Ripple to the moon!
First things first for those who don't know what is ripple. Ripple is a technology that acts as both a cryptocurrency and a digital payment network for financial transactions. It is a unique technology because its purpose is for Business to Business. Which is unique for a cryptocurrency.
Read more: Ripple (Cryptocurrency) https://www.investopedia.com/terms/r/ripple-cryptocurrency.asp#ixzz51YA5l4Kv
Why ripple is rising these days!
There are two reasons for the recent breakouts of ripple. It is important to say that the rise a crypto is because of the supply and the demand. Simple economics if the demand is higher then the supply the price will rise.
Coinbase rumours
Coinbase is the largest exchange for cryptocurrencies on the World Wide Web. With a growing community of tens of thousands each day! So if a cryptocurrencie is able to join this exchange it will mean a significant growth in demand. I just explained a increace in demand means a increase in price! These rumours are here because of a numerous of events. The most significant one is that a former coinbase boss is now working for ripple. They are giving eachother compliments on twitter which is unusual. Also coinbase made an announcement that they will be adding some crypots in the near future. Big things will happen in the near future!
Decrease of supple ripple (XRP)
Lets dive right into it! Ripple is freezing a HUGE amount of tokens. This will influence the first rule of ecnomics i explained "Supply and Demand". Supply is droping which means the price is rising. Ripple froze 55 bilion of their tokens that the company holds. People were affraid of the huge number of tokens the company was in possessoin of. So this is no longer an issue which is great for the investors.
Source: http://cryptoconsulting.info/2017/news/ripple-freezes-55-billion-of-xrp-coins/
Ripple joins Abu Dhabi Bank!
The National Bank of Abu Dhabi (NBAD) is pleased to be the first Middle East bank to introduce real time cross border payments on Blockchain technology. The new channel is intended to facilitate regional customers with simple, real time and secure way to process their cross border payments within NBAD network.
Ripple’s Distributed Financial Technology fits within NBAD’s existing infrastructure and offers a secure end-to-end payment flow providing transaction immutability and payment integrity. Integrated to the NBAD’s innovative payments infrastructure, the Ripple solution offers customers end-to-end visibility of transactions and allow for the instant transfer of funds to a beneficiary in a cost-effective manner.
With Ripple connectivity, NBAD aims to significantly progress the way cross border payments are made today by offering clear costs, improved delivery time and visibility into the transaction process – ultimately reducing the investment and resources required by our customers to send payments.
Ramana Kumar, Managing Director & Head of GTB Business and Product Management, added “At NBAD we strive to ensure our offerings are efficient and transparent. Blockchain technology transforms and paves a new way in achieving our goals and better serve our customers, adding value through accessibility and transparency. As an initial adopter and first bank to go live on Ripple, NBAD offers innovative solutions to our clients payments needs”.
Vineet Varma, Managing Director & Head of Global Transaction Banking, NBAD said: “We’re always exploring new ways to enhance our customers’ experience. With blockchain, we hope that we could address the needs of our customers and drive forward more efficient and flexible service. Embracing technologies like Blockchain is a step in right direction for our customers” .
Brad Garlinghouse, CEO of Ripple, added, “Banks and their customers have been hearing about the promise of blockchain technology to enable real-time cross-border payments. Now, some of the most innovative and successful banks like NBAD are making this a reality by offering Ripple-enabled payments to their entire customer base, and in doing so, paving the way to make 2017 the year we see broad commercialization of blockchain take hold globally.”
NBAD is the first bank in the region to provide customers with Ripple’s technology, joining a growing list of premium companies and institutions around the world, including Santander, Standard Chartered, and UniCredit.
According to the 2016 World Bank migration and remittances factbook, the UAE is ranked as the fourth top remittance-sending country in the world, accounting for more than $19 billion (Dh70 billion).
Source: https://www.nbad.com/en-ae/about-nbad/overview/newsroom/2017/01-02-2017.html
Conclusion
Ripple is a great investment for long term and has created a great token and company. They have also created a very stable market to invest in. In the future i see more and more banks joining so Ripple will keep growing.
Thankyou for reading an Please Upvote and follow!
Would love some feedback and questions!
- Bartcardi
Conclusion