Two ‘Major US Banks’ May Soon Issue Own Cryptos on IBM World Wire, Is Ripple Under Threat?

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Two ‘Major US Banks’ May Soon Issue Own Cryptos on IBM World Wire, Is Ripple Under Threat?
IBM announced that two major US banks may soon offer their own cryptos on the IBM World Wire amidst growing concerns that Ripple’s dominance in this global remittance space may be under threat.
Two ‘Major US Banks’ May Soon Issue Own Cryptos on IBM World Wire, Is Ripple Under Threat?

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Source: CoinSpeaker

Ripple CEO Brad Garlinghouse talks about JPM Coin’s lack of interoperability

Ripple has been commenting on JP Morgan Coin [JPM]’s lack of usefulness since it was launched. Recently, the Chief Executive Officer [CEO] of Ripple, Brad Garlinghouse, shared his opinion of the coin, while questioning its usability factor and adoption by other banks.
During an interview at the Chamber of Digital Commerce’s D.C. Blockchain Summit in Washington, Garlinghouse started by appreciating JPM Coin and said that it was “great” to have a major financial player like JP Morgan in the crypto market.
During the fireside chat, Garlinghouse said that he thought it was “great” for the crypto industry to have major financial players like JP Morgan “leaning in.” However, the CEO quipped,
“That’s the only nice thing I’m going to say about this.”
Ripple has been promoting its Distributed Ledger Technology [DLT] to financial institutions for payments, along with other products that make use of XRP. Ever since the launch of the JP Morgan cryptocurrency, the company has been doubting its validity in the real world. Garlinghouse recollected another conference he attended in the last week and recalled,
“This guy from Morgan Stanley was interviewing me, I said ‘So, is Morgan Stanley going to use the JPM Coin?’ And he said ‘probably not.’ So, well is Citi going to use the JPM Coin? Is BBVA? Is PNC? And the answer is no.”
He reasoned, saying that a bank creating its own stablecoin raises the same problems that DLT is supposed to solve.
“So, does that mean we’re going to have all these different coins? Are we back to where we are with lack of interoperability? I don’t get it.”
Garlinghouse questioned the point of tokenizing fiat currencies when it remained in the books of the single entry. He also raised an issue, querying that if the bank offered a JPM coin in replacement of a dollar, which an individual will be able to move within the JPM ledger, then why not use the dollar, instead of getting it exchanged for JPM token.
“I don’t understand. If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don’t understand what problem that solves.”
Ripple CEO concluded by re-visiting his point that if the JPM Coin solved any problems, it would be great.
The post Ripple CEO Brad Garlinghouse talks about JPM Coin’s lack of interoperability appeared first on AMBCrypto.
Source: AMB Crypto

Ripple’s Brad Garlinghouse Mocks at JPM Coin Quoting ‘Other Banks Won’t Use it’

JP Morgan’s entry in crypto space with the launch its own stablecoin, JPM Coin was quite surprising and led to the increasing debate. Since the announcement rolled, rumors called it out as a direct threat to Ripple’s native token, XRP. However, in the opinion of Brad Garlinghouse, CEO of Ripple – so-called, JPM Coin is missing the point.
However, during a discussion with Nasdaq’s reporter Jill Malandrino at the Chamber of Digital Commerce’s D.C. Blockchain summit in Washington, Brad Garlinghouse answered to a quick question on JP Morgan’s JPM Coin. Although he immediately admired JP Morgan’s initiative to lean in – but immediately mocked by stating ‘that’s the only nice thing. In his words;
It’s great to have major financial players like JP Morgan to lean. That’s the only nice thing I’m going to say about this, Brad Laughed.

