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Can Blockchain Technology disrupt Law?

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Blockchain Law

This is part of our major series on Blockchain Technology and its impact on different industries. In this article we will look at Blockchain Technology’s impact on Law. Access the main article: What is Blockchain and its impact on various industries
Highlight and Share any textA quick overview of the profession

The legal profession is known to be a significant contributor to the wider economies of the US and UK. In 2017 UK legal sector alone employed 315,000 legal professionals and was valued at 32.7 Billion which was a 3.8% increase over its market value in 2016. Further modest growth of 2.8% is expected by 2020.

The American legal sector currently employs 1,338,678 legal professionals.

With so many litigators, U.S. ranks among the Top 5 most litigious countries. However, the legal services operate in a fragile manner leading to legislative complexity. The rising count of litigations and related legal costs are jeopardizing the economic state of nations.

According to the Federal judicial caseload in U.S. report of 2017, the appeal filling went up by 10% to 58,951. The numbers are alarming. As the number of litigations is rising, the cost of litigation is also magnifying which has a direct impact on the micro aspects of the economy like car insurance prices, tax advice, and legal solutions.

The complexities are multi-faceted.

As per a survey conducted by the International Survey on Dispute Resolution in Technology Transactions, court litigation is a price intensive task as compared to arbitration and mediation. According to the estimates shared by the respondents, average litigation takes 3 years to be resolved. Due to the system inefficiencies, legal battles the costs incurred surpassed USD 475,000 in home jurisdictions and USD 850,000 in other jurisdiction.

With these complexities, the business executives and other participants end up wasting their productive time.

Time consumption - Blockchain TechnologyLooking at another example from world’s largest democracy, the Indian judicial system is no different where since a decade 60,000 cases are pending in Supreme Court of India, 4.2 Million cases are pending in High Courts, and 27 Million cases are pending in the District and Subordinate Courts. In India, the government is the largest litigant in India.

The legal system across the globe is in need of technical support that will address the core issues like the accuracy of judgment, the speed of the system, transparency of the judiciary set up, a jam-free case clearance system, court file integrity management, instant and trackable penalty payment set up.

Blockchain technology is expected to address the challenges of the legal profession. The decentralization and immutability offered by Blockchain Technology could help mitigate the inefficiencies of the judiciary ecosystem.

Possible use cases of Blockchain in Law

The legal system is paralyzed by the administrative burden, corruption, backlog of pending cases, lacking transparency, growing queue of detainees awaiting trial and more. Let take a closer look at how blockchain can help the legal system get rid of its inefficiencies:

Shorten the Time of Dispute Resolution

stop wasting time - Blockchain TechnologyIn Jan 2018 Financial Industry Regulatory Authority (FINRA) received 240 customer and 80 Intra-Industry new case filings. Despite solving 330, the backlog figure of pending cases was around 4,512. The overall turnaround time of the dispute resolution rose up by 6 months in 2018.

There is no fall in the dispute resolution time despite the overall lawyer population going up by 0.2% across the US. All the more, the number of open dispute cases rose up by 10% from Jan 2018 to Jan 2019.

The disputes keep coming in from multiple domains but the legal system is using legacy systems to handle the administrative load that adds to the dispute resolution time. The court systems are working severely under austerity. To quote an example since the last decade for the US immigration court system the workload has inflated by 146 percent. Surging the average pendency per case to 627 days. Working a paper-based system, the court system is turning more sluggish. In the UK every year 365 million pages are generated by the judicial system which adds to the cost and resolution time of legal cases. The bureaucratic structure and intermediaries are adding to the wait time. Many times a single missing legal document led to case adjournment considering it as the situation of insufficient evidence.

According to a study, almost 65% of the legal professionals agree the paper-based judiciary system needs to be replaced by a trustless automated system.

Project: LegalThings

Legal Things LogoBlockchain projects like LegalThings bring automation to the legal system by securing each legal document signing event on the blockchain. The adoption of such systems not only makes the entire value chain paperless but ensures the access to legal documents is almost instant and secure which will bring down the case resolution time down significantly.

