Is XRP Really Decentralized?

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Of late, there have been some arguments from some quarters within the crypto community that XRP isn’t entirely decentralized due to its ties to Ripple, the company, and its efforts in creating in-roads in the banking sector. Currently, various major banks and corporate institutions across the world are using Ripple’s RippleNet, a blockchain-based network that allows banks to send money across borders faster and more securely using XRP as the base currency. Such use of a cryptocurrency by traditional banks is one of the reasons that critics argue that XRP isn’t purely decentralized.

However, the company has been making huge steps to dispel these reservations and paint the crypto in a better light. For starters, Ripple has made it clear that XRP (the cryptocurrency) and Ripple (the company) are two completely different entities and that Ripple has no control over XRP. This claim sits well with Ripple’s argument that XRP is an entirely decentralized cryptocurrency just like others like Bitcoin. After all, that’s what Satoshi Nakamoto envisioned when he created the first crypto network (Bitcoin). See more for yourself here.