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Santander Uses Ripple To Launch First Blockchain Payments App

Banco Santander, or The Bank of Santander (as most know it) is the first Spanish bank that announced the launch of its blockchain payments app for retail customers in even four countries: Spain, UK, Brazil and Poland. The app uses xCurrent which is Ripple’s blockchain technology – to facilitate payments and help customers make most of their digitally connected devices.

The banking giant has even laid a claim as “the first bank to roll a blockchain-based international payment service of this kind to customers in multiple countries at the same time”. The name of the app is One Pay FX and according to users, it is already big as it is present in even four countries.

Santander Bank also prepares to release One Pay FX in even more countries in the coming months. As the executive chairman Ana Botin said in a statement:

“From today, customers in the UK can use One Pay to transfer money across Europe and to the US. In Spain, customers can transfer to UK and US, while customers in Brazil and Poland can transfer to the UK,”

She also added:

“Notably, customers will be offered different payment options depending on their recipients’ destination. Santander users in Spain will be able to send pounds to the UK whereas customers in Brazil and Poland can send sterling pounds the UK.”

In case you didn’t know, Santander is using Ripple’s xCurrent which is an enterprise blockchain solution developed by the San Francisco-based FinTech giant in order to power end-to-end tracking of payments and instant settlements around the world. The platform, however, doesn’t use Ripple’s native cryptocurrency (XRP) to power the blockchain.

At this time, One Pay FX is popular because of the claims that it enables international payments with “3 clicks and 40 seconds” which is a claim that is yet to be verified with a real-world transfer.

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Bitcoin News

Should you invest in Cryptocurrency?

Why You Should Invest In Cryptocurrency today!

A year ago,  a quiet way to success was revealed leading to the creation of instant millionaires from investors.  The online investment known as cryptocurrency increased drastically from January to December of 2017 with an accompanying increase in investors.  A 2018 crypto news source reported that Bitcoin, a type of cryptocurrency, moved from $1000 in January to about $19000 by the end of 2017. Check us out when you are looking for Cryptocurrency news.

Bitcoin is not the only cryptocurrency that witnessed such change.  Other types of cryptocurrency like Ripple and Ethereum also witnessed a drastic change.  In fact, a very strong one at that.

However,  the game turned around for most of the investors as cryptocurrency news showed that there was a massive decline of about 50-75% in the success rate.  This pushed most of the investors to the wall and therefore withdrew their holdings.

But recently,  the latest crypto news showed that a new look has been gotten with many cryptocurrencies like bitcoin,  Ether, etc. having a doubling rate. With this, many were left with a doubting mind of whether to invest or not.

Below are the five reasons why you should consider either investing or reinvesting

Cryptocurrency is growing

Bitcoin news showed that Bitcoin was launched 9 years ago with the other types of cryptocurrency, also of smaller age.  Because it is still in its infancy period, there is a high chance of price fluctuation in cryptocurrency. However, as time goes on with many investors moving in,  there will be an enormous profit associated with it. Hence, this is the appropriate time for you to invest.

Market Work Well With Regulations

Most of the investors of cryptocurrency have ‘regulation phobia’ with the mindset that it paints the market in a bad color.

Well,  the truth of the matter is that regulations and success of the market go hand in hand. In other words,  for a smooth and fair operation of cryptocurrency, regulations must be outlined and adhered to.

No More Anarchy

We all know that anarchy gave birth to cryptocurrency. Fortunately for you,  cryptocurrency has unchained itself from ‘no authority ‘ entrapment. This is the right time for you to invest as cryptocurrency is gaining more ground. For example,  bitcoin news today portrays that bitcoin is now well known around the globe.

 

More Capital

With the excellent innovation of Initial Coins Offering (ICO),  different varieties of cryptocurrencies are able to raise more capital.  An example is the Ether of Ethereum network that was able to expand its demand through ICO.  Another scenario is the messaging app Telegram that recently declared its intention to launch ICO.

Reputable Companies Are Investing

Cryptocurrency is characterized by a high return potential and this has served as an eye opener for reputable companies like banks and other institutions to the boundless benefit of cryptocurrency.  In return, they help to increase the demands for cryptocurrency by their participation.