Bring down the cost of the legal system

Almost 9/10 Americans have shared the statement that the current cost of legal services is severely high. As per the 2019 repost by NewYork Times, the case fee charged by the private litigators is overwhelming leading to overburdening of public defenders. In the state of Louisiana, each public defender is handling 413 felony caseloads which are 3-4 times the average caseload.

The overburden has a severe impact on the legal system leading to the inefficient defense of defendants.

The situation is no better in judicial systems of growing economies like India where the additional cost of litigation per litigant is INR 861($12.31) due to inefficiencies of the system. When aggregated over a year, these productivity losses surpass 7.1 Billion USD.

Blockchain promises transparency which can be utilized to build platforms to network the lawyers and the people who require the legal service. As the intermediaries will be eliminated from the ecosystem and the legal fees will also be competitive enough to make justice affordable for all.

Project: Legaler

Legaler logoLegaler, the blockchain platform signed up more than 1,000 legal firms across 80 countries. The flagship app Legaler Aid of the initiate will aid people who can’t afford legal advice from the network of the legal firms it has. The legal service providers who are willing to offer pro-bono services will receive the tokens of Legaler platform as an incentive.

Corruption in the legal system

Corruption in legal - Blockchain TechnologyIn 2013, the Texas state convicted a judge of the act of bribery that amounted to be more than $250,000. The stats may be old but nothing much has changed, according to research conducted by Pew Research and Yale Law School, 2.5 million bribes are paid in the U.S. Justice System every year.

The impact of such a scale of corruption is leading to unfair trials because of which 2.3 million people have ended up in prison without ever going to a trial. While many judiciary systems have identified the advocacy objectives, it requires the support of a recording system which will time track each activity that happens in the judicial system.

Blockchain comes with a ledger that is immutable and can record all the activities with a time stamp. If the bribery act tries to penetrate the system, it would require the recorded entries to be altered. As all such activities can be tracked, no one can anonymously change the entries to overrule lawful acts.

Development in Spain

SpainSpain, the European Union’s lowest-ranked country due to its high-corruption rate is amending its anti-corruption laws and utilizing the support of blockchain to implement the new laws. EU Blockchain Observatory and Forum has invested almost 80 million euro into Blockchain and AI projects to fight against corruption in both the private and public sectors.

Enhance the response time of agencies that support justice

The lawmakers or litigators depend on agencies like FOIA (Freedom of Information Act). The lawmakers put across a request for information that is crucial for litigation. But the system currently takes 20 days to process each request. The lawmakers and the system pays high fees to the system and after a long wait receives redactions. To make the process efficient government spends $500 million every year on FOIA but more than 93% of the cost is spent on the traditional request processing system alone.

The system offers no transparencies to the lawmakers which is indeed a troublesome situation. The impact of slag in accessing the correct information is so severe that it adds to the resolution durations which defeats the purpose of existence of FOIA.

The introduction of blockchain solutions such organizations will significantly bring in transparency and speed to the access of information. There will be no information manipulation as all the information will be secured by the blockchain.

Project: Recordkeeper

Record Keeper LogoRecordkeeper is a full suite of record keeping infrastructure based on by blockchain. The system supports well-structured and easily accessible data in a highly encrypted and secure manner. The integrity of data will be always maintained as the distributed ledger is impenetrable.

In conclusion

It is hard to deny the blockchain technology seems to hold a lot of promise to iron out the inefficiencies of the legal set up. It has proved to be the necessary toolkit to address the issues like inflation in legal fees, delays in trials and judgments. The time is ripe to reinvent the legal system with blockchain solutions.

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3 of Our Favorite Ways For Passive Crypto Income

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Passive Income

What is your crypto endgame? 

Ours is simple.

  • Make decent profits in the coming bull market (and not repeat same mistakes as we did in 2017)
  • Invest the profits into assets that generate passive income
  • Continue to learn, grow, invest and repeat

While thinking about our endgame, it struck us that we don’t have to wait for the market to take a bullish turn or to sell to convert gains into passive income.

We can earn passive income while holding crypto and not worry about the market ups and downs.

We are sharing the ways we found to earn passive income in the hope that it will give you some ideas.  

Disclaimer:  We are including referral links below (but we are not listing these because of referrals).  We have owned the below projects for quite sometime now. Just because we think of these projects so highly do not guarantee results. DYOR.

