Bitcoin and Ripple (XRP) are two of the most well-known cryptocurrencies, but they serve different purposes and operate on distinct technologies. While both are digital assets, their roles in the financial ecosystem are significantly different. This article explores the key contrasts between Bitcoin and Ripple, highlighting their unique characteristics and use cases.

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 1. Purpose and Use Cases

– **Bitcoin (BTC)**: Bitcoin was created as a decentralized digital currency, designed to act as a store of value and a medium of exchange without the need for intermediaries like banks. Its primary goal is to function as a peer-to-peer alternative to traditional currencies.

– **Ripple (XRP)**: Ripple is primarily a payment settlement and remittance system that aims to provide fast, low-cost international money transfers. XRP, the cryptocurrency used on the Ripple network, serves as a bridge currency to facilitate cross-border transactions between different fiat currencies. Ripple’s main objective is to improve the efficiency of the traditional banking system.

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 2. Technology and Structure

– **Bitcoin**: Utilizes a **proof-of-work (PoW)** consensus mechanism, where miners compete to solve cryptographic puzzles to validate transactions and secure the network. This process is slower and energy-intensive.

– **Ripple**: Operates on a **consensus ledger**, which is faster and more energy-efficient. Unlike Bitcoin, Ripple does not rely on mining. Instead, a network of trusted validators confirms transactions in just a few seconds.

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3. Transaction Speed

– **Bitcoin**: Transactions typically take around 10 minutes or more to confirm due to the mining process and block validation.

– **Ripple**: Transactions are settled in **3-5 seconds**, making Ripple a far superior option for fast international payments.

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4. Supply and Distribution

– **Bitcoin**: Bitcoin has a capped supply of **21 million BTC**, and new coins are created through mining. This process will continue until all Bitcoin is mined, estimated to happen around the year 2140.

– **Ripple**: XRP was pre-mined with a total supply of **100 billion tokens**. Ripple Labs, the company behind Ripple, controls the distribution and release of XRP into the market.

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5. Decentralization

– **Bitcoin**: Bitcoin is fully decentralized, with no central authority controlling it. It operates through a global network of miners and nodes, and its value comes from its community and market demand.

– **Ripple**: While Ripple’s transaction validation process is decentralized, **Ripple Labs** retains significant control over the release of XRP and plays a central role in its ecosystem. This makes Ripple more centralized compared to Bitcoin.

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6. Target Users

– **Bitcoin**: Bitcoin is primarily targeted at individuals looking for a decentralized, secure way to store and transfer value outside of government control.

– **Ripple**: Ripple is focused on **financial institutions** and banks, aiming to improve the efficiency of cross-border payments and settlements.

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7. Adoption and Use

– **Bitcoin**: Bitcoin has widespread adoption as a digital currency and store of value. It is accepted by a growing number of merchants and is often referred to as “digital gold.”

– **Ripple**: Ripple is predominantly used by banks and financial institutions for cross-border payment settlements. It is not commonly used by individual consumers for everyday transactions.

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 8. Energy Usage

– **Bitcoin**: Due to the energy-intensive mining process, Bitcoin consumes a significant amount of energy, which has raised environmental concerns.

– **Ripple**: Ripple consumes much less energy as it does not rely on mining, making it a more sustainable solution for financial transactions.

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9. Price Volatility

– **Bitcoin**: As a speculative asset, Bitcoin is known for its high levels of price volatility, influenced by market demand and investor sentiment.

– **Ripple**: XRP tends to be less volatile than Bitcoin, as it is focused on being a stable asset for use in financial transactions and partnerships with large institutions.

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Conclusion

**Bitcoin** is a decentralized cryptocurrency primarily designed as a store of value and a medium of exchange. It aims to disrupt the traditional financial system by offering an alternative to fiat currencies.

**Ripple (XRP)**, on the other hand, is a centralized solution for improving cross-border payment systems, aiming to work with the financial industry rather than disrupt it. Ripple’s primary focus is on fast, cost-effective international transfers.

While both Bitcoin and Ripple are leading names in the cryptocurrency space, they cater to different audiences and serve distinct purposes. Bitcoin seeks to revolutionize personal finance by providing individuals with a decentralized alternative, whereas Ripple aims to enhance and modernize the global banking system.

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This detailed comparison highlights how Bitcoin and Ripple occupy different spaces in the evolving world of digital currencies, each with its unique strengths and focus areas.

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What is the PGII?

