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/ latest / 2018/08 / david-schwartz-ripples-chief-technology-officer-answers-questions-about-xrp-and-ripples-products-as-xrapid /
David Schwartz, Head of Ripple Technology Manager, answers to questions about XRP and Ripple products (such as xRapid)
david-schwartz-ripples-chief-technology-officer-answers-questions-about-xrp-and-ripples-products-as-as- xrapid [19659004] On 21 August 2018, Ripple's Chief Technology Officer (CTO), he answered questions from Internet users in a live session organized by The Next Web (TNW). Here are some of the main highlights:
XRP: Is it a security?
"Ultimately, it will be up to the SEC to decide." We believe that XRP does not have to be classified as a security property shares in Ripple or any other entity. XRP exists independently of Ripple. If Ripple left tomorrow, XRP will continue to exist and will have the same usefulness it does today. Neither Ripple nor any single entity can exert unilateral control over the led XRP register. "
When xRapid Go Live?
"Our goal is to have xRapid out of the beta by the end of the year.We are really excited about the recent pilot results that show savings of between 40% and 60% compared to financial institutions normally [sonocostosifornitoridivalutaestera]
Does Ripple's CEO think Bitcoin is a scam?
"I've never heard Brad say that, I definitely do not think bitcoin is a scam and a bitcoin that I've been publicly defending since 2011, when I first came in. I think it's the first example of an exciting new technology and still the market leader, at least by market capitalization.Technology is really a breakthrough and I said to hold a little bit of BTC. If nothing else, the current market mechanics tell us that we are all together and I do not believe that an encryption project can succeed by pulling others down. "
What is the purpose of xRapid?
"The purpose of xRapid is to provide liquidity on demand through XRP With xRapid, a cross-currency payment can, in just a minute or two, buy XRP with USD and then sell XRP for MXN on exchanges of existing digital assets Within the RippleNet network, xRapid can provide rapid clearance through existing XRP liquidity for payments initiated elsewhere on the network. "
Which companies get the most out of xRapid?
"It has to do with many factors, but the alternatives are efficient: the less efficient the alternatives, the more savings with xRapid, some companies have spent absurd amounts of money optimizing their current supply of liquidity. They will not see big savings with xRapid as a smaller company that has not invested so much in optimizing their current liquidity supply.In a sense, xRapid helps to level the playing field and could even allow new competitors to enter the market without a huge disadvantage compared to existing players who have invested more. "