1. Earning interest income by simply holding the crypto

US interest rates are historically low now.  

We have speculated that we will see negative interest rates once Digital Dollar becomes a reality.  

There is really no good way to create a sustainable economy without bringing negative rates and forcing people into the system.

While you cannot make any real interest income from your savings account in the US (and most western countries) there are ways you can earn interest on your cryptos. 

Here are two we come to rely on: 

BlockFi

Blockfi

BlockFi provides the wealth management products cryptoinvestors need, all powered by blockchain technology.

Celsius

Celsius Network logoCelsius Network lets you buy coins, earn interest on your crypto and instantly borrow dollars at 1% APR against it. No fees ever.

2. Cryptos that actually pay you income (like dividends)

While earning interest on your bitcoin and USDC deposits is awesome, there is yet another way that is better, in our opinion, than holding crypto in the accounts.

KuCoin Shares

KuCoin is one of the popular crypto exchanges in the space.

We have been using and talking about Crypto for years now.  What we particularly like about KuCoin Shares (KCS) is that it pays the profits generated by the exchange back to KCS holders in the form of KCS tokens.

For example, if you held a 1000 KCS on the exchange, you earn about $.80 cents to $1, depending on the trade.

It might not sound much to you but think about it.  

1000 KCS cost you around $1300, and 80 cents a day translates to $292. That is about 22% interest per year.

That is even before compounding the KCS you receive that in turn increases your share in profits.

Ontology

A blockchain for self-sovereign ID and Data.

3. Free Crypto is still income

Earn.com

How to earn on CoinbaseNow acquired by Coinbase, Earn.com gives you an opportunity to earn crypto by simply responding to quiz questions.

Last rollout had over $180 in cryptos.  Even now, there are over $100 available in earnings for doing courses (and completing quiz).

You can register here.

4. Bonus

Big things could be coming or a total failure. Big industry, great team, actual products, good market, amazing addressable market size.

PundiX

Providing a borderless payment ecosystem beyond fiat.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Chasing the Micro Cap Crypto Gems #4 – Skrumble Protocol – Why We Changed Our View On This?

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Micro Cap crypto Gems

The tricky thing about finding micro-cap gems is that we have to find something that fits our crypto framework criteria and still be under $10 Million in the market cap.   

The project that we picked today had a few flags while we were researching and we promptly reached out to the team to clarify.   

You will see our initial views/opinions based on publicly available information and the response from the company.

What is Skrumble Network?

What is Skrumble NetworkThe core concept behind Skrumble Network is that when data is stored in one centralized location (like a Server) it poses the greatest security when it gets hacked.

However, if your data is fragmented and stored on decentralized servers, even that particular decentralized server gets hacked, your data is still secured because the fragmented piece that got hacked is usually incomprehensible.

Skrumble Network helps decentralize the communication protocol by using Blockchain technology.

Skrumble Network helps facilitate File transfers, secure messaging, Video streaming and calling.

how Skrumble network works

Whitepaper describes: “Skrumble Network is a secure, communication-centric blockchain, decentralized communication application and a communication layer for developers to add into any application. With no middle entity or centralized server host in between to censor, block or manipulate any data, Skrumble Network will enable open, global private communication and transactions that are truly community owned and operated.”

One of the distinguishing factors about this project was that it was initially developed with an established company behind this crypto that has been in the business for more than half-a-decade and they know how to deliver a product that is used in the real business world.

Applying our framework

As is our custom, let’s apply the CryptoTapas framework around this project.

Problem

The security around our communications is as old of an issue as the internet itself.

This concern has become more pronounced in the recent years with the news of hacks and breach of confidentiality, and utter disregard for privacy.

Now that COVID has completely changed the way we work (especially working from home), the security around communications is now taking the spotlight again.

If Skrumble Network addresses this issue in a novel, scalable and easy to implement way – it might have a great chance at this massive problem.

Team

Eric Lifson seems to be working on Skrumble Network for over 3 years now, and he was quite accommodative when we reached out to him with questions. 

When we looked at the team page on the Skrumble’s website, with the exception of three members, everyone who is listed on their team’s page is no longer with the company (some since July 2019) and this disappoints us that they have not updated their own team’s profile.