The PGII is a collaborative effort by the G7 nations to mobilise substantial financial resources for infrastructure projects in low- and middle-income countries. The initiative emphasises sustainability, transparency, and high standards in investment, aiming to foster economic growth and development in these regions. With commitments potentially amounting to hundreds of billions of dollars, the PGII seeks to offer a viable alternative to the Chinese BRI, which has been a key component of China’s global strategy over the past decade.

Impact on China’s Belt and Road Initiative

China’s BRI has been instrumental in expanding its economic and geopolitical reach through large-scale infrastructure projects across Asia, Africa, and Latin America. However, the initiative has faced criticism for creating debt dependency, lacking transparency, and sometimes delivering subpar project outcomes. The PGII, by offering competitive and transparent financing, addresses these issues, providing recipient countries with an attractive alternative.

1. **Economic Competition**: The PGII introduces robust competition to the BRI. With substantial financial backing from the G7, countries seeking infrastructure development now have an alternative to Chinese investment, which could slow China’s economic expansion in key regions.

2. **Geopolitical Influence**: The PGII signifies a strategic effort by the G7 to strengthen ties with developing nations. This could diminish China’s growing geopolitical influence by creating a counterbalance through Western-led investments, fostering a more multipolar approach to global development.

3. **Standards and Transparency**: Emphasising high standards and transparency, the PGII addresses a critical point of contention with the BRI. This focus on ethical investment practices could sway countries to favour PGII projects over BRI ones, impacting China’s role in international development.

Implications for BRICS

The PGII could also influence the internal dynamics of the BRICS nations (Brazil, Russia, India, China, and South Africa). Countries such as India, which have strategic reservations about China’s dominance, might find the PGII a beneficial counterbalance, potentially altering economic alignments within the group. This could lead to a more diversified economic strategy among BRICS nations, mitigating China’s dominant influence.

Conclusion

The Partnership for Global Infrastructure and Investment is a transformative initiative in global infrastructure development, providing a substantial counterweight to China’s Belt and Road Initiative. By focusing on sustainability, transparency, and high standards, the G7 aims to reshape the landscape of global investment, offering developing countries credible alternatives to Chinese financing. As this initiative unfolds, it will be crucial to observe its impact on global economic and geopolitical dynamics, particularly in relation to China’s strategic ambitions and the BRICS coalition.

For further details, please refer to the [White House fact sheet] 
on the PGII.

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In the wake of recent political turmoil and growing concerns over the security of savings accounts, many Britons are increasingly turning to gold as a secure investment. The significant Tory wipeout has exacerbated economic uncertainties, prompting savers to seek out more stable assets.

#### Rising Demand for Gold

Gold has long been considered a safe-haven asset, particularly during times of political and economic instability. As confidence in traditional savings accounts wanes, the allure of gold’s enduring value becomes ever more appealing. Investors are looking for ways to protect their wealth from potential market fluctuations and financial instability.

#### Amanah.gold: Leading the Way

Among the various options available, **Amanah.gold** distinguishes itself by offering to beat the prices of any mainstream gold bullion retailer in the West. This commitment to competitive pricing makes Amanah.gold a standout choice for investors seeking value for their money.

Amanah.gold not only offers competitive rates but also ensures that their products are Sharia-compliant, providing a trustworthy and ethical investment option for those concerned with adhering to Islamic financial principles.

#### Advantages of Gold Investment

Investing in gold comes with several advantages:
– **Stability**: Gold maintains its value over time, making it a reliable store of wealth.
– **Liquidity**: Gold is easily tradable, allowing investors to convert their holdings into cash quickly.
– **Diversification**: Adding gold to an investment portfolio can reduce risk and increase resilience against market volatility.

#### Conclusion

As the economic landscape remains uncertain, more Britons are turning to gold to safeguard their wealth. With its promise to offer the best prices and a commitment to quality, Amanah.gold emerges as a leading choice for those looking to invest in gold. By choosing Amanah.gold, investors can navigate these turbulent times with greater confidence and security.

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Morocco did try to see the crescent moon on Sunday.

Islamic countries rely on various methods to determine the first day of the holy month of Ramadan and the two Eid celebrations. Most significantly, they refer to the saying of the Prophet Muhammad; “Fast when you see it (the crescent moon) and break the fast when you see it.”

Accordingly, some nations like Morocco base their calendar on actually sighting the crescent moon with the naked eye. Others, like Brunei and Oman use telescopes for moon observations. Countries including Turkey and Tunisia depend primarily on astronomical calculations.

A third group, including Malaysia and Indonesia, employ both sighting and calculations in tandem. Meanwhile, the majority of countries follow the official moon sighting declaration from Saudi Arabia.

