Ripple's CEO, Brad Garlinghouse, in AMA, argues that XRP is not a security and institutional money to enter aggressively soon when the railways are established. Speaking of the fact that Bakkt is a great deal and a sign of industry maturation, he further deepens xRapid, Swell conference and more.
XRP is not a security at all
Brad Garlinghouse, CEO of Ripple yesterday had an Ask Me Anything (AMA) hosted by Ripple Cory Johnson's Chief Market Strategist. Brad discussed many topics that gave an idea of what is happening to Ripple and its products and the entire cryptography market in general.
Speaking of the security aspect, he stated that it is a good thing that the US SEC has said Bitcoin and The ether is not securities. Arriving at XRP, he explained how recently the Abu Dhabi Global Market (ADGM) came out and clearly stated that XRP is not a security.
Regarding the XRP not being decentralized, according to him, there is a lot of misinformation around this. He said that the blog post shared by Ripple CTO, David Schwartz is profound and powerful in explaining this that he believes that XRP is much more decentralized than Bitcoin and Ethereum.
David Schwartz shared,
"With Bitcoin and Ethereum, a surprisingly small number of miners could collude to destroy the system.To date, four mining groups currently control 58% of the Bitcoin network and three miners represent 57 % of Ethereum's daily capacity In addition, 80 percent of Bitcoin's blockchain mining activity is centralized in China, despite the country's ban on digital resources, which entails a greater risk of being manipulated by a single sovereign government. "
While" On the contrary, the register XRP requires 80% validators on the entire network, for a period of two weeks, to continuously support a change before it is applied Of the approximately 150 validators today, Ripple only runs 10. "
In addition, read: 2.5 million Revolut users now get Cash Back in Bitcoin Bitcoin Cas h, Ethereum Litecoin & XRP
Monetary Institution, XRP, xRapid and more
Starting with institutional money, Brad shared that industry underperformed in terms of institutional interest and good reasons, or lack of regulatory clarity. But the coming years will see an aggressive participation when the railways have already been established.
Although he expected more, he mentioned the new exchange advocated by ICE, Bakkt which according to him is a big problem and indicative of a ripening of the cryptic industry.
Discussing custody encryption solutions, he believes he will start with small players before the big ones enter the market. It is a possibility that these traditional custodians enter into a partnership with small actors.
Regarding the XRP development, the first quarter saw a new product additive (customer) per week while the second quarter two additions to the week, and now the third quarter is seeing a record number. Turning to another highly anticipated product, xRapid should be officially launched by the end of 2018. The target market for this product is a less efficient payment corridor such as Mexico USA.
In addition, 25 universities will participate in Ripple University Blockchain Research Initiative (UBRI). In addition, the upcoming Swell conference on October 1 and 2 with former US president Bill Clinton as the keynote speaker will give Ripple customers the opportunity to talk to each other.
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