Tag Archives: Alipay

The Blockchain Arms Race

Sometimes the news gets out. Ideally, you don’t want your competitors to know what you are doing until you have the upper hand. Until you secure your territory. It becomes more difficult to dislodge a successful business, once they have staked their claim. But is that really true today – on the internet?

In today’s digital world, the internet, controlled by the various governments, corporations, groups, and even individuals, the territory can change hands in seconds. One cannot build a toll road and collect digital gold forever. Services change and if the money managers, credit card companies, investment houses, medical records companies, identification services and so on, do not adapt, they could find themselves on the physical streets.

This news has been circulating. AMEX is hiring a Sales Coordinator…related to their involvement with Ripple? What does it mean? 

It means that soon, when AMEX comes clean, they will send out a press release. The major networks will confirm the story and create, whether they want to or not, more of a stir. The crypto-markets will react. Right now, only the secondary news outlets and bloggers have picked up on it. Oddly, the AMEX job advertisement was later edited to delete the reference to Ripple.

XRP Chat has this write-up. It suggests a linkage between a Chinese business (Lianlian Group), Santander Ripple, and AMEX. Further research confirms this linkage.

According to The Camping Canuck, that AMEX will be utilizing Ripple, is at least a week old.

But the Lianlian Group connection with AMEX is also (actually) older, Circa 2012. They served about 300,000,000 million customers with digital wallets – mobile phone accounts, according to AMEX. It also looks like Lianlian (some of their companies) are headquartered in the Cayman Islands as well as Hong Kong.

According to a Coindesk article Lianlian International adopted Ripple’s xCurrent platform on February 7, 2018. And xCurrent does not utilize XRP’s, says Coindesk. The idea then is to move these players into the XRP based systems. If these XRP based platforms save them money, increase profits, this next step seems to be a no-brainer.

But the competition is heating up…

Alipay is also in the digital wallet business. It has secured 14 billion for blockchain development according to CoinTelegraph. Interestingly, Alipay’s Ant International, run by one of Asia’s richest men, Jack Ma, indicated that Bitcoin is a bubble. We keep hearing that. Ant International may roll out its own “AI” blockchain platform soon.

Compare Alipay with VISA. VISA has apparently disdained the blockchain and recently suffered a major outage in Europe. The two issues are probably not connected. Notably, blockchains are not as fast as centralized payment systems, but they do seem to be more secure.

Meanwhile, Mastercard has been obtaining blockchain patents and boasts a working blockchain solution.

So, this is more than a simple Credit Card war. The implication here, as always, is a Blockchain Arms Race. It continues to heat up. Picking the winner might be like changing horses in midstream. Personally, I don’t think many nations will trust an Ant International AI Blockchain coming out of China or Asia, but it might be the one to beat.

Thanks for reading…

JS

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