Ripple CTO Demystifies Tokenization, Stuns XRP Community
Ripple's Chief Technology Officer David Schwartz has delivered an impressive one-minute explanation on tokenization that has stunned and enlightened the XRP community. His lucid explanation of how tokenization can enhance efficiency in asset management has stunned the XRP community.
"If someone can’t explain something in 60 seconds, they probably don’t understand it," Schwartz stated in Ripple's insightful clip series "Crypto In One Minute," which explains a crypto concept within one minute.
In this particular clip, Schwartz explained how tokenization enhances efficiency within 60 seconds, proving that real understanding does not need a full minute.
Tokenization refers to the process of converting rights to an asset into a digital token on a blockchain. This can include anything from real estate and art to stocks and intellectual property. In his talk, Schwartz discussed the potential of tokenization to reduce risks connected with asset ownership and transfer.
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The XRP community's reaction to Schwartz's demystification of tokenization has been one of awe, with several commending his in-depth understanding of blockchain concepts and the speed of the delivery. The clarity and succinctness of his explanation seem to have resonated with the crypto community, as seen in the X comments.
The Ripple CTO's elucidation of tokenization has not only demystified a complex concept, but there is also a palpable sense of anticipation for the future. With the growing interest in tokenization, the XRP community is optimistic about the future and Ripple's potential to play a transformative role.
Ripple taking strides in tokenization
In February 2024, Zoniqx (previously Tassets), a pioneer in digital asset management, announced a collaboration with Ripple to streamline the tokenization process for real-world assets on XRPL.
This strategic collaboration harnesses the scalable infrastructure of XRP Ledger (XRPL) and integrates it with Zoniqx's Tokenization Platform as a Service (TPaaS) and Tokenization Life Cycle Management (TALM) solutions.
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As Ripple continues to push the boundaries of blockchain technology, the crypto community stands ready to embrace the new possibilities that tokenization might bring to the table.
How Will This Week’s US Economic Data Impact Crypto Markets?
Crypto markets have remained relatively inactive over the weekend, maintaining gains made last week in the wake of spot Ethereum exchange-traded fund approvals in the United States.
This week will see the release of more economic data such as consumer confidence and gross domestic product indicators.
Economic Calendar May 27-31
Monday is Memorial Day in the U.S., so markets will be closed, and low volatility is expected for crypto assets.
Tuesday will see the release of consumer confidence data which has improved slightly in May from the previous month with better-than-expected weekly jobless claims and manufacturing and services PMIs last week.
Thursday, we will see the Q1 2024 GDP Growth Annualized report, which provides an advanced estimate and insight into the economy’s health from the previous quarter.
However, the U.S. Bureau of Economic Analysis estimates that the economy has slowed to an annualized growth of 1.5%, slightly lower than initial estimates.
Key Events This Week:
1. Memorial Day, Markets Closed – Monday
2. CB Consumer Confidence data – Tuesday
3. Q1 2024 GDP data – Thursday
4. April PCE Inflation data – Friday
5. Chicago PMI data – Friday
6. Total of 10 Fed speaker events this week
Short but busy week ahead.
— The Kobeissi Letter (@KobeissiLetter) May 26, 2024
On Friday will be released April’s Core Personal Consumption Expenditures (PCE) report which indicates the average amount of money consumers spend monthly. Federal Reserve FOMC policymakers keenly eye this data as their primary inflation gauge and will use it to estimate whether inflation is coming down.
A related Personal Income and Personal Spending report for April is also due on Friday. This reflects the total value of personal income in America in addition to the value of purchases of all types of goods and services by consumers.
Consumer spending is a big driver of economic growth, so these reports can provide data on the overall economy and impact Fed monetary policy decisions.
There will also be a total of ten speeches from Federal Reserve bosses this week.
Wholesale giant Costco, software firm Salesforce, and computer firm HP are among the earnings reports to keep an eye on this week.
Crypto Market Outlook
Presidential candidate Donald Trump gave the crypto industry a huge potential boost over the weekend when he said he would support its future in America if elected.
This is surreal.
The leading Presidential candidate is explicitly saying he will make America the leader in bitcoin & crypto, while supporting the right to self-custody.
All the critics were wrong. The government won’t ban it, they’re embracing it.pic.twitter.com/XfvPu6C89m
— Pomp (@APompliano) May 26, 2024
However, it was not enough to move markets, which hovered around the $2.7 trillion market cap level over the weekend.
The Monday morning Asian trading session has been muted. Bitcoin has slipped slightly and sits just below $69,000 at the time of writing.
Ethereum prices were doing better, with a gain of 4% on the day to reach $3,900 after the ETF approvals, while the altcoins remained largely mixed.
The post How Will This Week’s US Economic Data Impact Crypto Markets? appeared first on CryptoPotato.
