China and the gang of four – General Discussion – Xrp Chat

Source: China and the gang of four – General Discussion – Xrp Chat

Yesterday a job posting was discovered at AMEX in their FXIP division and in the job description there was some interesting language that indicated “Santander, Ripple and American Express are launching a block chain service in 2018” it went on in typical job posting fashion talking about how its an exciting time to work in this business unit etc.

Shortly after it was discovered American Express updated the listing and removed the language. I consider this to be a legitimate leak, posted accidentally by a hiring manager, if you work at a large corporation you know that one of the main and only places employees can change public facing web info is through job postings, this is because hiring managers typically create and publish the postings and there are little internal controls to monitor what they put out there, I think someone just made a mistake and now we know a piece of the puzzle.

I then took a look at what is the FXIP business unit, apparently this is American Express’ cross-border payments group that primarily services business-to-business payments, the web page for this group states specifically you don’t need an American Express card to use the service, makes sense.

So the fact that Santander, Ripple and American Express are teaming up is really interesting to me, this is a scenario that not many have speculated or theorized about.

Further digging turned up an article from April that I had read and totally forgotten about until I started looking into this and googled AMEX a bit deeper, the article I found from April talks about American Express being the first US based credit card company to be granted authorization to operate in China, even more interestingly it states that they will operate as part of a joint-venture with mobile payment provider LianLian. LianLian and Ripple announced a partnership in Q1 of 2018.

So now, we have potentially, what I call the gang of four (Santander, Ripple, LianLian and American Express) teaming up to operate in China. China having banned the trade of crypto currencies, but I see this could potentially lead to not the trade of currencies, but a leveraging of them on the back end to operate this service.

Finally, the last thought I had as part of this is, maybe Ripple’s strategy here isn’t to sell xRapid directly to the masses, but to team up with a known and trusted brand like AMEX, so the sales conversations aren’t as strained as “hey use this space age technology, from a very new company” but instead “please use this cheaper, faster service, from a hundred year old brand whose commercials you’ve seen your entire life”

(Note AMEX’s current SLA for cross-border payments is 1 -4 days – I’m sure we can expect a substantial reduction once said new service is launched)

https://www.americanexpress.com/us/content/foreign-exchange/international-payments/?src=Online&digi=onl_lin_ops

https://www.wsj.com/articles/american-express-advances-in-effort-to-access-china-market-1524668149

https://en.wikipedia.org/wiki/American_Express

 

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Edited  by slinuxuzer

DogeCon Bringing Blockchain Memes to Vancouver

Source: DogeCon Bringing Blockchain Memes to Vancouver | NewsBTC

DogeCon is shaping up to be one of the most unique blockchain events in the world. Under the banner of the Doge—the Shiba Inu-turned Internet meme that inspired one of the world’s biggest cryptocurrencies—they are combining crypto-economics, meme culture, and radical decentralization to create unity in the blockchain community.

The first DogeCon will be held in Vancouver, Canada, between June 21-24. There are four main events scheduled over the weekend, with the time in between open as a semi-permissionless showcase of the thriving technology, art, and culture of the city. Crypto-economists, traditional theorists, and decentralist “Shibes” will be invited to discuss some of the fundamental ideas around disruptive technologies such as the blockchain.

DogeCon Vancouver 2018 will be hosted by Carpe Lunam Events Association, a member-run non-profit society that organizes events which promote collaborative community dialogue on blockchain technology, voluntaryism, and non-hierarchical governance. They have partnered with prominent blockchain projects like Presearch, UBIQ, Honey Badger, CoinCards, BitNational, Sam Osei Law Corporation, Chainsafe Systems, CryptoAsylum, ESL Coin and Blockchain Gaming.

“It’s not just a dogecoin convention,’” a representative made sure to clarify. “DogeCon is a serious crypto-economics conference with a playful half, an ‘unconvention’ with special attention paid to elements of gamification, performativity, and participation.”

Attendees will be regaled with talks from Ethereum magicians such as Bob Summerwill and Griff Green. Dogecoin founder Jackson Palmer is also expected to make an appearance, along with representatives of other well-known projects. Entertainment will include a diverse array of live music, from folk guitar at a picnic lunch to vibrant DJ sets and a crypto-nerd rap show.

Plenty of Doge-themed activities are expected, too. There will be a cooperative hackathon, where volunteers will work together to get Dogecoin added to Trezor hardware wallets. They’re also planning a Healing Moon Launch Ceremony with Doge cocktails and artwork, as well as a miniature Puppy Parade.

Most exciting might be the DogeQuest Scavenger Hunt with a one million Dogecoin prize pool. Set in a dystopian cyberpunk future, it will take players on an immersive crypto puzzle adventure throughout downtown Vancouver. Teams will have to contend with wacky obstacles such as Bitcoin maximalist trolls under the bridge; after the game concludes, a public Decentralized Dance Party will commence and continue well into the night.

