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Ripple-SBI Holdings partnership takes the next step as Yoshitaka Kitao joins Ripple’s Board of Directors




Ripple and SBI Holdings' take their partnership to a new level as Yoshitaka Kitao become a member of the board
Source: Unsplash

SBI Holdings’ CEO, Yoshitaka Kitao’s comments during a July 2018 talk became a reality after Ripple welcomed Kitao as one of its board members.

In July 2018, Yoshitaka Kitao had remarked that he could become an “official of Ripple,” which seems to have come true after Ripple announced that Kitao will be becoming a member of its Board of Directors. Ripple’s Co-founder, Chris Larsen, stated,

“I am excited to welcome Mr. Kitao to our board of directors. From conventional financial markets to digital asset markets, his deep understanding of the financial services industry will offer valuable business insights to help Ripple continue to scale… Approximately half of our customers are located in Asia-Pac today, and we’re rapidly expanding our global footprint across the region. Mr. Kitao comes at a perfect time for Ripple as we look to deepen our customer base in Asia and beyond.”

Kitao will be bringing in forty years of experience in global financial markets to Ripple. Kitao will be replacing SBI Ripple Asia’s Takashi Okita for the position on the board.

Yoshitaka Kitao is a proponent of Ripple and XRP and plans to revolutionize Japan’s payment system by leveraging digital assets. SBI Ripple Asia, a joint venture between Ripple and SBI Holdings, is working towards that goal. Further, MoneyTap, a payment solution developed by using Ripple’s xCurrent technology, is being used in Japan on a wide scale. This advancement has led SBI Holdings to set up a separate subsidiary for it called Money Tap Ltd.

Kitao’s dream of changing the face of Japan’s payment system before the Osaka Expo of 2025 is inching closer to reality owing to this latest development.

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Mozilla’s senior web developer testing out Coil and its monetization feature for his blog




Mozilla's senior web developer testing out Coil and its monetization feature for his blog
Source: Pixabay

Coil, a venture launched by the creator of Interledger Protocol [ILP], Stefan Thomas, is being tested for monetization by Mozilla’s senior developer David Walsh. Coil makes use of ILP and XRP to monetize creators and put an end to ad-based monetization by mainly helping content creators while allowing the consumers to access content online easy.

Coil tweeted:

David Walsh is a senior software engineer at Mozilla, and this could be a step in the right direction for Coil, which is trying to improve content monetization.

Since XRP can better handle micropayments, Coil is using it to get work around the ad-based revenue model. A blog by Coil previously  stated:

“One of the reasons the ad-supported model is still so dominant is because payments technology wasn’t ready yet. Each payment currently requires multiple steps just to authorize it, let alone signing up with different merchants. We’ve worked with Microsoft, Google, Mozilla, and others to create the W3C Web Payments Request API that has been rolling out to billions of iOS and Android devices but we can go so much further.”

Moreover, with XRP and ILP, Coil can process a “trillion” transactions per second without any central authority. Stefan Thomas, the inventor of ILP and creator of Coil said:

“Instead of building yet another proprietary platform, Coil will be the first company to pay out to any website using Web Monetization, a new standard for how browsers can pay websites using Interledger.”

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