DC Blockchain Summit March 6th 2019Brad Garlinghouse talking about JPM Coin#xrp #ripple #xrpcommunity #crypto #blockchain #xrpthestandard #0doubt #xrparmy pic.twitter.com/J2H1FZh2wu
— ༜༝🅂🅃🅄🄰🅁🅃🅇🅁🄿💧⚡ (@stuart_xrp) March 6, 2019

Soon after this, he reminds himself of one occasion where he got to ask about the JMP Coin and its use cases – he continued stating;
“OK, so I got asked this last week. I was speaking at a Morgan Stanley conference, and someone asked me…there was this headline about JPM Coin. This guy was from Morgan Stanley who was interviewing me. So, I asked him ‘Is Morgan Stanley going to use the JPM Coin?’. He said ‘probably not’. Or is Citi going to use the JPM Coin? Is BBVA? Is PNC? And the answer is no. And so does that we’re going to have all these different coins, and does that mean we’re back to where we are with lack of interoperability? I don’t get it.”
As said earlier, Brad Garlinghouse doesn’t necessarily think JP Morgan as the threat to Ripple or its JPM Coin a rival to XRP either- However, he thinks the utility of JP Morgan’s coin is only for books. In contrast, Ripple, a San Francisco based Blockchain firm is reaching an enjoying a wider-scope with blockchain – having worldwide partners that are already utilizing its underlying products.
He further elaborates his stance on JMP Coin;
If you give them a dollar for deposits, they’ll give you a JPM Coin that you can then move within the JPM ledger. Wait a minute, just use the dollar! I don’t understand. If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don’t understand what problem that solves.
The post Ripple’s Brad Garlinghouse Mocks at JPM Coin Quoting ‘Other Banks Won’t Use it’ appeared first on Coingape.
Source: CoinGape

Ripple CEO: I Don’t Know What Problems Does JPMorgan Coin Solve

CoinSpeaker

Ripple CEO: I Don’t Know What Problems Does JPMorgan Coin Solve

Brad Garlinghouse, the CEO of cross-border payment giant Ripple, has weighed in on JP Morgan’s USD-pegged stablecoin, again.

Ripple CEO: I Don’t Know What Problems Does JPMorgan Coin Solve

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Source: CoinSpeaker

SBI Holdings Lays Faith In XRP, Says Get Ready For Bull Run In 2019

One of the most prominent and firsts conglomerate to have shown interest in cryptocurrencies has been the SBI holdings of Japan. From launching a few businesses around cryptos and being a strong partner to companies like Ripple, SBI holdings have made its mark in the crypto world. Hence its predictions on crypto markets can’t be left unheard where the CEO of the company has been bullish in regards to a $10 Ripple throughout the entire year.
Can Ripple be a top coin for 2019?
Yoshitaka Kitao – the President and Representative Director of SBI Holdings, has been a real supporter of Ripple and has spoken publicly a few times that how the coin is much better than many other frontline cryptos when it comes to value forecasting of the coin.
In its recent Q&A with media, Yoshitaka Kitao said XRP is dominating international expansion and will become global in the future.
SBI Holdings is a great partner of Ripple (XRP). It has Laos been in a joint venture with the US-based distributed ledger technology company R3 to establish SBI R3 Japan. This company also plans to use XRP to be utilized for international remittances via its Settler platform.
A few days back Kitao was also reported saying that he believes that in 2019, Ripple (XRP) will exceed the market cap of Bitcoin (BTC).
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
Great Partnership the ladder for success for XRP
While SBI has reasons to be bullish, Ripple in itself has been progressing great with its partnerships with leading financial institutions. The coins real-time use is something that makes SBI Holdings even more confident on the coin. The recent affirmation of Ripple CEO’ Brad Garlinghouse, that a ton of banks will use the products of Ripple by 2019 shows the partnership strengths and the prowess the coin commands which could make XRP a preferred partner for settlement specialist co-ops and monetary establishments.
Apart from the leading banks in the advanced nations such as the US, Japan, and Europe, Ripple has been able to make inroads in the Middle Eastern banks and financial institutions as well. The company has partners like National Bank of Kuwait and Saudi Arabia’s largest Islamic bank Al-Rajhi along with Kuwait Finance House. It has also formed great partnerships in Israel with the largest financial services firm there called GMT and has also with AkBank and Turkey.
With all fundamentally in favor of XRP, the question still lies in the minds of investors, is what would be the inflection point when the coin will start rising again. Will it be 2019?
Will 2019 be the year for rising of XRP? Do let us know your views on the same.
The post SBI Holdings Lays Faith In XRP, Says Get Ready For Bull Run In 2019 appeared first on Coingape.
Source: CoinGape

Ripple’s XRP Can Now be Spent in More than 40M Locations Across 180 Countries

CoinSpeaker

Ripple’s XRP Can Now be Spent in More than 40M Locations Across 180 Countries

XRP enthusiasts can now store the digital asset as well as spend it using Spend Visa Debit Card in 180 countries.

