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Ripple/XRP: European Parliament member talks about the benefits of blockchain and EU’s stance on digital assets




Ripple/XRP: European parliment member talks about the benefits of blockchain and EU's stance on digital assets
Source: Unsplash

Eva Kaili spoke at a Ripple Regionals event organized by Ripple at a hotel in London. Eva Kaili,  a member of the European Parliament spoke about Blockchain technology and how it’s disrupting a lot of the sectors and gave an insight into her entry into blockchain.

Speaking at the event, Eva Kaili talked about how she faced a lot of pushback from the first blockchain conference she attended in 2014 just because she was a politician. She continued that this made her more intrigued and curious to dwell deeper into the technology and learn more about it.

Kaili went on to state,

I believed that if we were not positive, the resistance of the traditional players would only increase and could even kill a technology that had so much potential for good.”

She further stated that there is a huge contrast between then and now and said that the scenarios had changed quite a lot. In addition, she continued that the regulation of blockchain and digital assets was well received by EU banks and leaders from different financial institutions.

Eva Kaili said that the reason why they had not turned a blind eye to this nascent technology was due to two reasons, the first being the growing mainstream acceptance to this technology by leaders across the world and the second was a result of EU’s new approach to regulation.

The defensive stance taken by world leaders and countries has changed quite a lot. Blockchain and digital assets [cryptocurrencies] are being accepted and even looked into by many huge firms and institutions.

Moreover, the central banks and the government are considering these technological innovations to change the existing framework, especially when it comes to cross-border payments or remittance or payments in general.

With Ripple’s blockchain payment solutions, the payments are getting cheaper, faster and more secure than previously imagined, and all that is left to do is for the regulators to embrace it soon.

A Twitter user @alex32059821 commented:

“A big news release today would be great with the pumping going on right now.”

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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.

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    February 11, 2019 at 2:24 AM

    no more funding and promotion for Bankera from Kaili ahahha she is a pump and dump evangelist EU parliament should be worried

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Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability




Source: Pixabay

Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.

Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.

It also stated:

“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”

The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.

This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the  XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.

A Twitter user @XRPCentre tweeted:

“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”

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