Through years of practice, Morocco has honed a reliable methodology for observing and validating moon sightings, earning global renown for its precision. The kingdom deploys a network of specialized committees and cross-checks visual sightings against astronomical computations to leave no margin for error.

270 observation points across Morocco

The Moroccan approach relies on two main methods for moon sighting.

Morocco’s moon sighting process actively engages clerics, astronomers, and armed forces units in a coordinated effort. On the 28th day of each lunar month, the Ministry of Endowments and Islamic Affairs puts out a call for monitoring the moon on the 29th day.

The Ministry of Endowments and Islamic Affairs contacts 270 official observation points across the country, asking designated Muslim legal experts, judges, and ministry officials to visually identify the crescent moon.

These trained observers carefully scan the sky and then fill out detailed forms recording the moon’s specifications. The official watchers must note whether they clearly spotted the crescent with the naked eye or not.

Separately, assigned teams from Morocco’s armed forces also conduct sightings and submit their findings. Inputs stream into the Ministry’s central commission, which analyzes them to conclusively confirm or negate that month’s moon sighting. Once all results are cross-checked, the ministry’s central committee makes the final announcement.

With over 2300 people participating across 278 official sighting committees, the data is extensive.

Cross-checking with astronomical calculations

Morocco does not rely solely on visual sightings, even with 278 official monitoring committees across the kingdom. The results are meticulously cross-checked against the latest astronomical calculations of the moon’s size, brightness, and position.

If both empirical sightings and computational models align in either confirming or negating the emergence of the Shawwal crescent, Moroccans can rest assured that their Ramadan date will be accurately fixed.

Centuries of indigenous expertise

Morocco’s prowess in moon sighting draws from centuries of indigenous expertise, rather than modern technology alone.

According to Ali El Amaroui – one of the experts who calculates the lunar calendar – the parameters used can be traced back to 15th-century scholars from Andalusia and the Arab world whose extensive observations allowed them to precisely define the conditions needed for a definite sighting. These methods are still taught at the famous Qarawiyyin University in Fez.

The crescent is only clearly visible to the naked eye if it remains above the western horizon for over 48 minutes after sunset and has an angular separation from the sun of over 10 degrees. Morocco applies strict international benchmarks such as these before confirming a moon sighting.

In contrast, “some countries declare sightings based on reported naked eye views lasting barely a minute with a separation from the sun of less than 5 degrees,” says El Amraoui, making errors more likely.

Global recognition

After some 20 years of effort, Morocco has achieved global recognition for its reliable methods. Given its proximity, European Muslim communities would do well to follow Morocco’s lead on key dates like the start of Ramadan rather than relying on sightings from farther east, El Amaroui suggests.

The end of Ramadan 2015 highlighted how Morocco’s moon sighting prowess minimizes errors. Much of the Muslim world celebrated Eid-al-Fitr on Friday after claiming the Shawwal crescent was spotted on Thursday evening.

However, Morocco and Oman announced that the moon had not been visible that night. They completed 30 days of the preceding Ramadan month and declared Saturday as Eid instead. Shortly afterward, Tunisia’s Grand Mufti admitted a “mistake in sighting” had occurred.

The Moroccan Ministry of Endowments issues a statement on Ramadan

Every year, Morocco’s Ministry of Endowments and Islamic Affairs publishes an official statement about the start of the holy month of Ramadan. In its announcement, the Ministry also urges caution in spreading news prematurely, particularly media outlets eager to scoop the story.

An official notification from the Ministry is required to formally declare the start of Ramadan.

Of course, variations in the start and end of lunar months will persist between countries as long as different criteria are used. But Morocco’s system leaves little room for doubt.

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The joint program, unveiled by the WGC and DMCC, seeks to address key challenges facing the gold sector while unlocking new opportunities for growth and development. At the forefront of their agenda is the promotion of responsible gold sourcing and production practices. By supporting initiatives that prioritize environmental stewardship, fair labor practices, and the fight against illegal mining activities, the program aims to ensure that gold is sourced and produced in a socially and environmentally responsible manner.

In addition to sustainability, the program will focus on driving innovation and technological advancements within the industry. Research and development initiatives will be supported to enhance extraction and refining processes, as well as explore new applications for gold in various industries. By fostering innovation, the program aims to enhance the efficiency and competitiveness of the gold sector while opening up new avenues for growth and diversification.