Ripple’s XRP Can Now be Spent in More than 40M Locations Across 180 Countries

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Source: CoinSpeaker

JPM Coin: Ripple CEO Brad Garlinghouse disagrees with use-case of cryptocurrency; says project ‘misses the point’

JP Morgan Chase, the biggest bank in the United States of America, valued at about $340 billion dollars, has announced that it was going to launch its very own stable coin cryptocurrency named JPM, which will be implemented to instantly settle payments between clients. However, competitor Ripple and its CEO had differing opinions to offer on this development.
The investment bank moves more than $6 trillion around the world for massive cooperation payments and settlements business. According to the institution, which is a banking partner to about 80% of the Fortune 500 Companies, only a tiny fraction of payments will initially be transmitted using the cryptocurrency. Even so, the trial represents the first real-world use of a digital coin by a major US bank.
The CEO of Ripple, Brad Garlinghouse, responded to the announcement on Twitter, saying that JP Morgan is missing the point with its new cryptocurrency.
He tweeted:
Source: Twitter
In 2016, when the Utility Settlement Coin was announced, Ripple CEO Brad Garlinghouse had predicted that he believed bank-backed cryptocurrencies would fail, in an Op-ed titled  “The Case Against BankCoin”.
He wrote that:
“A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out. Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their own digital assets with their own sets of rules and governance.”
He further added:
“The second big problem with the ‘utility settlement coin’ is it seems it’ll be backed by a basket of currencies. Once backed by cash, it’s no longer an asset; it’s a liability. Trading liabilities then ultimately requires moving cash across borders, re-creating today’s system but adding more friction!”
Garlinghouse further put forward the case of XRP being the premiere option for banks to bring independent digital assets into the picture. According to him, XRP is the best shot at truly bringing payment systems into the modern era.
However, Joe Weisenthal, co-host of Bloomberg’s “What’d You Miss?” segment, has said that he fails to see Ripple’s XRP compete with the forthcoming JPM coin. He stated:
“If it turns out that the Blockchain/Coin framework to be a good one for banks transferring money around, then the JPM Coin should absolutely obliterate Ripple. Think about it, let’s say you were in the business of transferring money, why would you take on the exchange rate volatility risk associated with having Ripple as a bridge currency, when you could have a fiat-coin backed by JP Morgan. No brainer.”
The post JPM Coin: Ripple CEO Brad Garlinghouse disagrees with use-case of cryptocurrency; says project ‘misses the point’ appeared first on AMBCrypto.
Source: AMB Crypto

Ripple (XRP) Boss: Bank-Issued Digital Assets A Deeply Misguided Idea

Ripple price edge lower
Brad Garlinghouse says bank issued currencies doomed to fail
Transactional volumes low

JPM Coin is a bank-issued coin, but it will fail if we factor in Brad Garlinghouse analysis. A synergy is mandatory, and Ripple’s InterLedger Protocol can solve their need. Meanwhile, XRP prices are down and trending inside Feb 8 high–low.
Ripple Price Analysis
Fundamentals
Back in 2017, David Schwartz, Ripple’s Chief Cryptography officer conceded that it would be years before banks adopt distributed ledger technologies. Backing his reasons were scalability and privacy issues. That was then, and right now, we have a new contestant in the sphere—JP Morgan and Chase backed JPM Coin, a stable coin that will serve three functions: eliminate locking of capital in foreign accounts, facilitate inter-bank settlement and be used by the bank for securities transactions. Because these coins are bank-issued, Brad Garlinghouse says they will fail. In a LinkedIn post he says:
“A bank-issued digital asset can only really efficiently settle between the banks who issued it. Then, two scenarios can play out. Scenario one: all banks around the world put aside competitive and geopolitical differences, adopt the same digital asset, agree on its rules, and harmoniously govern its usage. Fat chance. Scenario two (the more likely scenario): banks not in the issuing group issue their digital assets with their own sets of rules and governance.”
Candlestick Arrangement

