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The well known businesses in crypto industry, BitGo, BitPay, Bitrue, Bitso, Bitstamp, Blockchain.com, Brave, BTC Markets, CipherTrace, Coinone, Crypto.com, Huobi, Independent Reserve, Liquid, Ripple and many more are doing a partnership to bring an universal PaymentID system where users be able to send and receive cash and crypto interchangeably and globally.
If anyone can make global crypto adoption possible, it's this partnership. What impact do you think this would make?

https://cointelegraph.com/news/ripple-brave-and-huobi-join-instant-global-payments-network-payid

Nice, I think that such a strong partnership is the strong hold that can really promote the adoption of blockchain and crypto world wide, these are very solid project with strong background, I personally think this will bring such a huge impact in the crypto space, it is very uncommon to see so many projects unite to promote an important course. I like the idea of a universal PaymentID to help crypto lovers transaction with ease. This is huge and will bring crypto everyone.

Thats nice to know. Libra has the same goal but mostly on digital payment and partly crypto. If this will pursue then we can see a great platform that enables a peer to peer, and peer to bank, vicer versa without much hassle. Likewise, Binance p2p is doing this right now and many fiat are already working for this. This will be good if they can implement faster with most advance feature and a friendly user one.

Okay, and what will be the main coin that will power the network? Some new coin or it would be XRP? It is good that they develop another all-in-one solution, but why then there is Bitcoin or thousands of altcoins. XRP or CRO coins won´t be useless when XRP or CRO won´t be the native coin for this system? :)

Wow, the alliance! Assumed the government wouldn't tackle it, this solution can streamline payments. I'm skeptical that my country will allow such a payment solution though, but let's see how it goes.

https://cointelegraph.com/news/ripple-brave-and-huobi-join-instant-global-payments-network-payid

I smell competition with FinTech products. Interesting!

Is binance among the list?  If not then they might be joining another competitor of this PayID system.

This is a good progress in Australia. If its going to be accepted good in their country it will also work in other countries. This is a big partnership in crypto space and crypto.com is among it, the adoption we expect is almost achieved.

Good to know about this partnership.

But how will it work? Will there be a new unified cryptocurrency to fuel this project or will they take one from the market?
If they are able to successfully complete this project then this will be big. I am sure many other companies will also try something like this or join their team.

I never heard about this before thanks for sharing. The thing is that I think that this action might be a bit too late. I am not sure about the decentrality of this project and Faecbooks libra might be a competition for the normal use case

In paper it really looks good just imagine those companies setting this difference aside (if there is any) to join force and work together for this one solution for crypto enthusiast. It just a matter of execution and who will make more money,  ;D, but really ambitious project.

This could really be a threat to the banking system so we need to wait what will be their response here. It seems that they are going to be obsolete, Lol. But for sure there could be other alliances as well that could rival this, anyhow, this could be a win-win situation for us in the long run.

Good move, honestly this is the only way to better crypto adoption, it's already in existence in asian part of the world through Alchemy project called alchemypay, very soon crypto currency will gain more strong community

Such cooperation of large companies and the global introduction of cryptocurrencies as payment tools will affect the existing economic systems very strongly. the world will change, but it will not be fast. it will take years of work

No surprise that my bank is not registered. It will be a cold day in hell before they are in board with any crypto-related tech.

But how exactly does this work with Blockchain.com? Can i create my PayID in there?

We need this sort of global collaboration to make the crypto market really go forward. Ripple has been doing hard to get into remittance business but they just couldn't because people had no enough trust on them to use them. With all these companies coming together, they'd have a bit more credibility and their resources combined would easily get the project a boost.

If we are going to move forward the industry will need a strong partnership to a well-known company or these big names in the Cryptocurrency should bound and create projects that will benefit the whole community, we need this we have millions of investors now.

This initiative is nothing but excellent. However, I doubt the government might interfere as this would become a legal threat to the banking system.
This for sure increase the global adoption, specially when people experience such convenience in service, unlike the traditional payment system which will sometimes encounter a delay of the process and errors.

The market is still red, seem like the impact will be felt in the long term.

Also, the information only for the user who lives where the government is allowed to make any transaction or send and receive money in form crypto currency. But for those country which still not allowed to doing so will never using it. Yeah, we still face a regulation, it means not all user can use the service although the other country have legalized it.

That's true. A partnership this strong would go really far compared to the progress made by each company individually over the last few years. The likes of Crypto.com , Houbi, Bitgo and blockchain.com coming together to form a single initiative? It'll definitely be massive. Together they can get payID to be massively adopted by retail stores and merchant services.


I won't be surprised if government goes after the initiative. They've always been scared of movements that pose a threat to the status quo banking and financial system. I don't think they'll be winning this for longer.

Another one centralization point of the method of surveillance

Thats good to know, at last, the crypto companies are already awake and set aside their differences for the sake of the crypto payment industry and crypto adaptation. It is a great action of all those companies that involved and I'm sure it will benefit not just the crypto payment platforms, but the whole crypto industry as well because it can drive global crypto payment adoption in the mainstream. 

If they are going to bring unique identity for every user which goes against the decentralization right?

This is really good if they are not going to make universal ID because people can change any cryptos possibly it will boost the purchases using cryptos.

Could be good initiative but could get restricted to developed countries only. While reading the article I came across this line which seems to be whole idea of the project but I think it could be chaotic one too.


The problem is there are big countries like India, Africa, Arabian counties, and large asia part who has banking system with poor infra-structure. I mean in terms of lining their phone numbers to bank account etc. doesn't work 100% in such countries. Where major part of population keeps changing the phone number and all they provide to bank accounts is their local ID's and nothing more.

