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Ripple (XRP) Boss: Bank-Issued Digital Assets A Deeply Misguided Idea

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Ripple worth edge decreaseBrad Garlinghouse says financial institution issued currencies doomed to failTransactional volumes lowJPM Coin is a bank-issued coin, however it is going to fail if we think about Brad Garlinghouse research. A synergy is obligatory, and Ripple’s InterLedger Protocol can remedy their want. Meanwhile, XRP costs are down and trending inside of Feb Eight excessive–low.Ripple Price AnalysisFundamentalsBack in 2017, David Schwartz, Ripple’s Chief Cryptography officer conceded that it will be years prior to banks undertake disbursed ledger applied sciences. Backing his causes have been scalability and privateness problems. That used to be then, and at this time, we have now a brand new contestant within the sphere—JP Morgan and Chase subsidized JPM Coin, a strong coin that may serve 3 purposes: get rid of locking of capital in overseas accounts, facilitate inter-bank agreement and be utilized by the financial institution for securities transactions. Because those cash are bank-issued, Brad Garlinghouse says they’ll fail. In a ConnectedIn post he says:“A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out. Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their digital assets with their own sets of rules and governance.”Candlestick ArrangementAt the time of press, every XRP used to be converting arms at 30 cents, and that is the 7th directly day of low-range, low volatility worth motion. Aside from upswings of Feb 8, Jan 30 and the ones of mid-Dec, the easy truth is that Ripple (XRP) costs are nonetheless transferring inside of Feb 8, high-volume bull bar. That could be very bullish.From a top-down manner, costs are oscillating inside of Sep 2018 bull bar, striking bulls at a vantage level. All in all, our final Ripple (XRP) price analysis is legitimate, and with transparent purchase triggers at 34 cents, development continuation relies to the degrees of marketplace participation and resultant differ that may propel costs from present lows.Technical IndicatorVolumes are low—averaging 15 million. That pales compared to the ones of Feb 8—at 35 million or Jan 30—at 49 million. Ripple (XRP) will handiest be bullish as soon as a bull bar with volumes exceeding 49 million prints above 34 cents.

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NYSE files a trademark application for trading NFTs

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The world’s largest stock exchange may be planning to bring business into the Metaverse.

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Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

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Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

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CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

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Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

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Binance.US is under investigation from SEC over trading affiliates: Report

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Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

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Boost Insurance unveils product covering against crypto theft from qualified custodians

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Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

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