Wells Fargo Outage Highlights The Importance Of Bitcoin
The 13th largest bank in the world, Wells Fargo has recently experienced a major outage of their services due to a system failure in its core infrastructure.
Customers of the bank were not able to access online banking, ATMs and in some cases credit cards due to this outage.
The bank acknowledges the outage and apologized to its customers while informing them that the situation is being addressed.
Anthony Pompliano, a partner at Morgan Creek Digital reaffirmed the advantage Bitcoin has over the existing banking structure.
He took advantage of the situation and emphasized on a tweet that while banks like Wells Fargo may experience this type of service disruptions, bitcoin never shuts down.
Decentralization is one of the key value propositions of Bitcoin.
This means that there is no single point of failure that can be caused by infrastructure failure or malicious agent.
Any server, platform or application that is connected to the internet and is hosted from a central infrastructure is susceptible to downtime, outages and security breach.
Binance Would Like To Partner With Ripple
The CEO of Binance, Changpeng Zhao (CZ) has recently revealed his desire to partner with Ripple to use cross-border payment platform xRapid.
Binance is one of the largest and most influential crypto exchange in the world and XRP Ripple is the largest altcoin at the moment in terms of total market capitalization.
However CZ is quick to point out that it is not yet the priority of his company to partner with Ripple through its xRapid platform.
He revealed that his company is focused on launching more features which calls them to work with several partners. With regards to xRapid it seems there is still no active effort for integration aside from the clear intention of Binance to have Ripple as a partner.
XRapid was tested in May 2018 and was commercially launched October of the same year. The platform enables users to perform real-time settlement that is designed to speed up cross-border payments based on the liquidity of XRP.
New Partners In Ripple’s Blockchain University Program
It seems that the Ripple community has more things to cheer about this year as the second largest cryptocurrency in the world by market capitalization, ripple has expanded its Blockchain University Program.
This comes after the CEO Of Binance has announced their desire to partner with Ripple and use its xRapid platform.
The University Blockchain Research Initiative (UBRI) has been around since June 2018 and has recently expanded its members to 29 with the inclusion of Carnegie Mellon, Cornell, Duke University and other higher education institutions from Singapore, Brazil and China.
The main aim of the program is to further the academic research, development and innovation in the emerging industry.
They want to emphasize on accelerating existing and novel programs to improve the industry.
While some crypto community members have been critical of the amount of centralization of Ripple, many have been praising the company on its philanthropic efforts to spur growth for cryptocurrencies and blockchains.
Tremendous Growth Of Huobi Despite Market Conditions
One of the largest cryptocurrencies in the world by trading volume, Huobi has reported a 100% growth in trading volume in 2018 over 2017.
Huobi is currently headquartered in Singapore which initially had 400 employees swelled to around 1,300 people by 2019, operating in 15 offices located in 12 countries around the world.
It must be noted that the company was able to this despite market conditions.
Aside from this accomplishment Huobi’s over-the-counter (OTC) trading desk has reportedly become one of the most traded OTC platform in the whole world.
This is on top of its current success with their Huobi Cloud platform which was reported to have more than 100 partnerships in just a matter of six months.
Despite reports that the company is laying off some people due to the current bearish markets the company reveals that they will continue to onboard staff for its core business and emerging markets.
Upcoming Crypto Wallets from Samsung And Opera May Spur Mass Adoption
Opera will help the emerging class to get exposure in the browser industry while Samsung will help cryptos by spreading information around the mobile phone markets.
According to the Product Lead for crypto at Opera, Charles Hamel, he believes that the next important phase of crypto will come from usage.
This is essential for it to reach a wider adoption.
With millions already using Opera, this would be a great way to onboad new users into crypto space.
The same can be said with Samsung which has been reported to integrate the cryptocurrencies into its latest iteration of its flagship mobile phone the Samsung Galaxy 10.
Currently Samsung has over 10 million active members on its Samsung pay platform while opera has over 182 million users world wide.
Headlines for the world of Cryptocurrencies - February 08, 2019**The Secretive Crypto Project Of Telegram Soon To Launch / UAE To Bring Blockchain and Crypto To 7th World Government Summit / Bitcoin At Historically Oversold Levels According To Analyst / Binance CEO States That His Company Will Survive Any Bitcoin Bear Market / Facebook Might Acquire More Crypto-Related Startups / ** |
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Headlines for the world of Cryptocurrencies - February 07, 2019LedgerX Launches Binary Wager On Bitcoin Halving / New Regulations In Crypto Economic Zone In The Philippines / Deloitte Successfully Concludes Blockchain-Based Pilot To Digitize Document Exchange / Bitcoin Accepted In 37 Cities In Argentina For Public Transport / Litecoin To Be Upgraded To Include Privacy Features |
Headlines for the world of Cryptocurrencies - February 06, 2019Coinbase Now Supports Paypal Withdrawals For EU / Turbo Tax Now Supports Cryptocurrencies / British dependency Isle Of Man Forms Global Blockchain Office / Forbes List Half As Many Blockchain Companies In Its 2019 Fintech 50 / Ripple One Of The Most Innovative Fintech Companies in 2019 |
