Blockchain startup Ripple Labs makes headlines in our crypto news today for announcing the hiring of Amir Sarhangi who worked at Google on a new wireless messaging system, now will be placed as Ripple’s vice president of products.
This San Francisco-based startup is among the most popular startups that want to capitalize on the blockchain technology. The team expressed their excitement to work with Sarhangi and share their plans to develop the well-known payments network- RippleNet.
Sarhangi joined Google three years ago with the acquisition of Jibe Mobile which was a startup founded by Sarhangi himself. His startup was the one that started developing this technology for wireless carriers.
This new project is seen as a descendant to SMS texting since it’s well handled. Sending multimedia and other commercial texts or showing your airline boarding pass will be easily handled over cell networks.
Google sees this as an opportunity for a potential revenue generator and thus partnered with multiple wireless device markers so they can introduce the new messaging system-RCS.
Sarhangi will guide Ripple in order to expand the RippleNet which is a network of various financial institutions and banks that use Ripple’s technology for faster and more efficient cross-border payments.
In the same time, another great news considering Ripple is that XRP has just been added to two new cryptocurrency exchanges. OmniTrade, for example, is a Brazilian exchange that just announced on their twitter account that XRP is now available. Also, XRP is now in Yobit as well.
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“By using Coinify, we are not running into the knife. It is still not clear to me how blockchain is any better than other database technologies. The transactions are so far more expensive and slower than a normal payment method. Decentralization brings only cumbersome improvements. None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works.”Herren said that the decision comes after the prolonged bearish correction on the market where most of the crypto assets lost nearly a third of their value. Despite the fact that investors didn’t really get scared of the decline in prices, institutional adoption is still uncertain regarding making more profits. For example, back in 2018 in June, the Expedia hotel booking platform deleted Bitcoin out of their options and in the same year couple of months back, Reddit also stopped accepting cryptocurrency for its gold membership plans. Years back, Bitcoin became popular because of its attractiveness as a cheaper alternative for expensive payment processors. But as the technology got more popular, the network was unable to handle a higher number of transactions such as Visa or MasterCard and that’s why retailers didn’t choose crypto for making transactions. The Swiss retail giant brings bitcoin back into the retail game. However, traders who are into crypto or those who just hold on to it for better days can now use their coins to purchase something from the retail platform.
New Report Shows That Bithumb Is Laying Off 50% Of Its Staff
“Voluntary retirement is part of our support program for former employees and is intended to provide assistance and training for job placement. Apart from that, [Bithumb’s] trading volume has decreased compared to the previous year, [so] we are trying to provide internal measures. We will continue to add necessary personnel for various new businesses.”Bithumb still hasn't responded to the requests for comment. However, many speculate that this move is right because of the crypto winter which led to a lot of minuses all over the market. Still, what's interesting is that Bithumb has been preceded by many other firms in the sector - such as the mining giant Bitmain, the blockchain software company ConsenSys, the decentralized social network named Steemit as well as the similar crypto exchanges Coinsquare and Huobi - all of the companies which have decided to make significant cuts in the recent months. According to data from CoinMarketCap (CMC), Bithumb has seen more than $1.3 billion in trades over the past 24 hours. The exchange, however, was removed from the CMC global exchange rankings in January 2018 mostly because of the concerns that the site had over the reportedly "extreme divergence in prices from the rest of the world" and its fellow exchanges in South Korea. Currently, everyone is waiting for an official confirmation about the layoff from Bithumb. The respected exchange hasn't confirmed anything yet but will probably do that over the next couple of days.
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