In conclusion,  investing in cryptocurrency is one of the ways to increase your money within a short period of time. However,  it is advisable to follow the trends of the online investment advisor as it progresses.

For more crypto news, visit https://www.dcforecasts.com/.

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Blockchain News

Hong Kong’s Monetary Authorities Plan To Fight Fraud With A Blockchain Platform

A new partnership is on the way to the Asian market – this time between the Hong Kong Monetary Authority (HKMA) which has partnered with Chinese Ping An, releasing a blockchain-based trade finance platform. The joint effort will speed up the process of preventing fraud.

It all started with the Hong Kong’s central bank initiative in March this year, when the bank unveiled a proof-of-concept (PoC) blockchain platform built for trade finance.

While the enterprise initially included the Bank of China (Hong Kong), HSBC, the Bank of East Asia, Deloitte, Hang Seng Bank and Standard Chartered (Hong Kong), there are now more than 21 banks involved in the new enterprise. According to The Financial Times, all of them share ownership in the platform.

Even though the trials for the platform started in December and the announcement happened in late March, now the HKMA is ready to finally launch it. The launch will probably take place next month in the domestic country. Once the platform is in place, it will expect to reduce the amount of time needed to perform the daily supply-chain finance and trade finance transactions.

What’s most interesting is the fact that the new platform will be able to clear finance transactions in 24 hours – directly opposing the traditional ’10 business days’ timeframe. On top of this, the system will automatically check the validity of all transactions and the parties involved. This will significantly decrease the amount of paperwork.

 

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Bitcoin News

World’s Biggest Asset Manager Taps Bitcoin, Sets Up A Working Group To Investigate

The world’s largest and most popular asset manager BlackRock recently set up a working group all in order to investigate ways it can take advantage of the growing cryptocurrency market.

The $6.3 trillion worth investment powerhouse has set up a team from different parts of the business in order to investigate cryptocurrencies and their infrastructure. Blockchain is here obviously linked with the matter, and the working group includes strategists like Terry Simpson who will examine whether it is a good decision for BlackRock to invest in Bitcoin futures and similar assets.

According to sources close to BlackRock, the investment powerhouse is actively seeking opportunities with this new working group. The company had been apparently “looking at blockchain technology for several years” but declined to comment on cryptocurrencies specifically.

What’s most interesting is the fact that last year, the CEO of BlackRock Larry Fink, said that Bitcoin was merely “speculative” and that its popularity comes from its anonymity. As he said then, “Bitcoin is an instrument that people use for money laundering”.

A year and so later, the CEO is now apparently embracing Bitcoin and the underlying technology (blockchain). According to analysts, this is mostly because more and more direct competitors in various industries are interested in getting into the asset class.

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Blockchain News

Blockchain & Advertising: Can It Make Ads Cheaper?

We all know how big the world of blockchain is nowadays – and how massive is the potential of the underlying technology behind cryptocurrencies. However, one of the most surprising and latest use cases for blockchain has been advertising – and the advertising industry in general.

Currently, a big number of digital marketers are using blockchain as an aide for a variety of tasks. One of these is to see how many of their ads are actually being viewed by real people.

The truth is, there are a couple of reasons why blockchain attracts marketers. For starters, it is a technology that may increase the speed of transactions, giving potential to digital ad transactions and their fulfillment in real time.

For other marketers, blockchain is a great way to prove work and a great verification tool which can ensure proper billing and precise data about the number of impressions that were delivered.

Aside from this, blockchain has the factor of transparency – which can help advertisers to save more money on campaigns that might only see ads being viewed by computer bots and not real people.

The middlemen in the advertising industry also eat up a lot of expenditures. According to the marketing intelligence firm Warc, 40 cents out of every single dollar from”programmatic ads” actually get to the publisher.

This is why many advertising companies are starting to shift their mindset towards blockchain. So far, big brands like Nestle, AT&T, InBev, and Aneheuser-Busch have already started to use it with their advertising endeavors. Nestle, for example, has started to test a product that pays advertising vendors who fulfill their job commitments in real time.

In the end, there are drawbacks of the technology too – best seen now through the implementation costs, number of transactions etc. Still, it is definitely a technology that can restore the public trust and confidence – which are crucial in an industry like advertising.

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