Blockchain
Ripple President Opens Up About SEC Lawsuit, RLUSD Launch, XRP Ledger Plans
Ripple president Monica Long talks about winning the US SEC v. Ripple Labs lawsuit, Ripple USD (RLUSD) stablecoin launch, strategy for XRP Ledger, and more in an interview. She opens up about the company’s developments and plans as the long-running lawsuit comes to an end, with XRP gaining clarity from the court that it’s not a security.
Ripple Gets Clear View As SEC Lawsuit Is Over – Monica Long
The U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs has ended and the court ruled that XRP is not a security. Monica Long said the victory is significant for the entire crypto industry, setting a precedent and bringing more clarity on rules.
CEO Brad Garlinghouse and Long had earlier affirmed that the setback, stringent regulatory outlook and intense scrutiny led the firm to look offshore for growth. The company now records major growth outside the United States, with 40% activity in Asia.
Currently, the U.S. SEC is likely deliberating to file an appeal in the case, as per the former SEC lawyers Marc Fagel and James Farrell. Pro-crypto lawyers such as Fred Rispoli believe the SEC could file a last-minute appeal near October 7. An appeal on secondary market sales has higher odds.
RLUSD Stablecoin Launch This Year
Ripple president said the RLUSD stablecoin will launch this year and only awaits greenlight from the US regulator. She cleared that one of the main use cases for RLUSD is settlements, reported Coindesk. Developers using XRPL should be able to use Ripple USD for transactions.
Long cleared that the stablecoin will not impact XRP’s market share in payments. The payment service already uses both XRP and stablecoins for liquidity, which happens at the backend.
“We believe stablecoins and XRP have different use cases for payments and other transactions. For example, DEXs on XRPL will be able to use RippleUSD very efficiently, while XRP will continue to be used for transactions with long-tail, smaller market cap crypto assets.”
RLUSD will be for financial institutions and institutional investors. The stablecoin is backed by US dollars, short-term US Treasury bills, and other cash equivalents held in a reserve account. Standard Custody & Trust will ensure transparency and issue regular certificates.
As reported by CoinGape, Brad Garlinghouse sees RLUSD launch opportunity in Japan and countries with favorable regulations.
Ripple President on XRP Ledger Plans
The XRP Ledger (XRPL) is an enterprise-grade blockchain and has broader advantages. These include automated market makers (AMM), decentralized exchanges (DEX), and compliance features.
“We are also looking at ways to bring programmability to XRPL in a native way – for example, we think, and the community thinks so too, that there is a lot of potential in “Hooks” to bring smart contracts to XRPL.”
Ripple CEO Brad Garlinghouse talked about the successful relations with Japanese financial giant SBI Group since 2016. In addition, the partnerships will increase adoption of XRP and XRP ledger in Japan.
The company is also beta-testing RLUSD on both the XRPL and Ethereum network. Recently, Ripple issued two substantial batches of its stablecoin, each containing 485 RLUSD.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
- Bangkok will host the Open AGI Summit on November 13 alongside DevCon 2024.
- The summit focuses on ethical AI development through decentralized governance models.
- Prominent speakers include Pramod Viswanath and Sandeep Nailwal from leading firms.
Bangkok is set to be the epicenter of innovation as it hosts the Open AGI Summit on November 13, 2024, in conjunction with DevCon, a major blockchain developer conference.
These unique events aim to explore the intersection of Artificial General Intelligence (AGI) and decentralized technologies, fostering dialogue about the ethical implications of AI in a rapidly evolving digital landscape.
Supported by flagship partners including Google Cloud, Sentient, Polygon Labs, and SCB 10X|SCBX, the Open AGI Summit promises to engage both AI and blockchain communities.
All eyes on the Open AGI Summit
As the world advances toward AGI, concerns about centralized control and potential societal risks are becoming increasingly prominent. The Open AGI Summit seeks to address these anxieties by examining how decentralized, blockchain-based governance models can lead to safer and more transparent AI development.
By emphasizing collaboration and ethical dimensions, the summit aspires to ensure that AGI serves as a tool for universal benefit and prosperity.
The summit will feature prominent voices from the fields of AI, blockchain, and web3, including Pramod Viswanath, a professor of engineering at Princeton University, and Sandeep Nailwal, co-founder of Polygon.
Nailwal highlights the critical decision society faces: to allow a handful of corporations to dominate AI technology or to embrace a future where AI is open, transparent, and accessible to all. He asserts that blockchain technology can ensure the equitable distribution of AI benefits, guided by collective values.
Discussions at the summit will cover essential topics, including advancements in AI safety research, decentralized governance structures, and ethical considerations in AI development.
Attendees can expect a deep dive into the innovative synergy between AI and blockchain, emphasizing emerging applications that could redefine industries.
Ultimately, the Open AGI Summit aims to bridge the gap between academia, industry, and the decentralized AI community, fostering collaboration towards responsible AGI development.
This convergence is essential for ensuring that AI technologies are built with a commitment to ethical principles and societal benefit, marking a significant step toward a safe and beneficial future for AGI.
- Bangkok will host the Open AGI Summit on November 13 alongside DevCon 2024.
- The summit focuses on ethical AI development through decentralized governance models.
- Prominent speakers include Pramod Viswanath and Sandeep Nailwal from leading firms.