Skrumble Network team

More importantly, if everyone jumped the ship, who is behind the project now?

The flagship app on Skrumble Protocol, GetAlly, shows the team members that are also associated with Skrumble Protocol, however, most of these team members are no longer with Skrumble.

Question for Skrumble Team: Who is working on this project? What is the current team structure?  

[Update: The project informed us that all these people have at one point worked on the project. While the team has downsized to a team of about 6 core people, SKM has a strong brand and past and present members prefer to maintain recognition of their achievements. Moreover, several are still contributing, just not on a full-time basis. Any who do not, the team offers to remove them at any time. This is now more in line with how ongoing DAOs (Decentralized Autonomous Organizations) seem to be operating.]

Partnerships

Skrumble Network’s Ally dApp claims to have a 150K user base.  They also teased about the upcoming partnership to take the DeFi initiative forward.

We actually like the advisor profile associated with the Skrumble Network project one of whom is Anthony Di Iorio, co-founder of Ethereum.

Apart from Anthony, Skrumble has Jeff Pulver who is the co-founder of $3 Billion communication company, Vonage.

That is quite a respectable name association with Skrumble.

Question for Skrumble team: Have there been any changes in the Advisor group (similar to team changes?).

[Update: No. We also still Jin Tu – former CTO of Aion, OAN boardmember and Cofounder of Axis DeFi, who is an Expert Blockchain Architect. 

Redouane Elkamhi,
PhD, Associate Professor at Rotman
Leader in Fintech & Blockchain at the University of Toronto 

Kevin Hsu,
Founder Partner at BlockVC
Investor in Ontology, RSK & QTUM 

Jiangang Wu, PhD
Co-Founder of Fusion
Professor of Finance & Blockchain Economics at Shanghai University] 

Addressable market size

Secured communications, whether it is simple file sharing service or video streaming or chatting is a huge market.

It has only exploded in value in the past few months when people were forced to communicate over the internet instead of in-person meetings.

This trend will only become the norm as the internet becomes more accessible (Elon’s Starlink reality) and companies start restricting travel.

File transfers, messaging, video streaming and calling verticals market size is in $100s of Billions, if not trillions.

Revenue model

Question for Skrumble team: How does Skrumble Network generate revenue?

[Update: The core problem for SKM has actually been the volatility of the utility token model in general. We will address this in more detail later.]

DeFi + Communication?

Skrumble Network’s official blog was silent since October of 2019, although remained very active on Telegram, and resurfaced with an announcement that Skrumble Network is going DeFi. 

The announcement about a partnership with Juggernaut reads “unique custom financial modelling and DeFi deployment, it can enable token projects to have real, sustainable, and modular business models built around their utility model.”

Is this another attempt to exploit the market craze around DeFi?

We asked the team this question directly.

Skrumble Network Roadmap

Question for Skrumble Network Team: What drove this decision to look at DeFi and what unique attributes do you think will help Skrumble succeed in this space? 

How does this Juggernaut help Skrumble’s vision?

[Update: Really, we see two sustainable business models so far in the space – 

  1.     platform tokens (for exchanges) with only room for a few like Huobi or Binance
  2.     DeFi due to the collective staking, lockup and general collateralization of new directions and ability to focus on new industries.

A two-token solution is the only way to do something meaningful and sustainable in my opinion with a utility token. One for utility and one for profit sharing. They are missing the sustainable business model. They don’t have enough usage to reach a critical mass and the DeFi synthetic at least has a chance to have something closer a traditional ‘share’ balanced approach. 

Most proof of stake with inflation models will reach a point where one has to ask where any utility token can be able to sustain beyond initial interest 

This is why we must change the game. 

Basing anything on a pure utility token that fluctuates is basically unsustainable. This is because when people are in the money they just leave to the next hot project. People who operate in DAOs want something more stable to base their livelihoods on. They want something closer to USD that can be more stable and scalable. 

This is an overview of how we see DeFi becoming a crucial component going forward:https://medium.com/juggernaut-defi/skm-partners-with-jgn-to-develop-first-defi-communication-network-20ba9a3ccf38 

What do we like about Skrumble?