At the time of press, each XRP was changing hands at 30 cents, and this is the seventh straight day of low-range, low volatility price action. Aside from upswings of Feb 8, Jan 30 and those of mid-Dec, the simple fact is that Ripple (XRP) prices are still moving inside Feb 8, high-volume bull bar. That is very bullish.
From a top-down approach, prices are oscillating inside Sep 2018 bull bar, placing bulls at a vantage point. All in all, our last Ripple (XRP) price analysis is valid, and with clear buy triggers at 34 cents, trend continuation is dependent to the levels of market participation and resultant range that will propel prices from current lows.
Technical Indicator
Volumes are low—averaging 15 million. That pales in comparison to those of Feb 8—at 35 million or Jan 30—at 49 million. Ripple (XRP) will only be bullish once a bull bar with volumes exceeding 49 million prints above 34 cents.
The post Ripple (XRP) Boss: Bank-Issued Digital Assets A Deeply Misguided Idea appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple CEO is open to Hire SWIFT’s Retiring CEO

During a Paris FinTech Forum 2019, held on Jan 29 and 30, Ripple CEO, Brad Garlinghouse kept an open offer to Gottfried Leibbrandt who is stepping down in June from a rival, SWIFT, a payment network.
Since Gottfried is stepping aside as CEO from SWIFT after working decades, the moderator asked to share his experience and the legacy that will move forward. In response, Gottfried says that the GPI is a big part of the legacy which would transform the banking industry. While he just concluded his answer, Ripple’s CEO couldn’t take a minute to offer him a job’. Interestingly, Brad says;
Ripple is Hiring..!
Well, the faceoff between Brad and Gottfried has long been an interesting concern for many – especially for those who are connected with crypto and payment industry. Indeed it happened.  For the first time, both CEO marked their presence at a panel on Jan 30, 2019, in the Paris FinTech Forum.
Moderated by CNBC’s Elizabeth Schulze, the panel was quite appealing as both argued over the future of cross-border payments. Specifically, the panel was scheduled with the core topic about finance i.e Let’s Send the Money’.
She posted a few mesmerizing questions to SWIFT’s CEO such as; ‘why Swift is the future over Ripple?. How do you feel about the partnership with Ripple?, Why not use Ripple’s technology for the revolutions? If it was more regulation in the crypto industry, is XRP something SWIFT with more optimistic about? and other questions unlike.
What do you think about the classic move by Brad? Will Gottfried Join Ripple? Let us know your opinion.
The post Ripple CEO is open to Hire SWIFT’s Retiring CEO appeared first on Coingape.
Source: CoinGape

Ripple-Swift Rumour Gets Rekindled as Ripple CEO Says, Open to “work with Swift”

Speculations around Ripple-Swift partnership is rekindled as Swift announces its partnership with R3 for its Corda platform that uses XRP and Ripple CEO Brad Garlinghouse said, Ripple was open to “ways we could work with Swift.”
XRP Surges as Swift Announces partnership with R3
As the crypto market turned green, XRP shot off nearly 10 percent. The 2nd largest cryptocurrency has been trading at $0.3194 at the time of writing, as per Coinmarketcap data. In the BTC market as well, it is in the green by 8.14 percent. With a market cap of $13 billion, it is currently managing the daily trading volume of $653 million.

XRP 7-days price chart, Source: Coinmarketcap
XRP has taken off on the back of rumour mill centering around Swift and Ripple. Today, Swift, the arch-nemesis of Ripple announced a partnership with R3, an enterprise blockchain consortium. And the rumour mill has already started going.

