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Amazon has caught the Eyes of Ripple

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Ripple is slowly making its way into one of the world’s biggest online retailers- Amazon. They have recently partnered with the global payments processing firm WorldPay to add Amazon Pay to WorldPay’s huge list of merchants, according to a press release by PYMNTS on 20th March 2019.
This brings clearly to our minds what the Chief cryptographer for Ripple has said as at December 2018.David Schwartz, had let it slip that there were two huge Ripple partnerships coming up that he wasn’t able to name. He added that these companies were not just banks, like many of their other partnerships, but they were household names.

David later implied in a tweet that he shouldn’t even have mentioned that two household names were partnering with Ripple. He stated that Brad Garlinghouse, the Ripple CEO,had yelled at him for having revealed the upcoming partnerships. It’s possible that David dropped too big of a hint that pushed the limits on some non-disclosure agreements that Ripple had signed.

Ripple investors not wanting to relent about the saga,were quick to search for clues after hearing about these big partnerships. In a Ripple conference from November 2017, which is publicly viewable on YouTube, a slide can be seen which shows Amazon, Uber, and Seagateas potential users of their payment. This was exactly how the clue came about and now, here we are this year with evidences of Ripple’s partnership with Amazon.
AMAZON, WHY CONSIDER PARTNERSHIP WITH RIPPLE?

Reports has it that for international companies like Amazon and Uber, up to 1.6 trillion USD worldwide is spent every year on processing international payments. These companies must fund multiple bank accounts with various currencies to be able to send and receive payments in those currencies. This means having a large amount of capital sitting around, and paying huge operational fees for each bank account.

Using XRP as an intermediate solves this problem. With the Ripple payment system, payments made in any currency are converted to Ripple XRP and sent to a single US bank account, where they are then converted to USD. Along with drastically reducing costs, transactions would only take 4 seconds to settle. This is much quicker than the model currently used by Amazon and Uber for international payments, which takes 3-5 days to process transactions.

THE FUTURE OF IT ALL..
According to Patrick Gauthier, Amazon Pay Vice President, their WorldPay partnership is a serious step towards Amazon Pay’s vision to become much more widely available to merchants. The company has a desire to become a world leader in not only online retail but in payments as well.

Speaking in regards to Amazon Pay’s strategy to make this goal a reality, Gauthier said:

“We started to really think about how [we] not only simplify integration and onboarding, but [how to] better manage operations on an ongoing basis. We decided the best solution for us was to integrate with a large merchant acquirer, as that simplifies a lot of the day-to-day issues around settlement, reconciliation, reporting and dispute management.”
This collaboration will make WorldPay the first acquirer to 100 percent implement Amazon Pay for its merchants, making it a milestone event for the payments industry.

Moreover, this newfound partnership between Amazon Pay and WorldPay has got Ripple enthusiasts excited that Amazon is getting closer to adopting Ripple. As Amazon’s Pay Gauthier has stated that this recent partnership is only a starting point for further innovations in the payment industry since it will improve merchants interactions with buyers.
 

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PayPal has reached 85% of Binance.US Volume in first month of Crypto services

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The payment giant company in the United States, PayPal is said to have reached a benchmark of 85 percent of the total trading volume of Binance.US; a cryptocurrency trading platform within its first month of operation. The payment company which was once skeptical about anything Bitcoin and cryptocurrencies launched and started offering cryptocurrency services to its users last month, October, 2020. This was made possible by a partnership between Paxos and PayPal to make cryptocurrencies available to users in the United states.

However, the daily trading volume has risen to 25 million dollars, a figure close to the total trading volume of Binance.US since PayPal launched. The figures on the trading platform of Paxos; itBit exchange rose from a daily figure of 5 million dollars to a whopping $25 million in November after a month of partnership with PayPal. Whether the partnership with PayPal is the reason for the spike in the daily trading volumes or other reasons are responsible for it, this remains unclarified.

PayPal has an estimated user base of over 346 million users over the world. Whether or not the partnership is responsible for the spike in the 24-hour trading volume on Paxos’s platform, offering crypto services on the platform is about to see a new level of adoption of cryptocurrencies worldwide.

Tola says he wants more big companies to go after PayPal’s footstep

Tola Joseph, the CEO and founder of twitterCryptomasterclass has expressed his views via his twitter handle (@connectwithtola) as regards the report about PayPal reaching 85 percent of the daily trading volume of Binance.US. He says he wants to see giant companies get involved in crypto and offer cryptocurrency services in a tweet.

He also included in another tweet what will happen in one year if PayPal’s one-month volume could be a competition to cryptocurrency exchanges. He included that he wanted the payment giant to offer cryptocurrency exchange services.

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Singapore’s Largest Bank, DBS to Launch Crypto Trading & Custody Service

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Singapore’s largest bank is reportedly making an inroad into the blockchain and cryptocurrency industry with the launching of a cryptocurrency trading and custody service. 

The Bank DBS is also reportedly launching in addition a platform for conducting security tokens offerings STO. The trading service will support five major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), Ripple (XRP), Bitcoin Cash (BCH) and Ethereum Classic (ETC). 

The DBS cryptocurrency trading platform will also support four fiat currencies such as the US dollar, the Singaporean dollar, the Japanese Yen and Hong Kong dollar. 

It’s revealed that using it’s STO features, businesses will be able to issue tokens. The bank further revealed the trading platform will not hold cryptocurrency rather, it’ll be held by the Bank itself. The bank said the service will offer “distinct advantages such as the assurance of institutional-grade security.” 

While the move of the Bank to release its cryptocurrency offerings further validate the idea that blockchain technology will be adopted by businesses and government globally, and more Singaporeans will be able to conveniently purchase cryptocurrency, the Bank was quoted saying:

DBS’ plans for a digital exchange are still [a] work in [progress], and have not received regulatory approvals. Until such time as approvals are in place, no further announcements will be made.”

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A WordPress Plugin Now Allow Contents to be Time stamped on Ethereum

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A WordPress plugin has been developed to allow WordPress users time stamp contents on the Ethereum Blockchain. 

The plugin which was developed by an Amsterdam based firm WordProof helps WordPress website owners with Copyright issues by giving assurance to traders who the creator of a content and the integrity of same content considering blockchains cannot be tampered with. 

WordPress is one of the largest Content Management Systems on the internet powering up multitudes of websites of various types. 

The plugin was announced by WordProof on the 22nd of October, 2020 at the London BlockDown 2020 3D virtual blockchain conference. At the event, WordProof Head of Product, Jelle van der Schoot revealed the firms envision itself to be the most user-friendly timestamping tools for use across all Content Management Systems and e-commerce platforms. 

According to WordProof, it also supports other blockchains such as Telos and EOS. 

Speaking on the support of Ethereum on WordProof, Jelle van der Schoot said “Adding support for Ethereum marks an important step towards achieving this goal, so we’re excited to welcome the Ethereum community!”

It’s no doubt content theft is a serious challenge and alterations of published contents that could impact truth poses a serious concern to information flow. But with the ability to timestamp contents on WordPress just like Steemit and Hive blockchain blogging platforms, the defining features of blockchain become available to millions of WordPress users for use.

Other WordPress based crypto plugins 

While the development of WordProof and its integration with Ethereum, it’s not the only WordPress plugin. Over the years, there has been several blockchain and cryptocurrency plugins offering features to enrich the WordPress user experience. There has been plugins that display cryptocurrency prices, plugins that allows automatic publishing to Steemit, that allows the buying of cryptocurrency amongst several others.

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