XRP again had its advocates clearing the FUD around the coin. This time it was Brad Garlinghousethe CEO and Michael Arrington, Founder of Arrington XRP Capital, doing the job as the appeared on Tech Crunch’s Disrupt SF 2018. Not just this, XRP also was also presented with a great news as SAP begins testing XRP ledger.
From Ripple, XRP, decentralization to Banking Garlinghouse and Arrington clear the air
As Brad Garlinghouse began discussing Ripple and blockchain he began by saying that if one really wants to revolutionize the way payment works it’s not going to happen overnight and in singularity as everyone is not going to give up their existing infrastructure to take up something new. Although being a bitcoin bull, Garlinghouse said that one single ledger of Bitcoin is insufficient to solve all problems. This is where XRP comes into the picture as it has built technologies over the decentralized ledger. He also adds that the people who blame ripple and call it a devil actually do so is because Ripple went ahead and partnered with banks instead of replacing them.
On being asked about the decentralization, He said that the XRP ledger is completely Decentralised and Ripple cannot control that ledger. He added that Ripple only holds 7% of all public nodes on the ledger whereas in China 3 miners hold 50% of bitcoin nodes making Bitcoin more centralized than XRP. He said there is a FUD in the market that Ripple could block or roll back a transaction which was completely untrue. According to him the FUD of misinformation is creating a lot of Airgaps. TO make his point more clear Garlinghouse even said that if Ripple shuts down tomorrow the XRP ledger would continue to operate because it was independent.
Answering to XRP being a security, Garlinghouse said that a security gives center rights to the holder such as dividends, ownership and voting rights. He added if one buys XRP he doesn’t get any rights with respect to company Ripple. Question those who call XRP a security he said that,
“if XRP is a security, it is the security of what?”
Michael Arrington, whose Fund Arrington XRP Capital is based on XRP’s blockchain, was also present in the discussion also gave out his opinion why he selected XRP’s ledger over other to start his crypto fund. Apart from Arrington and Brad Garlinghouse being friends, Arrington stated that the XRP is right kind of currency for a hedge fund which needs to move a large amount of money all over the world. Not just that, the LLP who invest in Hedge Fund are also based globally and also desire to move their money quickly and cheaply. He gave an example by saying that they want to move USD 50 million and using RippleNet they could do that in 3 seconds and cost incurred was just 30 cents.
Arrington also mentioned the that Ripple had capabilities of replacing the SWIFT and he just prays that happens.
SAP begins testing of RippleNet confirms Sarah Austin
Sarah Austin, who is an entrepreneur and product marketing tinkerer at SAP, confirmed on twitter saying that the company is discussing tokenization of assets as something that can benefit the enterprise. She also mentioned that SAP is testing XRP integrations.
We will definitely be discussing tokenization of assets as something that can benefit enterprise, however, crypto as a feature is not something of high priority for the enterprise right now. SAP is testing XRP integrations. #BlockchainChat
— Sarah Austin (@sarahaustin) September 6, 2018
Although the details of how and what SAP is working on were unavailable this announcement definitely is a big positive for XRP. If this integration goes successful, XRP would reach every company and every user that uses the SAP system.
Clearing of FUD and finding a huge use case could be the best news XRP could get in sometime. The coin has been languishing irrespective of market sentiment on the dilemma that whether it is a security or not and this news should at least soothe some nerves.
Will XRP be able to cross the “being called a security” hurdle? Do let us know your views on the same.
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Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.