Over a series of posts, Ripple CTO David Schwartz defended the platform’s successful trajectory, pushing back against the critics’ attack. Focusing on Ripple’s unique features and collaborations, Schwartz highlighted the platform’s strategic vision and long-term efforts.
The discussion was initiated by an XRP critic on the X platform, who addressed Ripple’s XRP Ledger (XRPL) as a “ghost town” with no activity.
The user then nudged the Ripple CTO to explain XRPL’s unique features. Schwartz countered by sharing Ripple’s growth phase and its diversification.
Schwartz said that features like stablecoins, NFTs, a DEX, and “low-risk” made XRPL different. He also stated Ripple is working on a crypto payment system that will change the traditional financial system.
Some disagreed with Schwartz’s statements, but he maintained that Ripple’s achievements are unmatched. He also expressed concern about the slow adoption of crypto and blockchain payments. He cited regulatory uncertainty, user preference for traditional banking, and poor user experience as key barriers to wider adoption.
Clarifying Ripple’s Vision
The XRP critic questioned Ripple’s partnerships with banks, claiming they contradicted the company’s vision. Schwartz clarified that Ripple aims to help banks adapt to the changing financial landscape, where they face increasing competition from non-bank entities and online lenders.
Read also: Headwinds Are Turning to Tailwinds For XRP – Ripple CEO
He emphasized that Ripple’s goal is to eliminate interbank fees, not the fees charged directly to customers. By streamlining these processes, Schwartz believes Ripple can help banks reduce costs, improve efficiency, and ultimately retain customers.
In related news, Ripple CEO Brad Garlinghouse suggested that Ripple may work with Charles Hoskinson’s Cardano. Neither company has officially said that they will work together, but their conversation on X made people think that they will.
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