On Tuesday 13th, the CEO of Ripple Brad Garlinghouse was interviewed at Bloomberg to discuss the future of XRP, the native cryptocurrency of Ripple.
Could Ripple be the next Bitcoin?
With this question the interviewer opened the discussion and then interrogated Garlinghouse whether he considers this as a compliment. The answer from the CEO was in the affirmative as long as Ripple is solving a real problem. In his words: “the excitement around the digital asset is because it is solving a real problem”. He highlighted that the most important thing in cryptoverse is to understand what is real and what is just hype.
Brad Garlinghouse believes that the era of Bitcoin has passed and now the doors are open to the next generation of cryptocurrencies including the Ripple. The CEO compared the gold currency to Napster. As Napster was the first to digitize music but was not successful and the new generation of digital music applications like Spotify, Itunes and Pandora are now more popular and successful than Napster. According to him, the same applies to the cryptocurrency space. The new generation of cryptocurrency is now solving some of the original problems that Bitcoin is set out to solve.
Ripple the cross-border payment currency was the best performing digital asset in 2017. Ripple has worked with regulatory institutions like Banks. In keeping with him, this is the reason behind the good performance of the digital currency. And what is considered to be a major concern of many cryptocurrency advocates, he viewed it as the best way to keep the digital currency perform well. Garlinghouse voiced optimist to incorporate the cryptocurrency within the regulatory institutions.
Ripple CEO contrasted the traditional way to transfer money across borders with Ripple payment method by saying: “We are changing the nature of payments that take days to be sent to California, to seconds.” And when he was asked about cryptocurrencies volatility, he reclaimed that XRP transaction time is very fast that makes the volatility risk taking negligible, and to settle his position, he compared Bitcoin transaction to XRP transaction, as the latter is thousand times faster.
Ripple, the company, has hundreds of customers around the world. It partners with over than hundred banks. The San-Francisco based company ensures worldwide money sending using Ripple’s blockchain technology.
For today 15th of March, XRP is down hitting $0.69, retesting the lower support of $0.69.