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Ripple / XRP: the private XRP FUD register arrested by the Ripple CTO

The XRP FUD private ledger broke out after news about the transfer of money from Mexico to the United States took place a few days ago. The people who tried to find the transaction on the XRP register failed to do so and were convinced that there was indeed a private ledger for xRapid transactions via XRP.

As for the company, they carried out a transaction valued at £ 3,521.67, ie 86,633.00 from the United Kingdom in Mexico. The company also said it had saved 79.17 pounds and 31 hours on this transaction.

@MarkCryptos and @ XRP_Mahn1 both asked a similar question to Ripple's CTO, David Schwartz if this were indeed true in separate tweets.

@ XRP_Mahn1 asked:

"@JoelKatz Some people seem to think that there is a ledger and a hidden ledger (one retail, one institutional) that will eventually be united, which in my opinion seems ridiculous since the protocol rules state that a state is valid and it is immutable. "

David Schwartz replied:

"It's hard to imagine how such a fusion would be.It should be following the rules of the public ledger.It's a little fun, I was thinking today just how nice it would be if I could run the XRPL software in a private accounting mode and then bridge …
to the public ledger. For example, you might have a resource issued on both master books that is filled by the validators of the private ledger that multisign txns for the public ledger. Actually it's a great case for cutting taxes and proportions of the txn. "

The conversation on the Twitter thread continued and a user asked if there is a possibility of a private ledger that could be set up between organizations for transactions via xRapid

Schwartz went on to say that the XRP register is public and is the "authoritative evidence" that a person holds XRP. He went on to say that there were ways in which a person / organization could use the real XRP on a private ledger, but would require that person / organization actually purchase XRP to make the bridge.

David Schwartz further stated:

"This gives you two interesting use cases: 1) No XRP for cases where the cost of XRP is a factor.You need / use XRP only when you need to interact with the public ledger 2) XRP completely connected, for cases where liquidity and connectivity are desired and no small costs are involved. "

In addition, Schwartz said that none of these was yet built and, even if it were to be done, it would not be difficult. Furthermore, he said that if such a thing were to happen, it would be questioned whether the system was centralized. He continued that he liked the idea of ​​the federation's ledgers.

David Schwartz concluded by saying:

"If you were creating such a walled garden, why use a cryptography or blockchain? It seems like recreating the private account balances – what everyone has already done."

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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time journalist at AMBCrypto. He holds XRP because of peer pressure, but otherwise he found a day of trading with that little capital he owns.

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