Bangkok is set to be the epicenter of innovation as it hosts the Open AGI Summit on November 13, 2024, in conjunction with DevCon, a major blockchain developer conference.
These unique events aim to explore the intersection of Artificial General Intelligence (AGI) and decentralized technologies, fostering dialogue about the ethical implications of AI in a rapidly evolving digital landscape.
Supported by flagship partners including Google Cloud, Sentient, Polygon Labs, and SCB 10X|SCBX, the Open AGI Summit promises to engage both AI and blockchain communities.
All eyes on the Open AGI Summit
As the world advances toward AGI, concerns about centralized control and potential societal risks are becoming increasingly prominent. The Open AGI Summit seeks to address these anxieties by examining how decentralized, blockchain-based governance models can lead to safer and more transparent AI development.
By emphasizing collaboration and ethical dimensions, the summit aspires to ensure that AGI serves as a tool for universal benefit and prosperity.
The summit will feature prominent voices from the fields of AI, blockchain, and web3, including Pramod Viswanath, a professor of engineering at Princeton University, and Sandeep Nailwal, co-founder of Polygon.
Nailwal highlights the critical decision society faces: to allow a handful of corporations to dominate AI technology or to embrace a future where AI is open, transparent, and accessible to all. He asserts that blockchain technology can ensure the equitable distribution of AI benefits, guided by collective values.
Discussions at the summit will cover essential topics, including advancements in AI safety research, decentralized governance structures, and ethical considerations in AI development.
Attendees can expect a deep dive into the innovative synergy between AI and blockchain, emphasizing emerging applications that could redefine industries.
Ultimately, the Open AGI Summit aims to bridge the gap between academia, industry, and the decentralized AI community, fostering collaboration towards responsible AGI development.
This convergence is essential for ensuring that AI technologies are built with a commitment to ethical principles and societal benefit, marking a significant step toward a safe and beneficial future for AGI.
LocaChain, the pioneering blockchain platform designed for the digitization and management of tangible assets, has officially launched its mainnet. This marks a significant leap in blockchain technology with applications spanning various sectors, including real estate, bonds, and other high-value assets. LocaChain aims to build a complete ecosystem focused on advanced, sustainable solutions to meet global economic development needs through tokenized assets.
Revolutionizing Real-World Asset Management
With its mainnet platform, LocaChain offers a secure, scalable, and efficient infrastructure that facilitates the digitization and management of tangible assets like real estate and bonds. This allows for fast and transparent transactions, enabling investors and businesses to save both time and costs. Asset tokenization provides superior asset management solutions with transparency and traceability, building strong trust among all participants.
Key Features of LocaChain
Beyond asset management, LocaChain offers a diverse suite of features, positioning the platform as a comprehensive solution for businesses, developers, and users. LocaChain’s core functionalities include:
Core Infrastructure & Application Development
- DApp Development: LocaChain supports an environment for decentralized application (DApp) development, enabling businesses and developers to create real-world blockchain applications across various sectors.
- Wallet Integration: Securely store and manage assets on LocaChain.
- Token and NFT Transactions: Smooth token and NFT exchanges within the ecosystem.
User Engagement & Social Features
- SocialFi Integration: Adds social finance features to enhance user engagement on LocaChain.
Asset Management & Product Traceability
- Real-World Asset Digitization: Tokenize high-value assets such as real estate and bonds for secure and efficient management.
- Product Traceability: Provides end-to-end product traceability, ensuring the reliability and authenticity of goods across various industries.
- NFT Vouchers: Businesses can issue and manage NFT-based vouchers, offering a dynamic, digital way to reward customers and build flexible loyalty programs.
Marketplace & Transactional Features
- NFT Marketplace: Integrates an NFT marketplace where users can trade digital assets using LCG as the main token and LCC as the gas fee.
- E-commerce and Auction Applications: Supports e-commerce and auction platforms, enabling businesses to list, sell, and manage products transparently on the blockchain for enhanced transaction credibility.
Advanced Token & Financial Tools
- Multisend Token Feature via TrustKeys: Facilitates multi-token transfers, allowing users to efficiently distribute tokens to multiple recipients.
- Multi-Token Staking: Users can stake various tokens within the LocaChain ecosystem to earn rewards.
- Bridge to BSC: Provides a bridge for seamless asset transfers between LocaChain and Binance Smart Chain (BSC), enhancing interoperability with decentralized financial services.
- Crypto Payment Gateway: Supports integrated crypto payment gateways, allowing businesses to accept cryptocurrency payments and optimizing global transactions in a digital-first economy.
LocaChain in LocaGo Ecosystem
LocaChain serves as the blockchain backbone of the LocaGo ecosystem, designed to connect users and businesses through blockchain and AI technology. The LocaGo ecosystem encompasses multiple applications to enhance interaction between businesses and customers while increasing community engagement in real-world economic activities.
With its mainnet launch, LocaChain goes beyond asset management to become a vital part of a comprehensive digital ecosystem, offering optimal solutions for businesses and users in managing tangible assets and conducting transparent transactions.
For more details on LocaChain and LocaGo ecosystem, please visit the official website at https://locachain.io.
Contact
For media inquiries, partnerships, or further details, please contact:
LocaGo Media Relations
- Email: contact@locago.tech
- Website: https://locachain.io
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