The Ripple Demon

When the cold begins to fall in my town, I try to find warm readings. At which I came across an interview with Ripple CEO Brad Garlinghouse on stage at Disrupt SF last week, by TechCrunch’s Mike Butcher with a relentless and fun line of questions about the activities of the controversial technology company financial.

Ripple Labs, which offers global business payments in the block chain, is the issuer of XRP, the third largest cryptocurrency in the world by market capitalization. The company has been sued for securities fraud by furious investors who lost money in the recent fall and claim that Ripple created the XRP token to finance its operations and the development of the XRP ecosystem.

You are the devil?

I am not the devil,” replied Garlinghouse, laughing. “People who say that Ripple is somehow the devil, is because we are associating with man. Today’s cross-border payments are slow and expensive. Ripple invented a series of technologies based on XRP records that allows institutions, banks and even, in some cases, the government to drastically accelerate the nature of transactions.

Mike Arrington, founder of TechCrunch and Arrington XRP Capital agreed, “XRP is a fantastic coin to use, among other things, funds. We need to move a lot of money very fast. We make investments throughout the world. The use of banks to move money is a pain. Have you ever sent money on an international cable? You have a call, have you got it? And that? No, I did not understand. It takes a day or two to move money around the world. With XRP, our first closing was $ 50 million. We moved that money in about three seconds and I think it cost 20 or 30 cents.

How much is too much?

Garlinghouse tops Forbes’ list of billionaires, along with the founders of Ripple, Chris Larsen and Jed McCaleb (also founder of Mt. Gox and Stellar, Yes, that Mt. Gox).

Ripple has not only been in the news of trials, but has also been in the news of charities. Ripple investor Ashton Kutcher of Sound Ventures has been speaking on behalf of the company, announcing high-profile donations from Ripple to charities backed by celebrities such as Madonna Raising Malawi and Ellen Degeneres Wildlife Fund. On March 26, Ripple made history with the largest single cryptocurrency donation in history, giving away $ 29 million in XRP to fund the 35,647 campaigns at Donors.

Butcher questioned whether the XRP infusion was really philanthropic or simply a desperate attempt to pump the excess XRP from the mine to the ecosystem to boost prices. “So, you can think of a fantastic ability to move money around the planet, but the prices of XRP are crashing. You are trying to get the banks to use the real currency. They are using the Ripple protocol but they are not using XRP, right? You mined all this money and made a lot of money. You’re trying to get people to use XRP. ” The journalist said.

Rlinghouse responded: “Silicon Valley does not do enough to give back. We can be accused of being the devil in terms of how we associate with the system. I have never been accused of being the devil because, you know, they are philanthropic and supportive causes that are really good for the planet. ”

When asked, Arrington said he was never offered free XRP to plant his fund.

Butcher then asked Garlinghouse if he paid influential social media to promote the XRP. “What’s happening with the XRP fanboys on Twitter. Are you paying shill? Are you trying to boost the currency? ”

Garlinghouse replied: “We do not pay them. We have many defenders. ” Reading this, I wonder, if you really believe that we do not know the world of social networks and influencers, but hey … I’m still cold, keep reading these demons) Arrington added: “One of the most interesting books I’ve read it’s Guns, Germs and Steel. We are naturally tribal and we form teams. Fanboys for Bitcoin and Fanboys for XRP say almost the same, they are really enthusiastic that they have changed their lives and those of their family. ”

Butcher continued: “Your criticism of Ethereum is that it has a large network of developers, and you are trying to increase the number of developers using XRP with Xpring. Are you trying to boost the market, do you think? ”

Garlinghouse responded: “The observation I would make about the Ethereum ecosystem today is that there is a lot of experimentation. There are not many implemented successfully, solving real problems. There is a project that I find very interesting called Augur. ” Garlinghouse added that he did not own any ether, but he did own bitcoin.

 

To what extent have the demons reached the world of cryptocurrencies? To what extent do the users of cryptocurrencies, the true users, still have control over the ecosystem?

Daniela Caro

Writer by birth, curious by profession … I learn a little more every day from the cryptocurrency.

Daniela Caro

Daniela Caro

Writer by birth, curious by profession ... I learn a little more every day from the cryptocurrency.