According to the announcement, the global payments network, Swift that has 11000 members to its name has launched a proof of concept (PoC) connecting GIP with the R3 Corda platform to “trial a new gateway to interlink trade and e-commerce platforms. The result of this trial will be published in September.
“Following the recent launch of our Corda Settler, allowing for the payment of obligations raised on the Corda platform, it was a logical extension to plug into SWIFT gpi,” said David E. Rutter, CEO of R3
Speculations Rife
XRP supporters are extremely excited and that can be seen in the sudden spike of its prices. Now the speculations are rising yet again, providing XRP the opportunity to achieve adoption by Swift.
One such enthusiast commented, “We’ve known this for awhile and yet people seem to still think that Swift and XRP have no connections whatsoever when that’s obviously not true at all. Looks like a lot of people are finally seeing what we have been saying for a long time now.”
And another one, “BOOM!!!!!! R3 and Swift! Perhaps XRP integration through Corda!”
However, this time there’s is a good reason for XRP community to speculate as not only R3 uses XRP with the Corda platform but today, at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt, who will be stepping down in June, talked about XRP.
“I think that the big part of Ripple’s value proposition is the cryptocurrency XRP. There we do find the banks are hesitant to convert things into a cryptocurrency right now because of the volatility in the currencies” said Leibbrandt.
Also, the presence of Ripple CEO Brad Garlinghouse on the panel that according to CNBC, said that Ripple was open to “ways we could work with Swift,” further fuels the fire.
The post Ripple-Swift Rumour Gets Rekindled as Ripple CEO Says, Open to “work with Swift” appeared first on Coingape.
Source: CoinGape

Ripple, Hold On! SWIFT Announces Integration with R3

CoinSpeaker

Ripple, Hold On! SWIFT Announces Integration with R3

R3 is taking the global financial network by storm. Recently, the blockchain enterprise took SWIFT away from the hold of Ripple and is threatening Ripple’s own existence.

Ripple, Hold On! SWIFT Announces Integration with R3

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Source: CoinSpeaker

Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals?

Earlier today at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt announced integration with R3. He said,
“we are announcing later today a Proof-of-Concept with R3 blockchain on trade, where you can initiate a payment on the trading platform, and then it goes into GPI. So we’re exploring interconnectivity with a lot of things.”
Swift is an 11,000-member global payments network that has established a global empire for cross-border payments. XPR gained 11.15% with a flash price rise from 0.288 to 0.319. RippleLabs and R3 have for long coveted a partnership or rather take-over of payment channel from Swift using the DLT platform.
The integration is nevertheless excellent news for XRP HODLers. Brad Garlinghouse, the chief executive of Ripple, a fierce competitor to R3 was also attending the conference who noted that
“I hear people talk about volatility and I feel like they’re propagating this misinformation,” he said. “Mathematically, there’s less volatility risk in an XRP transaction than there is in a fiat transaction.”
30-minute XRP/USD chart on Bittrex
Price Analysis of the Sudden Rise
The charts reveal that there was a ‘fundamental’ push in the price. The gap along with Volume rise signifies sudden market action because of positive news. However, a look at the RSI index – 75 in the same graph, the charts suggest oversold conditions. The 1-D chart indicates that if the price breaks the $0.34 resistance, then an upside towards $0.40 is on the cards.
Volume Rise Momentary Or Trend Reversal next? 
The massive global XRP community HODLing their XRP’s are long awaiting an XRP bull run to $5. The partnership currently involves only a small group of Swift partners in the Swift GPI upgrade team. Swift with a small test group, Swift GPI, has rolled out new series of protocols since the last year to compete with the growing DLT platforms and specially Ripple and R3.
R3 with its DLT platform, Corda; will provide service to the member banks and institutions of the Swift GPI team in a series of tests for integration and full-scale adoption. The number of banks in the Swift GPI program is only 165 when compared to the 11000 total membership.
Ripple’s XPR is confirmed to be used as the primary settler of transactions on Corda; however, the amount of XRP or the associated volume is clear as of yet. The test network would be used to create comprehensive results after real-world application. The surge in volume earlier during the day, hence, might be attributed to weak or over-hyped fundamentals.
The post Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals? appeared first on Coingape.
Source: CoinGape

Ripple’s CEO Brad Garlinghouse Hints at Their Readiness to Disrupt Gaming

CoinSpeaker

Ripple’s CEO Brad Garlinghouse Hints at Their Readiness to Disrupt Gaming

Being known as a company developing payment solutions, Ripple may soon enter the gaming industry, as its CEO mentioned games build on the XRP Ledger.