Mt. Gox Makes Surprise Return With Massive Bitcoin Dump, Crypto World on Edge
Defunct Bitcoin exchange Mt. Gox transfers $7.2 billion in Bitcoin.
Massive transfer raises questions amid ongoing creditor repayment process.
As of writing, Bitcoin is trading at a daily loss of 1.53% and a weekly decline of 4.87%.
Blockchain tracker Whale Alert reported that on the morning of May 28, cryptocurrency wallets controlled by the now-defunct Mt. Gox transferred approximately 107,547 BTC (equivalent to 7.2 billion USD) to an unknown wallet.
Whale Alert’s initial report detailed a transfer of 3,999 Bitcoins (worth roughly $277 million) from Mt. Gox to an unknown wallet. This move sparked significant interest within the crypto community, especially considering Mt. Gox’s ongoing efforts to reimburse creditors affected by its 2014 collapse. For those uninitiated, Mt. Gox was a Japanese-based crypto exchange that collapsed in 2014.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 3,999 #BTC (277,654,876 USD) transferred from #MtGox to unknown wallethttps://t.co/hIjDOB73kC
— Whale Alert (@whale_alert) May 28, 2024
Once one of the largest Bitcoin trading exchanges, Mt. Gox was forced to close after a major hack that affected over 24,000 customers and resulted in the loss of hundreds of millions of dollars in cryptocurrencies and cash.
Repayment procedures, initiated in late 2023 via PayPal, saw many clients receive compensation in Japanese Yen. However, according to an official letter from Mt. Gox trustee Nobuaki Kobayashi, the deadline for full repayment has been extended to October 31, 2024.
Whale Alert subsequently reported several other large transfers from Mt. Gox, including one of 8,239 BTC (worth $565 million), another of 14,057 BTC (worth $966 million), and yet another of 16,589 BTC (worth $1.1 billion).Despite these massive transfers, blockchain intelligence company Arkham Intelligence reports that Mt. Gox still holds 137,892 Bitcoins (worth over $9 billion). As of this writing, Bitcoin is trading at $67,848, reflecting a slight daily loss of 1.53% and a weekly decline of 4.87%.
The post Mt. Gox Makes Surprise Return with Massive Bitcoin Dump, Crypto World on Edge appeared first on Coin Edition.
Cryptocurrency is mainly used for crimes, and up to 90% of people are scammed by criminals in the cryptocurrency industry.
There are not as many scammers in any sector as there are in the cryptocurrency industry. There are all types of scams, and 80% of people join because of these scams.
1. Many criminals use the guise of financial management to engage in high-yield temptations, such as equity discs, illegal fundraising, illegal absorption of public deposits, mutual aid discs, discounts, private placements, public offerings, crowdfunding , pyramid schemes, etc.
What type of scam did you fall for? Interaction in the comments area
2. Many criminals use cryptocurrencies for money laundering, drug trafficking, weapons trafficking, human trafficking, etc.
If you want to know more about the money circle and cutting-edge information first-hand, click on the avatar to follow me. Players who have increased 10 times in a month can also follow me. Post market analysis every day and recommend high-quality potential coins.
At the 2024 consensus event #PayPal announced that its stablecoin Paypal USD (PYUSD) is now available at #Blockchain #Solana . With this decision they hope that the stablecoin will be faster and cheaper to use.
As is known, the @Solana Official blockchain has the characteristic of processing massive amounts of transactions at high speeds with extremely low costs. These features provide important benefits for commercial use cases.
For the senior vice president of the blockchain group, #Criptomonedas and Paypal digital currency José Fernandez de Ponte points out that “Making PYUSD available on the Solana blockchain furthers our goal of enabling a digital currency with a stable value designed for payment commerce” .
So far, apart from Paypal and Venmo wallets, you can acquire PYUSD at crypto.com, Phantom and Paxos.
👉Do you want to continue learning about the crypto world? Share and follow me for more 👈😎 $SOL
🚀Donald Trump, former US president, has changed his stance on cryptocurrencies, promising to protect the rights of the 50 million crypto holders in the country. At the Libertarian National Convention, Trump pledged to oppose the creation of a central bank digital currency (CBDC), a notable shift from his previous skepticism. Additionally, he promised to commute the life sentence of Silk Road founder Ross Ulbricht if he is re-elected president. What do you think of Trump's turn towards cryptocurrencies? Comment below! 💬
🚀 Bitcoin could be one of the best investments of all time! Despite predictions that BTC could reach between $100,000 and $3 million, data shows that investors are reluctant to spend their BTC and often have a bad time selling and buying.
DLC.Link CEO Aki Balogh discussed on The Agenda podcast how investors can benefit more from their BTC. Balogh explained that DLC.Link allows investors to “self-lock” their Bitcoin, creating BTC DLC on Ethereum that can be verified and used for investments.
This means investors can safely hold their Bitcoin while taking advantage of DeFi investment opportunities. What do you think of this new way of using Bitcoin? Comment below! 💬