Transparency and integrity are also key priorities of the program, with efforts aimed at enhancing the visibility and traceability of gold throughout the supply chain. Measures will be implemented to combat fraud, money laundering, and other illicit activities associated with the gold trade. By promoting transparency and integrity, the program aims to instill confidence in consumers and investors alike, ensuring that gold remains a trusted and reliable asset class.

The partnership between the WGC and DMCC underscores the importance of collaboration in driving positive change within the gold industry. By leveraging their respective strengths and resources, these two leading organizations aim to create a more sustainable, transparent, and innovative gold sector that delivers value for all stakeholders.

As the program unfolds, stakeholders across the gold industry can anticipate a wide range of initiatives and activities aimed at promoting responsible sourcing, driving innovation, and enhancing transparency. By embracing these principles and working together towards common goals, the WGC and DMCC are laying the foundation for a brighter and more sustainable future for the gold industry.

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Introduction:

In recent times, the economic landscape has witnessed a significant shift as Chinese investors turn to gold amid uncertainties in property and stock markets. The trend, once confined to the East, is now making its way to Western markets, signaling a growing preference for the age-old precious metal as a safe haven for wealth preservation.

The Chinese Paradigm:

China, long regarded as the world’s largest consumer of gold, has traditionally seen gold as a symbol of wealth and prosperity. However, the recent surge in gold investments goes beyond cultural symbolism. As property and stock markets experience fluctuations, Chinese investors are turning to gold to safeguard their assets and hedge against economic uncertainties.

Property Market Turbulence:

The Chinese property market, known for its rapid growth in recent years, is now facing challenges, with concerns about overheating and potential bubbles. In response, investors are diversifying their portfolios by allocating a portion of their wealth to gold. Unlike property, which requires ongoing maintenance and is subject to market volatility, gold offers a tangible and enduring store of value.

Stock Market Volatility:

Simultaneously, the Chinese stock market has experienced fluctuations, prompting investors to seek alternatives. Gold’s historical resilience during times of economic turbulence makes it an attractive option for those looking to preserve capital and minimize risk.

The Western Influence:

While traditionally associated with Eastern investment strategies, the trend of turning to gold is gradually making its presence felt in Western markets. As global economic uncertainties persist and market dynamics evolve, Western investors are taking note of gold’s role as a reliable asset class that can serve as a hedge against inflation, currency devaluation, and market volatility.

Factors Driving Western Interest:

1. Diversification Strategy:
   • Western investors are recognizing the importance of diversification beyond conventional assets like stocks and real estate. Gold, with its low correlation to traditional investments, is gaining prominence as a crucial component of a well-balanced portfolio.
2. Inflation Hedge:
   • Concerns about inflationary pressures are prompting investors to explore assets that historically retain value during inflationary periods. Gold has a proven track record as an effective hedge against inflation.
3. Global Economic Uncertainties:
   • Ongoing geopolitical tensions, the impact of the COVID-19 pandemic, and uncertainties surrounding interest rates are contributing to a sense of caution among Western investors. Gold’s status as a safe-haven asset is becoming increasingly attractive in this context.

Conclusion:

The surge in gold investments among Chinese investors reflects a broader global trend as the precious metal gains prominence in Western portfolios. As economic uncertainties persist, gold’s role as a reliable store of value and a hedge against market volatility is likely to see continued appreciation. Investors worldwide are recognizing the timeless appeal of gold as a strategic asset that stands the test of time.

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In a groundbreaking development, Russia and Iran have officially severed ties with the SWIFT system, marking a pivotal departure from the Western-dominated transaction framework. Mohsen Karimi, Deputy Head of the Central Bank of Iran (CBI), made this announcement, revealing that both nations have embraced a direct interbank transfer mechanism.

During an interview on Iranian state television, Karimi highlighted the transformative nature of the new system, allowing companies in Russia and Iran to engage in trade using their respective national currencies, thereby eliminating the dependence on the dollar or euro. This strategic shift has intricately linked the financial correspondence networks of the two countries, rendering intermediaries like Switzerland obsolete for communication between their banks.

Karimi explained, “The banks of our two countries no longer need Switzerland to communicate with each other, and commercial banks of both countries can establish brokerage relations directly.” He emphasized the practical implications, stating that Iranian exporters can now issue invoices to their Russian counterparts in rials, receiving payments through Russian banks based in Iran. Crucially, the system also facilitates transactions in Russian rubles.

This move signifies not only a departure from traditional Western-centric financial systems but also the establishment of a more direct and sovereign channel for economic interactions between Russia and Iran. By passing the SWIFT system, these nations are forging a new path in international trade, promoting increased autonomy and flexibility in their financial dealings.