Ripple’s CEO Brad Garlinghouse Hints at Their Readiness to Disrupt Gaming

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Source: CoinSpeaker

Ripple CEO Adamant That Bitcoin (BTC) Won’t Collapse To $0

Although many bash San Francisco-based Ripple for supposedly plotting to kill Bitcoin (BTC), with Wall Street and financial incumbents no less, the firm’s C-suite head recently doubled-down on his love for the cryptocurrency. In fact, the crypto-centric financial technology upstart’s head refuted sentiment that BTC could capitulate to zero, citing its inherent value and expansive ecosystem.
Related Reading: Bitcoin Can’t Fall To $0 Nor Enter A “Death Spiral” — Mining Rules Deem It So
Ripple’s Garlinghouse Still Bullish On Bitcoin
While many still debate if the chicken or the egg came first, it is widely understood that Bitcoin came before blockchain. However, attendees of Davos, Switzerland’s recent World Economic Forum convention have stuck to the “blockchain, not crypto” script, bashing digital assets with a religious fervor. As NewsBTC’s Joseph Young recently put it, that’s like saying “airplanes will go to zero while engines have potential.”
The dichotomy between attendees’ enamorment with blockchain and their disgust towards cryptocurrencies was so strong that one investor claimed that BTC could fall to zilch. Jeff Schumacher, as the skeptic is known, claimed that Bitcoin shouldn’t hold value, due to the controversial idea that it isn’t “based on anything” and isn’t environmentally sound.
However, Brad Garlinghouse, the incumbent chief executive of Ripple, surprisingly came to Bitcoin’s rescue. Garlinghouse, a forward-thinking tech entrepreneur, first claimed that the long-term value proposition of a digital currency is “derived from the utility it delivers.” And with that at the forefront of his thought process, the Ripple chief remarked that there are many cases where so-called “utility tokens” have nebulous, often misconstrued use cases.
Yet, he went on to claim that this isn’t the case with Bitcoin. Garlinghouse noted that he isn’t ready for BTC to fall off a proverbial abyss, adding that he still holds the cryptocurrency personally. But Garlinghouse made sure he wouldn’t be remiss to cast aside the network’s scalability qualms, noting that the Proof of Work (PoW) consensus mechanism that Bitcoin utilizes is likely to fall short.
This aside, the American technology guru made it clear that BTC will likely always have value as a digital version of gold, just as the Winklevoss Twins, Lou Kerner, and other long-time crypto enthusiasts have stated historically.
Garlinghouse’s peers on the CNBC panel, save for the aforementioned diehard cynic, echoed the Ripple chief’s thoughts that Bitcoin is likely to have some semblance of value in the future. Glenn Hutchins, the chairman of financial technology services provider North Island, claimed that the flagship cryptocurrency will likely play a role as “bringing value back to [one asset], as you have other tokens that you aren’t using at the moment.” In other words, Hutchins is stating that Bitcoin is likely to become an intermediate digital store of value in a broader digital ecosystem/economy.
Davos’ crypto-friendly attendees aren’t the only pundits who claim that BTC is unlikely to fall to $0. Per previous reports from NewsBTC, Alex Pack, the managing partner at Dragonfly Capital Partners, recently told Forbes that BTC has achieved an unexpected major milestone in 2018, in spite of falling prices. This milestone, Pack revealed, is the fact that there’s a non-zero chance that Bitcoin will always have value.
The Dragonfly partner remarked that while BTC could fall to $2,000 or even $1,000, it would be preposterous to assume that the asset could collapse to $0, as the cryptocurrency has developed a material value proposition. The Dragonfly managing partner noted that Bitcoin, a “landmark in the history of money,” has become a “dependable store of value.”
“Blockchain, Not Crypto” Cries Mount At Davos
While Bitcoin has found a surprising ally in Garlinghouse, one of the most powerful participants in the broader cryptosphere, it wasn’t enough to stop cynics’ cries at Davos. In fact, as firms worth billions and governments representing millions convened at the de-facto king of conferences, “blockchain, not crypto” somehow became a hot topic.
Speaking to RT, Aleksandr Ivanov of Waves claimed that “cryptocurrencies are just a small part of blockchain technology.” Even incumbent PayPal CEO Dan Schulman expressed skepticism towards cryptocurrencies, but optimism towards blockchain technologies.
Schulman noted that crypto is “more of a rewards system for implementing blockchain,” rather than a currency system in and of itself. He added that the industry has seen scant retailers adopt this form of exchange, even as infrastructure has been bolstered en-masse.
Interestingly, the company was reported to have recently begun an internal test of a crypto assets system, which allows employees to earn tokens for “experiences.” PayPal also recently started to accept withdrawals from Coinbase via its service. These two occurrences alone don’t indicate that PayPal is bullish on cryptocurrencies though, that’s for sure.
Schulman’s recent comments come months after former PayPal C-suite head, Bill Harris, infamously deemed Bitcoin “the greatest scam in history.” Harris even quipped that cryptocurrencies are cult-esque, noting that Bitcoin isn’t “free, instant, scalable, efficient, secure, globally accepted and useful.”
So, it seems that the incumbents of the traditional world are hesitant to accept cryptocurrencies with open arms. But, many optimists in this budding industry believes that this will change with ample time.
Featured Image from Shutterstock
The post Ripple CEO Adamant That Bitcoin (BTC) Won’t Collapse To $0 appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple CEO to Ethereum [ETH]’s Joseph Lubin: “Ripple is trying to lead by example”

