Ripple XRP is known as one of the top cryptocurrencies in the market residing on the third spot on the official ranking list right after Bitcoin and Ethereum. However, Ripple makes up for one of the most controversial digital assets in the market as well, given the fact that a part of the worldwide crypto community claims that XRP is centralized.
Brad Garlinghouse, the CEO of Ripple XRP has shared his opinion on these allegations firmly standing by his words that XRP is in no way centralized, and as such represents a fully decentralized blockchain-based digital asset.
He further added that Ripple XRP is actually represented as a company focused on establishing faster global remittance network, further stating that XRP was not issued by Ripple.
It seems that Garlinghouse had a point about XRP since all three lawsuits, some claiming that XRP is centralized and that the Ripple company has been using XRP for their own business ventures and some claiming that XRP is centralized, were ruled out in favor of XRP by the US Federal Court.
Moreover, in the middle of the prolonged price crisis in the market, Garlinghouse claims that Ripple (XRP) is here to stay. Here’s why.
Ripple’s CEO on XRP and Decentralization: Ripple Didn’t Issue XRP
After being accused of carrying out a centralized project under the veil of blockchain “Big Bang” in order to fund personal and business ventures of Ripple company, Ripple is still stubbornly occupying the third place on the official ranking list.
With over 10.4 billion dollars in market capitalization, Ripple XRP makes up for one of the most successful blockchain-based projects among nearly 2,000 different ICO and blockchain startups, among which many coins and tokens are said to not have a single concrete use case.
On the other hand, Garlinghouse stated that Ripple XRP stands for one of the rare blockchain projects that actually has a clear use case, which is to improve the way global payments are being processed through traditional financial systems, that way making a global remittance network that would offer faster processing times as well as lower charges in transaction fees.
Furthermore, in the Stanford Legal Podcast where Garlinghouse talked about Ripple and XRP, the CEO of this blockchain project stated that Ripple foundation didn’t issue XRP, which further confirms the decentralized nature of the project while XRP exists independently from Ripple as a company.
Garlinghouse further stated that some of the developers who were previously working on Bitcoin started to work on XRP as a product of realizing that Bitcoin might have scalability issues making the network slower over the time as more BTC users are joining, which is why some devs from the team decided to come up with a faster, more scalable and cost-effective blockchain-based solution, that way creating XRP.
That being said, the conclusion goes towards having XRP as a fully decentralized blockchain-based open-source solution while Ripple as a company is offering global remittance solutions for creating more cost-effective and faster payment systems through banks and financial institution.
Ripple (XRP) is Here to Stay
Despite the shaky market trends and tones of uncertainties regarding the future of value of cryptocurrencies, especially regarding ETH which is now seen dropping below 200$ on September 11th, Garlinghouse claims that Ripple is here to stay.
Even though SEC has yet to decide what the faith of XRP will turn out to be as the team is still waiting for the Securities and Exchange Commission to provide their decision on the matter of XRP being currency or a security, the CEO of the project claims that since Ripple has a clear vision of what they want to achieve with blockchain, XRP will stick around while dictating gains in the long run.
While many currencies are seeing price pumps in different hyped up news, Ripple’s CEO stated that XRP will not be suppressed to any hype, maintaining its value through Ripple’s use case, which is to establish faster and more efficient payment systems across the globe with collaboration of around 600 partners that Ripple has collected by far.
The majority of Ripple’s partnerships are sealed with banks and financial institutions like Santander bank, SBI group, Western Union, Saudi Central Bank, and hundreds of other banks across the globe.
Garlinghouse claims that since Ripple XRP is one of the rare companies related to blockchain industry that has monetary values going through its systems, xRapid, xVia, and xCurrent, while other projects are usually only involved in trading, making XRP and Ripple eligible to stay around in the long-run as it practices its use case of representing perhaps the fastest global remittance system.