‘Ripple is Different than XRP,’ Says Ripple CEO Brad Garlinghouse
Ripple’s CEO Brad Garlinghouse said a word to protect the utility of XRP asset during CB Insights’ Future of Fintech conference on Thursday.
By Eugenia KovaliovaUpdated
2 mins readPhoto: Christopher Michel / Flickr
Ripple‘s digital asset XRP now represents itself the world’s third most valuable cryptocurrency after Bitcoin and Ethereum. But this significant factor is for some reason still ignored by Coinbaise, which, according to the recent rumors, has been planning to list it for a few months already.
Coinbase is the largest U.S. Bitcoin exchange, which currently offers buying and selling of Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Last week, the company officially announced its intention to add Ethereum Classic, which means that XRP is left behind again.
Outraged by such injustice, Ripple’s CEO Brad Garlinghouse decided to say a word to protect XRP’s utility during CB Insights’ Future of Fintech conference on Thursday:
“Let’s be clear: Ripple is different than XRP.”
This phrase was a response to a trick question about whether XRP is a security for Ripple. Garlinghouse, as well as other members of the Ripple team, have always rejected such statements. Garlinghouse added:
“XRP is not a security for three reasons: if Ripple, the company, shuts down tomorrow, the XRP ledger will continue to operate; it’s an open-source, decentralized technology …. if you buy XRP, [you are] not buying shares of Ripple – buying XRP doesn’t give you ownership of Ripple.”
Financial institution from all over the globe buy Ripple‘s blockchain technology. Some of them use XRP to speed up transactions and lower costs of international payments. With its current market capitalization of $21 billion, XRP’s value is likely to increase attracting more and more banks to use it.
Garlinghouse also expressed his concerns about Bitcoin. He said that despite he owns Bitcoin, he is bullish on it, as when it comes to something being centralized or decentralized, control is the key element. As a reply to SEC’s classification that bitcoin is not a security, Garlinghouse asked a reasonable question: “How decentralized is it?”
Earlier in June, Ripple, claiming that its innovative technologies, such as xCurrent and XRapid, can reduce the costs and speed up international money transactions, has been tested by Western Union, one of the leading financial services company. Western Union has chosen to work with XRapid, but the officials of the company have called into question the efficiency of the new technology.
In spite of all obstacles, Ripple continues to work on the further development and is ready to invest in the future of the crypto community.
Eugenia can call herself a multy-interested person, as she is always in search of new proffessional fields to encompass. After graduating from Belarussian State University with Bachelor degree in both International Communication and Public Relations, she joined a travel startup Fresh Adventures, where she worked for 3 years creating unique itineraries through exotic countries, travelling around the world and developing the company as a partner. Currently, she works as a business analyst in the field of information technologies. She believes that IT is the future, that is why it is so important to keep up with the latest trends in this rapidly growing industry.
