Hype-train 🚈 or struggle-bus 🚚 ... your choice - TheBit

Get crystal clear crypto news straight to your inbox  

Hype-train 🚈 or struggle-bus 🚚 … your choice



Ripple CEO – dropping knowledge or just being salty?

 

The Bit

Brad Garlinghouse interviewed on CNBC’s “Power Lunch,” where he was put on the spot about the cryptocurrency market and XRP’s place in it.

 

The Bigger Picture

Ripple’s native currency XRP has been underperforming most other top cryptocurrencies… which are all already not doing very well so far this year. It dropped around 70% in value vs. 50% for most other top coins. Garlington stuck to the facts, stating that it is still a young industry and that soon there will be less correlation between the price of Bitcoin and all other cryptocurrencies. This is likely to happen, especially in terms of Ethereum’s growth and ability to buy the coin directly with fiat – as well as all the dapps coming out for the network. But lets hope for Garlington’s sake that XRP’s lessened correlation with BTC doesn’t continue in the same direction…

 

Monster who? Sorry I only wear Beats or Bose bruh

 

The Bit

You ever buy one of those HDMI cables from Best Buy for like $75 and then your friend says they ordered one online for like $15? It was probably a Monster Cable brand.

 

The Bigger Picture

The company Monster Cables was formed back in the 70s to manufacture different quality audio cords. They then boarded the struggle-bus, and just stayed on. So why not do an ICO? Their plan is to make a marketplace with their own Monster Tokens, and on board other e-commerce platforms. They explicitly state that their competition will be Amazon, Ebay and Alibaba – problem is that Walmart and Facebook’s Marketplace are joining this competition as well. Their confidence doesn’t quite shine here: “The amount of future losses and when, if ever, we will achieve profitability are uncertain.” Even though this is one of the first companies that actually manufactures consumer goods to come out with an ICO… maybe steer clear?

 

Why am I still getting receipts and invoices made of paper?

 

The Bit

Goldman Sachs led the way on a $250 million dollar Series E funding run for Tradeshift to develop blockchain applications to their company.

 

The Bigger Picture

Tradeshift is a collaboration platform to increase efficiency between suppliers and supply chain companies. This is the kind of thing blockchain is perfect for. They believe the future of supply chain is wholly digital… duh. What isn’t? But, with $250 million that more than double’s the company’s value, maybe they’ll be able to catch up and compete with all the existing supply chain solution companies that are working with blockchain already. DHL, Amazon, Fedex, Oracle, Walmart, VeChain, Ambrosus, Waltonchain… Of course, Tradeshift already has all their clients lined up.

 

“There’s a real risk that some of those companies could overtake some of Wall Street’s biggest banks if they don’t get in the market.” – Spencer Bogard (Blockchain Capital)


For more great content  Share