Current Bitcoin Price: $3873 (as of 9:00 AM PST)
In total, the cryptocurrency market has fallen about one and a half percent today. Most cryptocurrencies are down in the one to three percent range, including Bitcoin, Ethereum, and XRP, while a select few digital assets are fighting the trend.
The Stellar project is an off-shoot of XRP, which is to say that it’s always had big, bold dreams of bringing blockchain technology to banks. In fact, Stellar have already been collaborating with IBM to create a collaborative product.
Although it wasn’t exactly “leaked”, it’s believed IBM Head of Blockchain Jesse Lund misspoke, revealing plans for 40-50 banks to use IBM’s Stellar-based World Service blockchain platform.
There are many applications for blockchain technology, and one of them is verifying the authenticity of products in the supply chain. We’ve already seen this happening with wine makers in France, but the possibilities are endless.
In fact, in January of this year, a mid-2017 Amazon patent for an interface which could be used to verifying the authenticity of products using distributed ledger technology was published.
The cryptocurrency community isn’t always the smartest, and many investors get carried away with hype and FUD alike.
That’s what’s been happening the last few days with Ripple. The Ripple Labs website has had some downtime, leading some users to believe the XRP network itself was toppling over and thus sparking chaos in the community.