We like the fact that Skrumble Technologies has been a technology company since 2014 and it has leveraged some technology and strategic guidance from them in their initial inception.  It has real business with actual clients in the market.  How many of the 6500 cryptos can claim that? 

Additionally, the company has patents to its name and helps them deploy proprietary solutions in the market. 

In addition, we like that the co-founder is quite active in working on building Skrumble Network up. 

You can go to the Telegram and see him responding to the questions posed by the community. 

When we reached out to Eric, he provided a quick ‘highlight’ of Skrumble for someone who is new to the project, we have reproduced what Eric shared with us below (we have not independently verified this information): 

Skrumble Network is reshaping freedom of speech and data privacy with a communication-centric blockchain due to our unique PoA architecture, formidable global community, robust proprietary chain, accomplished advisors, and top-tier exchanges. 

🤝PoA consensus model: Aligning incentives and encouraging active community participation

💪Innovative chain and base layer: Enabling other dApps to be built on top of Skrumble Network. First dApp- Ally already has 150k+ users with more coming soon

🙋🏻‍♂️Industry-leading advisors: Including Anthony Di Iorio (Co-Founder of Ethereum) and Jeff Pulver (Co-Founder of $3B Vonage), Jin Tu (CTO of Aion), Redouane Elkamhi, PhD (Lead of Fintech & Blockchain at the University of Toronto), Kevin Hsu (Partner, BlockVC)

🥇Trusted and premier exchanges. Won Huobi FastTrack vote last week with over 40 million votes. Counting Gate.io, Huobi Global, Bittrex, LBank, Coinbene etc as our exchange partners

🎖Ranked by ICO Drops for both top 5 global community and ROI in Q22018

🗳Won Huobi FastTrack with 40M+ votes on June 27 19

👑Massive dApp ecosystem coming soon with innovative token economic details

🦁DeFi component / partnership incoming 

Things to consider

Apart from the general risk that is inherent with the crypto space, consider the following when you DYOR on Skrumble Network. 

Competition

Few blockchain/crypto companies have tried to take a stab at the ‘secured communication’ aspect using blockchain. 

We have not yet heard the great success story in this space. 

This is good news and not so at the same time. 

It is good news because Skrumble Network could be THE project that penetrates the ‘success resistance’ in space. 

It is not so good news because the same reasons that lead to the failure of previous projects could plague Skrumble Network. 

Team changes

Exodus of team members from the Skrumble Network is a point of concern for us.  We are going to update this section with the response from the Skrumble Network team (without removing this concern from here). [Update: It seems that several are still involved in a part time basis, and they claim to have streamlined their operation. They are also actively working with the Juggernaut (JGN) team to implement the DeFi rewards system. For more details on JGN please see here: https://jgndefi.com/ 

Token supply

While the market cap is what matters the most in terms of the potential multiples, crypto space seems to be very touchy about the token supply. 

Token supply on Skrumble Network (SKM) is 1.5 Billion and might be looked at as quite high.

All tokens have been released to the market. In this space, the actual token supply amounts are becoming far less important. This was a pretty standard number in 2018 and was advised to the team. 

Team is expected to release more token utility and use cases as per the information alluded to by Eric and depending on the future use cases the market might respond positively. 

Moving to a more stable way of incentivizing operators may innovate the DeFI space beyond pure finance and into other industries as we rediscover how we share and perceive value. 

This is an overview of how we see DeFi becoming a crucial component going forward: https://medium.com/juggernaut-defi/skm-partners-with-jgn-to-develop-first-defi-communication-network-20ba9a3ccf38   

Conclusion

Our first impression is that Skrumble Network looks like a project with a lot of potential.  However, potential means nothing until it is ‘realized’. 

Will Skrumble Network realize its potential?  We do not know and that is the dilemma we have to ‘risk’ when dealing with micro-cap gems.

Thank you for reading and sharing this article. We appreciate you.

Also read:

Chasing the Micro Cap Crypto gems #3 Phantasma is Aiming to do it All!

Chasing the Micro Cap Gems #2: aXpire, a Blockchain Business with a Working Product

Chasing the Micro Cap Gems #1: TRIAS aims to bring Trust in Technology

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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5 questions we want XRP army to answer!