DogeCon is quickly gaining a large and enthusiastic fan base. Hundreds have responded to their Facebook event, and their Twitter following includes notable personalities such as the Dogecoin Millionaire. Volunteer opportunities will be available to those who cannot afford the ticket price, but make sure to sign up ahead of time.

Tags: blockchain, convention, cryptocurrency, doge, Dogecoin, DogeCon, events, memes, vancouver

Tether Used to Manipulate Price of Bitcoin During 2017 Peak: New Study – Bloomberg

Tether, one of the most-traded cryptocurrencies, shows a pattern of being spent on Bitcoin at pivotal moments, helping to drive the world’s first digital asset to a record price in December, according to research by a University of Texas professor known for flagging suspicious activity in the VIX benchmark.

Source: Tether Used to Manipulate Price of Bitcoin During 2017 Peak: New Study – Bloomberg

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

Questions about Tether and Bitfinex have dogged the cryptocurrency world since last year, when Bitfinex lost banking relationships yet continued to operate. The U.S. Commodity Futures Trading Commission subpoenaed both firms in December, seeking proof that Tether is backed by a reserve of U.S. dollars, as it claims. Tether and Bitfinex haven’t been accused of wrongdoing.

“Bitfinex nor Tether is, or has ever, engaged in any sort of market or price manipulation,” Bitfinex Chief Executive Officer JL van der Velde said in an emailed statement. “Tether issuances cannot be used to prop up the price of Bitcoin or any other coin/token on Bitfinex.”

Read more: Bitfinex said to find Caribbean bank after Wells Fargo exit

Griffin and Shams — in a paper titled “Is Bitcoin Really Un-Tethered?” — set out to understand how the 2.5 billion Tether coins in existence have flowed through markets. While little public information exists about how Tether is created, it generally trades for around $1 because each coin is supposed to be backed by $1 of fiat money in a bank. The currency, which started trading in 2015, is pitched as a stable alternative to Bitcoin’s volatility, acting as a haven for crypto investors.

CFTC Commissioner recognizes the “transformative” nature of cryptocurrency.

In regards to crypto “These currencies are not going away and they will proliferate to every economy and every part of the planet… We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle.” -Comissioner Behnam CFTC

Here is our chance to put money directly into the hands of those who need it, without bribery, rake-offs, graft, and shakedowns. Virtual currencies could transform the economic and social landscape. It could mean a massive, and equitable, shift of wealth. Technology could be transformational, without a military take-over, civil war, or political or religious creed.

Benham also spoke about sectors of the United States economy that have tremendous potential to apply this new technology. Here is what he said about agriculture:

Through blockchain technology, finding solutions to these challenges may become significantly more attainable. Food could arrive on grocery shelves faster, using an intricate system of measures meant to trace location from the farm to the table, with the additional bonus of providing abundantly more information about the product source… we could eliminate food waste and even improve distribution through networks domestically and internationally.

 

And about healthcare:

Blockchain could allow patients to create smart records that gather and harmonize information, leading to better continuity of care and even new models of care. Blockchain could also address medical fraud and waste. And, as a result, help contain the rising cost of health care.

Commissioner Behnam signaled that the CFTC was completely convinced that cryptocurrency is primed to permanently disrupt financial and economic sectors. In fact, he is so confident in cryptocurrency’s staying power that his rhetoric ascended from the analytical to the prophetic:

These currencies are not going away and they will proliferate to every economy and every part of the planet… We are witnessing a technological revolution. Perhaps we are witnessing a modern miracle.

AEON Completes Anti-ASIC Fork. But What’s This Path Fraught With? –

No Turning Back

This column most certainly isn’t to pick on AEON, or the AeonCoin community.

Conducting such a fork is something that many communities in the cryptoverse have been grappling with in recent months, and every project will have different needs and arrive at different conclusions, as is their right. The various stakeholders in the AEON ecosystem have collectively decided a PoW shift is the way forward for them, and they’ve committed accordingly to the now successful fork that occurred at their chain’s block of 963,500.

Rather, we’re interested in using AEON’s case as an example for the kinds of realities projects in the space face upon a PoW shift. Potential complicating factors, as it were. Factors that are worth considering and returning to again and again in the ever so game-theoretic cryptoverse.

WATCH: Bitcoin today is controlled by China. There are four miners that control more than 51% of the hash rate and they can control the future of bitcoin.” — Brad Garlinghouse  CEO Ripple… 

“Bitcoin today is controlled by China. There are four miners that control more than 51% of the hash rate and they can control the future of bitcoin.” — Brad Garlinghouse @bgarlinghouse CEO Ripple…

Bitcoin today is controlled by China. There are four miners that control more than 51% of the hash rate and they can control the future of bitcoin.