The switch to a direct interbank transfer mechanism reflects a growing trend among sanctioned countries seeking alternatives to Western-dominated financial infrastructures, ushering in a new era in global economic relations. Russia and Iran’s bold step underscores the changing dynamics in the geopolitical and economic landscape, as nations explore innovative solutions to enhance their financial independence and bolster international partnerships.

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Introduction:

In a significant development under the governance of the Islamic Emirate of Afghanistan, Acting Minister of Industry and Trade, Nooruddin Azizi, declared the abolition of all usury systems in the country. This announcement reflects the commitment of the Islamic Emirate to uphold the principles of the Islamic system through lawful and ethical means.

Abolishing Usury Systems:

Acting Minister Nooruddin Azizi emphasized the eradication of usury systems, a move aligned with Islamic financial principles. Usury, commonly known as “riba” in Islamic finance, refers to the charging or payment of interest, which is prohibited in Islam. The decision to abolish usury reflects the Islamic Emirate’s dedication to establishing an economic system that adheres to Islamic values and principles.

Commitment to the Islamic System:

The Acting Minister reiterated the commitment of the Islamic Emirate to fulfill all requirements of the Islamic system through lawful methods. This commitment extends to various aspects of governance, including economic policies that prioritize fairness, justice, and adherence to Islamic financial principles.

Islamic Finance Principles:

Islamic finance principles are rooted in Sharia law, aiming to create an economic system that promotes ethical and equitable practices. The prohibition of usury is a fundamental tenet of Islamic finance, promoting economic justice and preventing exploitation. Instead of traditional interest-based systems, Islamic finance encourages profit-sharing, risk-sharing, and ethical investment practices.

Global Implications:

The decision to abolish usury systems in Afghanistan holds broader implications for the global financial landscape. It showcases the Islamic Emirate’s dedication to establishing an economic model that prioritizes ethical considerations over profit motives. This move aligns with the growing global interest in ethical and sustainable finance, with Islamic finance principles offering an alternative framework that emphasizes social responsibility.

Conclusion:

The announcement by Acting Minister Nooruddin Azizi marks a significant step by the Islamic Emirate of Afghanistan towards implementing Islamic finance principles and abolishing usury systems. As the country seeks to rebuild and establish its governance, this move reflects a commitment to an economic system rooted in justice, fairness, and adherence to Islamic values. The global community will be keenly observing how these principles shape Afghanistan’s economic landscape in the coming years.

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The BRICS Alliance and Its Economic Significance:

The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, represents a collective force challenging the traditional dominance of Western economies. These nations have sought to foster collaboration on economic, political, and strategic fronts, with a vision of reshaping the global financial order.

China’s Recent Actions:

Recent reports suggest that China, a linchpin of the BRICS coalition, has executed a series of transactions involving the aggressive sale of US dollars over a three-day period. This move is seen as a deliberate attempt to diversify its foreign exchange reserves and reduce dependency on the US currency.

Implications for the US Dollar:

The US dollar has long served as the world’s primary reserve currency, providing the United States with significant economic advantages. However, China’s strategic divestment raises questions about the dollar’s enduring dominance and could potentially signal a shift toward a more multipolar monetary system.

Possible Motivations:

China’s decision to dump US dollars may be driven by various factors. One key consideration is the ongoing geopolitical tensions between China and the United States, particularly in the realms of trade and technology. By reducing its exposure to the US dollar, China aims to insulate itself from potential economic repercussions arising from these conflicts.

Additionally, China’s move aligns with its broader efforts to internationalize its currency, the yuan (renminbi). A reduced reliance on the US dollar could bolster the yuan’s standing on the global stage, potentially challenging the dollar’s role as the dominant reserve currency.

Market Reactions and Speculations:

Global financial markets have reacted to China’s actions with a mix of uncertainty and speculation. Analysts are closely monitoring the potential ripple effects on exchange rates, commodity prices, and the overall stability of the international monetary system.

While some experts argue that China’s move may be a tactical response to recent US economic policies, others posit that it signifies a more profound reorientation in the dynamics of global finance. The impact of these developments is likely to unfold over time, with consequences for various stakeholders in the international arena.

Conclusion:

China’s aggressive divestment of US dollars over a three-day period has ignited discussions about the future of the global monetary order. As a key player in the BRICS alliance, China’s actions could influence the trajectory of international finance, challenging the longstanding dominance of the US dollar. The coming weeks and months will reveal the true extent of these developments and their implications for the evolving landscape of global economics.

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