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Ripple's relationship with its native token offering, "XRP", has been the subject of much controversy since the start of the currency. While the Ripple Foundation claims that it is completely independent of XRP, the fact that the foundation still owns 2/3 of the total token is a fact that many people find disconcerting.
According to a new tweet by Cory Johnson, Ripple's Chief Strategist, the company's equation with XRP is similar to the "Chevron energy giant's relationship to oil".
Ripple's relationship with XRP is like Chevron's relationship with oil. We have a lot, we believe it is superior technology and we support its many uses – for billions of reasons. But we do not have everything, we do not control it and we are not.
– Cory Johnson (@CoryTV) October 4, 2018
The analogy presented by Johnson is rather vague, especially since Chevron does not create oil, but rather uses various means to procure resources to facilitate oil extraction operations. Not only that, in order for the oil to obtain any value, the raw extract must first be treated through a series of different methods, all expensive.
Now, keeping this information in mind, the comparison between a pre-data cryptocurrency that has an instantaneous value (due to the speculative nature of the cryptographic market) with a natural asset like oil is nothing short of strange.
Finally, with investors and enthusiasts who are not yet completely behind XRP as an independent resource, it would be highly desirable for the Ripple Foundation to come out and clarify its relationship with its original financial offer.
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