In India, we had AADHAR card system to link every digital platform for easy tracking. However, slowly the drawbacks started popping up. For example, many people changed their phone numbers during the course of time or some lost it etc. Now you need to wait if you want to update the phone number, take an appointment and stand in line to do so.

Major portion is struggling with such incidences and I doubt banking remains in question. E-mail address, no way, they dont even carry one.

"This partnership will bring amazing things in developed countries BUT they will surely loose huge portion of asian customers."

They cant touch it no matter what they try to oppose it. Morever, there are platform thats work already on fiat and crypto payment. This plan is at a later stage already but teaming up with big names, I must say that this will be a big project even surpassing those big firm such as coinbase, changelly and the king of exchange Binance.

If ever government intervene with this plan, I can only say that they dont really want an adoption that will be more easier than banks. I cant blame those banks cause this idea is really a threat to them.

I also don't really like xrp and many say xrp coins don't have a clear vision or development in the long run.
but later it will be seen immediately whether it is right or wrong.

XRP is not an asset that is so popular today. but seeing the XRP market is very big. many people like XRP may be for withdrawals because it has costs that may be cheaper than other assets. while for trade or investment, it might look slow.

when such giants come together to introduce cryptocurrencies, this means that the legalization of cryptocurrencies is already very close. we have all been waiting for a long time when the cryptocurrency will be accepted by the goverments and large companies can help with this

the starters must be from big companies in the world. when they support the use of crypto of course this will be good for the future of crypto. in the future, solutions will be found for the use of crypto that has the right functions. not just as an asset that is traded on the market.

If I’m right, you mean that users will be able to send both USD and cryptocurrency (e.g. BTC) using this Payment ID?
That means the system will be something in the nature of PayPal? It will be good and it’s really going to help if it can gain adoption and also have less fees for making use of it.

For it to gain adoption means that it requires lots of promotion from the companies that are going to be running it. They need to put in money and effort and promote it. And it’s also up to us as the cryptocurrency community to do the little we can by using word of mouth to share with our friends and relatives. If the project is a success, it can help spread cryptocurrency awareness.

It would definitely make a huge positive impact towards adoption but true adoption will only be achieved if they will provide inter blockchain and direct crypto to fiat and fiat to crypto transactions as well. I hope they will consider this suggestion.

This is a very good piece of news my friend, union is the thing that is definitely lacking on the crypto world and one of the main reasons why fiat is still everywhere instead of crypto... divisions upon divisions have weakened the weight of cryptocurrencies both economic as well as their credibility...
An union like this can change things deeply and make adoption possible

So what would be the system exacrly be? I mean would it be an app or a new wallet with support from multiple crypto and blockchain companies, my suggestion would be to make crypto payments fast, cheap, global and as easy as possible so that a common man with not much knowledge of computers and wallets can be able to use it with a click of a button, so a lot of work still needs to be done and i guess masses are looking for solutions.

It will be a welcome development and a plus to every crypto enthusiasts because such project bring more credibility to crypto at large which involve a lot of customers and also, such project will  earness the potential of crypto project. I look forward to the project and I will follow the project on cointelegraph

This cooperation has the effect of promoting the electronics market to grow stronger. When cryptocurrencies overcome the barriers between countries to accept global payments, all transactions will take place faster and easier. We can send and pay with bitcoin, so the currency will not depreciate. So we won't have to worry that bitcoin will crash. This makes me more confident investing in bitcoin.

I think it's more focused to cash to crypto and crypto to cash. Imagine you enjoying your holiday on some place and you need cash. Just send some crypto from your wallet and receive cash on nearby bank or counter. This would ease buying and selling of crypto which is still a tough task in many countries. The margin between buy and sell price on most places would also come down if we be able to implement a global solution.

this is really good for the future of cryptocurrency, maybe also good for XRP, the price of CRO that has been affected because of this FOMO,
but for XRP it still hasn't started, this is opportunity  ;D

Good idea, if they are not going to be requesting for KYC for me to use their system. If Crypto company start doing like the traditional market they would have beat them at their game, you will see some of these wallet holds millions of USD in Crypto but can't donate some to political contribution. We need to buy this politicians just they way Banks have bought they. You need money to make money

This partnership seems like a game changer in the cryptocurrency industry. The partnership seeks to bring something that would give the world a more robust financial solution and from what I can see the volatility of cryptocurrency won't affect this new payment system.

Now that the current financial system is on it's last legs and very weak. This is the time where the Crypto Industry can start making waves, not just ripples in the water. These are the kind of collaborations we need to make Crypto Great and show the world we are not just a sea of shit coins but we are an Ocean of unprecedented Technology that can solve many of the problems that are keeping Mankind back from evolving into something more advanced and also more organized. I am optimistic and hopeful for a better future and this helps me to think in a more positive way. This financial crisis is a catalyst for change and change is coming and we need to embrace it.

Anything which is not ensuring privacy of users and not compatible with decentralization may not get consistent support from this crypto space. If they work in a way to ensure individual's privacy oriented project then we can see they may stay with us. A payment processor is needed for linking all of us for quick and reliable payment methods and I guess this may provide such an opportunity.

I do dream about instant bitcoin payments so that I start using BTCs for my shopping without waiting for confirmations to happen which usually may take up to 10 minutes of time. If these companies work on bringing such a system then we can expect this community to support them on first glance itself.

Many people are happy when companies merge but the merger does not always bring a positive result. All companies listed by You can develop independently.

Its really great even i was watching robert kiosoki ( Rich dad Poor Dad Author ) Video . Even he is worried about global fiat currency inflation how the governments and Reserve federal banks are printing money how it will cause global currency inflation we seriously need some solution for currency inflation i hope this crypto platform partnership solve the solution and we can fearlessly invest on crypto currency for the future .