by Jacqueline Corba and Tanaya Macheel
Ripple co-founder Chris Larsen is arguing that his company is a centralized entity.
"There is a religious war between platforms," Larsen told Cheddar the Crypto financial conference.
Cryptocurrencies and blockchains were built on the premise that they can trade value securely without the need for a central authority.
While Ripple urges the decentralized nature of its network, many cryptic purists do not buy it, since about 55 percent of the XRP supply is in the centrally controlled Ripple Foundation.
This level of centralization could be a cause for concern if it turns out that the XRP token is a security, depending on how the regulations develop.
"The whole idea about centralization is false.If Ripple would leave tomorrow, XRP will continue as a ledger without open source permission," Larsen said.
Ripple's core business is partnerships with banks to improve cross-border payments and correct their inefficiencies.
Larsen also addressed the various lawsuits of fraud on the securities that have affected Ripple this year. He said that "they have no merit".
"We are very confident about what Ripple is doing, and we are very confident about where this sector is going in a positive way," he said.
Co-founder of BTCC Bobby Lee, member of the board of the Bitcoin Foundation and an obvious supporter of Bitcoin, in disagreement.
"Everything in the digital world was centralized," Lee told Cheddar at the Crypto Finance Conference on Wednesday. "For the first time, we have something that is truly decentralized."
"The fact that companies and people are abusing it, trying to apply it to something they have launched themselves, is dangerous," he said.
Ripple is not the only token pre-mine network; companies or networks that usually keep them in a foundation or use them for further network development.
The first three cryptocurrencies for market capitalization ー Bitcoin, Ethereum and XRP ー are all aimed at a collapse of summer prices. On Wednesday, prices plummeted after it emerged that Goldman Sachs announced plans for an encryption desk for Bitcoin and that ShapeShift, the Bitcoin evangelist Erik Voorhees, would introduce "membership plans", requesting "personal information base to be collected ".
Lee and Larsen think their digital advantage will win in the long run.