SBI Holdings’ Virtual Currency exchange platform VC Trade scheduled to launch this month has been postponed in light of new data that has resurfaced. According to the recent documents released by the SBI group, the launch is now scheduled to take place in July 2019. The document attached below indicates the same.
A Twitter user, XRP Research [@XRPCenter], commented,
“There are some positive slides in the presentation, though:
1)A separate entity will be created for MoneyTap promotion.
2)R3-Ripple collaboration reiterated.
3)Transition of S Coin platform to a global platform through Corda Settler integration.”
The exchange was first launched in July 2018. However, it restricted the withdrawal of cryptocurrencies and limited users from using the hardware wallet, referred to as “designated wallet” by the company. This was to ensure the compliance of AML laws and preventing money laundering or Terrorist financing, which is particularly tough with cryptocurrencies.
The exchange officially announced the feature to trade XRP, Bitcoin [BTC], Ethereum [ETH], and after careful examination, later allowed users to trade Bitcoin Cash [BCH] as well.
The XRP community on Twitter is eagerly waiting the launch of the aforementioned exchange and believes that it could propel the price of XRP, which is stuck at the $0.31 point for more than a couple of months now. The delay in the launch of the exchange has distraught fans.
A Twitter user, @block_real commented,
“Either something very flawed with the tech..possible..or they are waiting for America..good possibly”
@lionel46294550, another Twitter user commented,
“How can it be postponed when they said it’s going live in March is this some deliberate fud or what ?”
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Mozilla’s senior web developer testing out Coil and its monetization feature for his blog
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 (@Coil) May 22, 2019
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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