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According to a recent tweet, Ripple CEO Brad Garlinghouse will be attending an AMA on December 18th. AMA would be the last to which the company will participate in this year. Monica Long, Ripple's Marketing SVP division, will join Garlinghouse in AMA.
Our final AMA of 2018 with @bgarlinghouse is @MonicaLongSF it's next week, 12/18 to 10:30 PST. Mark your calendars and share your questions via an answer! pic.twitter.com/YbmAwIuq7e
– Ripple (@Ripple) December 12, 2018
The questions have already started to circulate. As always, we have a mix of important and even remotely important questions. While at the ends of the spectrum, we have questions about the scope of XRP and xRapid, on the other side of the spectrum, we have questions about Brad's breakfast.
Read also: Ripple talks about the introduction of Coin's Transfer Cross
Recently, the Ripple team interviewed Kevin Werbach, a professor of legal studies and business ethics at the Wharton School of the University of Pennsylvania and author of The Blockchain and the New Architecture of Trust.
Immerse yourself directly in the questions and answers, here is the first couple:
"Ripple team: Can you preview all the key suggestions of your new book, The Blockchain and the New Architecture of Trust?
Werbach: Blockchain is not an alternative to trust; it is a new form of trust that attempts to remove dependence on specific entities. For cryptocurrencies and blockchain-based systems to reach their potential, they must be reliable. And this means much more than the formal security of consent on a distributed ledger. We need to look more closely at what types of problems can be dealt with by blockchains and what the trust scenarios of these domains are. And, in counter power to some, the law will largely be a force that helps blockchain ecosystem. Law, regulation and governance are mechanisms of trust. We need to examine how they can be used to promote trust in blockchain-based solutions and how blockchain and legal trust interact. "
Moving on to the next:
"Ripple team: Have you found more ideal use cases than others for digital asset blockchain technology?
Werbach: Of course! I start a chapter of my book talking about Whoppercoin – an ICO that was essentially just a loyalty point system for Burger King customers in Russia. There was no reason why a blockchain was needed. It was probably all a fun marketing campaign, but the scary thing was that, during the boom of last year, you could not really say. In general, it is always necessary to ask: "Is this a real and substantial problem to be solved" and "why a traditional technology will not solve the problem just as well, if not better?" The best use cases are those where either the cost of trust (typically in the form of strata or intermediaries) is a problem, or where there is a "trust gap" between the co-ordinating entities. The first explains most of the uses of cryptocurrency or digital resources, while the latter represents business applications. Payments, where Ripple is active, have aspects of both. "
Another question-answer pair was:
"Ripple team: Where do you see most of the use of digital resources and blockchain technology to solve real problems in today's business world?
Werbach: As I wrote about Medium during the summer, I see three largely separate uses emerge. The first is cryptocurrency. There the low hanging fruit is clearly payments, where there are serious inefficiencies that shift the money between silo and jurisdiction, as well as opportunities for financial inclusion where we are starting to see adoption. Along the way, cryptocurrencies will form the basis for decentralized applications. Those have enormous potential, but they are not yet ready for prime time. The second use is the master books distributed for monitoring resources or what I call translucent collaboration. This is particularly important in financial services and in the supply chain, where there are multi-trillion dollar problems because no on has a unified view of the whole system. Second-order functionality such as provenance (such as the Walmart system for tracing green leafy vegetables for food security and Eveledger's work in the diamond industry) as well as commercial finance, where huge capital could be unlocked, they are quickly coming into play. And finally, there is regulated cryptoasset trading, through the offer of security tokens and crypto-derivatives. The prospect of a secure, programmable, native-digital token that represents immaterial goods or assets is a dream of Wall Street, which that community is running to turn into reality. "
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