Brad Garlinghouse, Brian Behlendorf, and Joseph Lubin spoke at a panel, Ethereal Davos and had a healthy debate about what decentralization means on January 23, 2019.
Brad Garlinghouse addressed the issue revolving XRP and it being “centralized” and said that XRP Ledger is more decentralized than its mining-based counterparts. He said:
“It’s [Ripple] not a Proof-of-Stake model, so owning a lot of something doesn’t give you control over something. The XRP Ledger is an open source decentralized technology, there’s about a 100 validators that manage the network. Ripple manages less than 5% of those nodes, and we cannot enforce upon the XRPL  anything that the XRPL doesn’t want to.”
He continued that there are holy wars, financial interests, and a lot of FUD around Ripple or the XRP Ledger. In addition, he said that people talk about XRP being centralized because they want to paint it that way.
Joseph Lubin stepped in at this point and decided to have a healthy debate with Garlinghouse. He asked Garlinghouse:
“XRP is a value token and it trades in an open market. If the CFTC  noticed that you own 60% of the silver token, how comfortable would they be?”
Garlinghouse replied:
“I won’t speak for the CFTC. We have in escrow 55% of all the XRP that we own. We can’t sell it, we can’t do anything with it… I think the, for the whole industry to mature we need to have transparency in the industry and Ripple is trying to lead by example.”
Lubin had a comeback to Garlinghouse’s “transparency” reply by saying that the other digital assets [like Ethereum] are decentralized in terms of the ownership of the token.
Garlinghouse said:
“Ownership of the token is decentralized in so far as they work on Proof-of-Stake… If its a mining based protocol then centralization is based on mining control and not on the ownership.”
@XRP_Ninja, a Twitter user commented:
“I never understood what was so wrong about Ripple selling their XRP.
They own it. They can do with it what they like – not to mention that the selling of it actually has a purpose.”
Tiffany Hayden commented:
“Ripple is the only transparent company in the BLOCKCHAIN space and they are punished for it. We should follow Brad’s lead and turn the table on these other companies who hide in opacity.
Oh! Let’s start a rating system!”
The post Ripple CEO to Ethereum [ETH]’s Joseph Lubin: “Ripple is trying to lead by example” appeared first on AMBCrypto.
Source: AMB Crypto