40+ crypto companies comes together for one solution

[Tipstar]

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

[Anonylz]

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.

[Kotone]

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.

[r32godzilla]

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?

[mu_enrico]

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.

Users can provide an email address or a phone number linked to their bank account to instantly receive money without requiring complicated bank account numbers, international codes, routing numbers or SWIFT IDs.

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

I smell competition with FinTech products. Interesting!

[enhu]

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.

Users can provide an email address or a phone number linked to their bank account to instantly receive money without requiring complicated bank account numbers, international codes, routing numbers or SWIFT IDs.

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.

[pakhitheboss]

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

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.

[Pumuckel21]

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

[Yaunfitda]

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,  , 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.

[DDante]

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

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

[Thomas-s]

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

[cryptoperkele]

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?

[Yudhisthir]

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.

[pilosopotasyo]

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

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.

[Oasisman]

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.

[Ridwan Fauzi]

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.

[nelson4lov]

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.

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.

[bitcoin_paypal]

Another one centralization point of the method of surveillance

[masterrex]

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. 

[jrrsparkles]

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

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.