On 14th September, Jill Malandrino, global markets reporter at Nasdaq interviewed Johan Toll, the head of blockchain product management at Nasdaq. The interview covered the various projects implemented by Nasdaq in the blockchain industry and other Fintech businesses.
Johan was asked about the ongoing blockchain projects initiated by the Nasdaq team. According to him, one of the interesting projects included tokenizing the asset issues and settlements of mutual funds. The firm was also interested in the trading of open-ended funds in the Nordic countries. They have been working with major banks in the Nordic region to try replacing the old and antiquated infrastructure into a distributed environment using the blockchain technology.
Furthermore, they were not only focusing on handling the asset related issues but also focusing on securing the payments.
According to Johan, collaboration was an important step in the development of the blockchain industry. Blockchain has the ability to transform the whole market and technology was not the only key factor for such a transformation to occur. Some of the other important aspects include working closely with the clients, regulators, central banks and anyone who could help in transforming the market.
Johan also spoke about the most interesting project being developed by the Nasdaq business and what excited him the most about it. He said:
“Its really about rewriting tomorrow for us and see how collaborations can potentially change markets”
Johan was also asked about the other industries where Nasdaq could apply blockchain technology. He stated that blockchain could be used in an industry where there is a buying demand and a supplying demand. Individuals could meet up with one another and then securely settle transactions in a shared distributed environment. This will help reduce the needs for reconciliation and errors.
Johan concluded by conveying his opinion about how blockchain technology will revolutionize the financial industry. He stated:
” I think it will stay for sure, blockchain is about changing the relationship between the issuers and the investors. Brinig them closer together will speed up and secure the markets”
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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind
XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”
A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.
Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry! 😆
— Wietse Wind (@WietseWind) June 23, 2019
XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.
After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.
The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.
This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.
XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.
SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.
Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.
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