Santander Extends Ripple’s Cross-Border Payment App to 19 Regions

Santander Extends Ripple’s Cross-Border Payment App to 19 Regions
July 14, 2020

 

As Bitcoin (BTC) fell below $9,300, the cryptocurrency market once again turned slightly bearish. At the time of writing this report, Bitcoin was trading at $9,232.26, down 0.5% in the past 24 hours. Ether (ETH) was trading at $239.46, reflecting a decline of 0.9% in the same period. Ripple’s native currency XRP lost 0.8% to trade at $0.1980. Other major altcoins which have lost ground in the past 24 hours include ChainLink (LINK-$7.29, -7.5%), Stellar (XLM-$0.0903, -3.5%), Ethereum Classic (ETC-$6.27, -2.3%), Litecoin (LTC-$43.63, -2.1%), Tron (TRX-$0.0174, -3.7%), IOTA (IOTA-$0.2498, -1.0%), EOS (EOS-$2.54, -2.7%), Monero (XMR-$68.65, -1.7%), LEO (LEO-$1.13, 0.3%), Dash (DASH-$71.04, -2.1%), Cosmos (ATOM, $3.92, -6.6%), Bitcoin Cash (BCH-$230.52, -2.7%), Tezos (XTZ-2.85, -1.2%), Cardano (ADA-$0.1248, -4.4%) and Bitcoin SV (BSV-$180.37, -2.3%). Major altcoins which have gained ground in the past 24 hours are Binance Coin (BNB-$18.59, 3.5%), Huobi (HT-$4.24, 0.5%), and OKB (OKB-$5.12, 2.9%).

 

Government level initiatives

Shanghai courts implement blockchain to document hearings

In yet another step in court reforms, Shanghai courts have started using a blockchain technology-based platform to document hearings. Of late, a meeting conducted by the Shanghai high court for discussing court reforms has pointed out that the Minhang District People’s Court is using blockchain technology to document an issue related to equity transfer agreement.

The document reads as follows: “The metadata table which records the file name, file size, file generation time and other information of the court record files and written materials is generated instantly […]The audio-visual conversion record, the metadata table confirmed by the parties’ signature and other materials were completely presented in the “electronic file” of the case.”

The Shanghai court documentation reform trial began in March. In the past three months, 260 courts have started using the blockchain platform.  Furthermore, 90 business courts and 493 judges have begun piloting the platform, and 4261 trials have been successfully completed.

 

Private sector initiatives

Santander offers One Pay FX payment app to 19 additional regions

Spanish banking giant, Santander, has begun offering its One Pay FX international payment app, developed in partnership with blockchain-focused firm Ripple, in 19 more areas. Santander developed One Pay FX app to achieve its aim of borderless payments. The app was rolled out two years ago.

The app was earlier available only in the UK, Poland, Spain, and Brazil. Chile and the US are the notable countries in the list of new additions. Regarding the need for partnership with Ripple, Ed Metzger, CTO of One Pay FX said: “Customers told us that the international payments process could be better, so we partnered with Ripple to explore how blockchain could make transactions faster, cheaper and more transparent.”

 

BitTorrent now supports Binance Coin as a payment options

Popular file sharing service provider BitTorrent, owned by Tron (TRX) blockchain founder Justin Sun, has started supporting stable coin Binance USD (BUSD) as one of the payment options. Therefore, BitTorrent users will be able to purchase BitTorrent and µTorrent Classic Pro account with BUSD, in addition to BNB, the native crypto of Binance blockchain.

With this, BitTorrent now supports six payment options, namely Bitcoin (BTC), BitTorrent’s utility token (BTT), Okex (OCB), Tron (TRX), BNB and the latest addition BUSD.

Furthermore, BitTorrent and µTorrent have also substituted the ERC-20 BNB token with BNB (BEP2) token, which is quicker and more liquid. BEP2 is anticipated to enhance BNB user’s experience while purchasing Classic Pro membership. BEP2 token was created by a partnership between Binance and CoinPayments.net.

 

Liquid Network develops its own Javascript

Liquid Network, owned by Blockstream, has come up with its own Javascript library for builders to quickly work with blockchain. Liquid Network, generally referred to as sidechain of Bitcoin (BTC), utilizes a bridged variant of Bitcoin as native cryptocurrency. Even though it was structured to speed up BTC transfers between cryptocurrency exchanges, game developers are using it to create non-fungible tokens.

As Liquid was created by overhauling Bitcoin’s codebase, in several ways, it can be regarded as an upgraded version of Bitcoin. Liquid ensures quicker block times, while facilitating transaction privacy and support for custom tokens. By this year-end, it will boast of a highly improved scripting language. The open-sources Java library, named LiquidJS, eases interacting with Liquid Network for third-party apps. There is no need to set up dedicated nodes. LiquidJS was created by pTokens.

Thomas Bertani, the founder of pTokens, pointed out that Liquid library serves many purposes, including non-cumbersome integration with wallets. Bertani said: “It can also be used with DApps – financial tools, swaps, private transactions, etc. For example, this library will enable interoperability projects like pTokens to add support for Liquid Network.”

 

Miscellaneous

Over 13,000 Bitcoin addresses currently worth $1 million

There are over 13,000 Bitcoin (BTC) addresses that are worth at least $1 million, according to data from Glassnode. At the current prices, it takes about 107 BTC for an address to become a dollar millionaire. Since this metric is tied to the dollar price of Bitcoin, it tends to fluctuate a lot. For comparison, the number of addresses that contain at least 100 BTC has a much lower volatility.

As per data published by Glassnode, there are more than 13,000 addresses that hold Bitcoin (BTC) worth a minimum of $1 million. Based on the prevailing price of $9,276, around ~108 BTC is required for an address to be worth a million dollars. Since the calculation uses the value of Bitcoin in US dollars, the net worth of addresses holding at least 108 BTC changes frequently. Relatively, those addresses with at least 100 BTC demonstrate lower volatility.

Interestingly, the aforesaid calculation will not assist in identifying the number of Bitcoin millionaires as an individual could have more than one BTC address. To precisely know the number of Bitcoin millionaires, we have to know the number of institutions or individuals who control the 13,290 addresses. Theoretically, it could be any number between 1 and 13,290.

Disclaimer: Any financial trading analysis offered here is our opinion and is not intended as advice or direction for investors. We cannot guarantee the success of any trades made as a consequence of this article, and we encourage traders to incorporate a strong money management strategy to limit losses when they enter the markets. Please use this article as part of your own research before formulating strategies prior to trading.

Ian Maguire

Ian Maguire

Ian is our resident contributor to the latest going ons in the cryptomarket, keeping up to date with the latest icos and coins


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