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,
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.