Litecoin is a popular cryptocurrency and its developer, Carlie Lee, is not only for the currency but also for the sale of LTC. Though may believe Lee is Litecoin's developer, another individual – Franklyn Richards, created the code and is still working to maintain Litecoin's effectiveness. Richards also directs the litecoin Foundation, he operates the platform's website, and he is the COO of Zulu Republic, a company that creates products for Litecoin. Though Richards is quite active, he does not participate in many interviews.
A seemingly "man of mystery," CCN has conducted an interview with the web summit in Lisbon. Here is what took place:
The Importance Of Privacy
When asked whether privacy is important to him, Richards responded, "umm, maybe. I'm very active. I'm just not necessarily interested [in social media]. If it's business-related, I'll be there, if it interests me. He added, "But I'm generally not a big fan of wasting time on Twitter. . . I'm not interested in a lot of speculation. I'm much more interested in putting my head down and working on the stuff that's going to be big next time around. "
Believing In Cryptocurrency
Richards believes in cryptocurrency and how it started. He explained that he has been involved in curiosity and the added benefit that is something that money can be made from. Further, as Richards stated, he saw it as the "next big stepping stone in finance."
The next question veered toward litecoin and why Richards chose it, in particular.
Richards responded, "Really, Litecoin was just because Bitcoin was too expensive. . . It's a bad thing to say, and I do not think we should ignore that. People look at something like Bitcoin, and they say, they are too much money. "Richards touched the story of his mother investing in bitcoins and they had lost the funds in the process. Thereafter, the conversation veered toward Bitcoin's institutionalization.
He stated, "Not that Bitcoin will be forced upon people! I would like to know how to use the technology, and I will be using it without knowing it, and I think it is going to be a huge driver for the price. But they will certainly reap the benefits from it. I think that's the future of cryptocurrency. "
Cryptocurrency And Centralized Authorities
Cryptocurrency will be overtaken by centralized authorities. Centralized institutions can benefit from centralizations. They will then pass the benefit to their users. In his words, "We're currently seeing an institution race to accept this."
Bakkt. There are a few examples of this. Two others are CME and Gemini. In respect to these systems, Richards stated, "People realize that it does not matter to the customers know anything about this technology. We do not know how to play cards, but we know that they provide us with service. "
In respect to if Richards is in favor of regulation, he is said to be an interesting issue, especially because regulation is the hot topic that people are constantly discussing. Richards stated, "You can not regulate something without controlling it. All it would do is inhibit growth. People will use bitcoins. They 're going to be enough and that' 'You can take your country out of bitcoin,' 'and that' '' '' '' '' '' '' '' '' 'bitcoin out of your country.' 'And that's very true.'
The Advantages Of Litecoin
Richards also discussed the advantages to Litecoin. As he stated, "We have lower fees and faster blockages, but we can not block rather than those 10 minutes. But Litecoin is very complementary to a competitor. Bitcoin will be number 1 for a very long time, but these two things strengthen each other. We do not compete, we benefit, especially with the Lightening Network and atopic swaps. "
Moreover, Richards added that Litecoin has a high amount of liquidity, which is important. No other currency provides that, save for ethereum, but it is not a currency. But to platform that is not decentralized because they are printing tokens on its network.
The next topic that arose was the Litecoin Foundation and Charlie Lee. Richards stated, "The Litecoin foundation is a non-profit organization in Singapore set up to support the ecosystem of Litecoin. We are not connected to Litecoin, we do not develop Litecoin, we simply support businesses as well as people looking to learn more about the technology. Litecoin would still exist by itself as a strong, secure form of money. "
Litecoin Going Forward
Concerning where Richards sees Litecoin going forward, Richards is said to be scaling is a problem. The platform is also partnering with Lightening Labs. Richards asserts that the future will have many assets that are interconnected and it will be due to Bitcoin and Litecoin.
Richards sees "this whole thing" in ten years. Richards stated, "Much bigger than it is now. I think it will take a huge step forwards the institutional side, and we are going to be realizing it. "Further, when compared to gold," we're a fraction "of it. And that's still a long way to go.