its future. I don’t know if that’s ten years, and I don’t know if that’s 20 years, but it’s affirmative. I don’t know what it is. I know it’s an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it’s not the top 100 things I would have to learn about.”Emmanuel also noted that the nation states are falling apart while the "city states are emerging." This is why Chicago and other major cities have their own wage laws, some of them even have their own income taxes and many other different regulations. In times when countries like Iran and Venezuela are facing financial embargoes, cryptocurrency can be a possible way to maintain global transactions, according to Emanuel.
"Nation states are falling apart, or receding. City states are emerging, so the political structures we all grew up under are changing. One day, somebody's going to figure out - whether that's Argentina, ten years from now, five years from now - how to use cryptocurrencies to stay alive when their facing a financial crisis, and then you're going to find out that this moment has arrived," he confidently said.To sum things up, Emanuel said that he believes that "an alternative way of currency dealing with the debt markets is going to happen" at some point in the future.
The trend lines are affirmative for its future. I don't know if that's ten years, and I don't know if that's 20 years, but it's affirmative. I don't know what it is. I know it's an alternative way to trade, and therefore, I gotta learn about it, and I gotta be honest, as mayor, it's not the top 100 things I would have to learn about," Emanuel concluded.
Tech Giant Kakao May Introduce Millions Of People To Crypto
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