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xrp investing news

What follows is our opinion.  

Let’s not be hostile.  

Top 5 Cryptocurrencies 2020

We are simply posing some questions based on the information we came across and our own limited interpretation. 

It is quite possible that the sources we are referring to are at fault or our interpretation is. Either way, just answer these questions for us so that we can learn new things about XRP that we did not know.

Our readers know that we have been anti-XRP for a long time. We got trolled, mocked and called ignorant. Well, to each their own.

Our questions to the entire XRP army are simple, here they are:

Question 1: If crypto was to replace (or at least reshape) the entire banking business then what does a token whose sole business model is based on ‘accommodating’ banks have any future?

To put differently, when the world starts conducting commerce via text messages why do we need banks and Ripple which wants to serve banks?

Our basis for this question: 

In the future when we will start doing business with each other over text messages, wallets and email signatures, why do we need a payment gateway from Ripple?

We know that WeChat payment enables users to transact over chat.  Other companies are trying to catch up with this (primarily why Facebook was looking at creating its own currency, Libra).

However, once we have a digital dollar, we do not even need an outside stablecoin since one could, in theory, use the digital dollar directly.                  

Question 2: Why do you have to pay businesses to use XRP if it is so superior?

Our basis for this question: 

Financial Times reported that Ripple paid Moneygram to use Ripple technology.

Here is a direct quote:

It turns out Ripple has been paying a significant amount of subsidies cash to MoneyGram’s business since buying into the company in June. In the third and fourth quarter alone the Ripple benefits amounted to $11.3m.

What’s more, until a consultation with the SEC**, MoneyGram had been more than happy to book these cash flows as revenues. Due to the SEC guidance, however, it has now had to restate fourth-quarter guidance to account for Ripple payments as “contra expenses”.

XRP Twitter

Question 3: What is Ripple’s revenue worth without the ‘selling’ XRP?

Our basis for this question: 

The question seems to be answered by the XRP’s CEO himself. Here is an excerpt:

Asked if XRP was keeping everything cash flow positive at Ripple Labs, Mr Garlinghouse answered: “Well XRP is one source. I don’t know how to answer that because if you took away our software revenues, that would make us less profitable. If you took away all our XRP, that makes us less profitable. So I don’t think about it as one thing.” 

He clarified later: “We would not be profitable or cash flow positive [without selling XRP], I think I’ve said that. We have now.”

In our opinion, we think that the only reason Ripple (XRP) is even operational is because of the billions upon billions of XRP tokens that they keep dumping on the unassuming investors.  

Is this a wrong assumption?

Question 4: If Ripple does not need XRP, why is XRP needed?

Our basis for this question: 

This is based on our understanding that Ripple’s technology can be used by the businesses without having to use XRP.  It is recommended but not ‘required’.

Is this accurate?

Ripple’s solutions can work without XRP (its native token).  So, if XRP is not a utility token in strict sense, how are its creators able to mint and sell them at will without tripping any security laws?

Question 5: If Ripple [XRP] is to act as the ‘stable’ value while the transactions take place on Ripple network, why should anyone trust XRP which is backed by nothing instead of stablecoins like USDC that are backed by real world assets?

Our basis for this question: 

We would personally trust USDC more or even Facebook’s Libra rather than XRP which is backed by nada.

This is what Demelza’s opinion was during our interview:

“The main point is that if XRP were able to back their currency with financial assets and stabilize the purchasing power of the currency, then that would mean XRP coins should have no price appreciation. In fact, only the equity shares of Ripple Labs would profit from XRP’s adoption as a global reserve currency. But Ripple Labs is a privately held company. After fully understanding what XRP is, one realizes that XRP’s investment pitch does not make sense at all.”

Conclusion

We are trying to convince ourselves as to why we need Ripple in the crypto space if:

  • Future of payments is going to be ‘self-bank’ & over the chat
  • There are better stablecoins in the market 
  • Ripple itself as a technology doesn’t need its own native token, XRP

For this very reason, our opinion is that the money will flow out of XRP and the creators will keep dumping their bags into the market until the market can no longer absorb it and then it will be ‘lights out’.

We await for the XRP army to provide us insights that we did not know and our opinion changes…

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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