Ripple, the cross-border payments giant spearheaded by the San Francisco-based technology company Ripple Labs, is set to have a say in Europe’s blockchain aspirations. The International Association for Trusted Blockchain Applications [INATBA], has announced that Ripple will be included as a founding member of its organization.
The INATBA is a body of small and medium enterprises [SMEs], policy-makers, regulators and civil-standard setting organizations that have joined forces to build effective regulation within the blockchain and cryptocurrency industries. It allows notable voices in the virtual currency field to effectively communicate with each other and further adoption, both at the corporate level and at the sovereign level.
Brad Garlinghouse, the CEO of Ripple called the inclusion an “honor,” and a “privilege,” adding that regulators, governments, and the cryptocurrency industry must come together for effective financial governance. He stated,
“This really is a pivotal time for the distributed ledger technology industry. It’s critical that as an industry we come together and engage with regulators and governments globally. The work we are seeing with the European Commission is pivotal and can be leading in this effort. We’re thrilled to be involved and look forward to being a leading participant.”
Formed by the European Union in November 2018, initial members of the INATBA included ConsenSys, IOTA, UniBright, RoyaltyRange and STOKR, among others. Since then, new members such as Ledger, R3, IBM Belgium, Guard Time, Swift, Barclays, BBVA, Accenture and the Cardano Foundation have joined the association. In fact, the Cardano Foundation’s addition contributed to ADA’ recent price surge.
Further, IOTA’s Director of Social Impact and Public Regulatory Affairs, Julie Maupin, will serve as a board member of the association.
The key focus areas spelled out by the European Commission include, allowing dialogue with regulators, promoting a transparent and inclusive model of blockchain governance, creating global and sector-specific guidelines for DLT applications, and developing standards for interoperability among participants.
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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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