Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => XRP - Ripple Forum => Topic started by: PRIBO247 on December 20, 2018, 07:36:45 PM
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CEO Of Ripple, Brad Garlinghouse has subsequently spelled it
out that “ XRP is not a security.” There has been a major
debate among investors, users, and enthusiasts on XRP being
security.
In an interview session named “Ask Me Anything” with the
head of marketing at Ripple, Monica Long, when Brad was
asked if Ripple’s XRP token is a security or not, he replied that
‘XRP is clearly not security.”
He went on to explain that XRP is independent of Ripple Labs,
and is capable of outliving the company because it is traded
on so many platforms and will continue even if Ripple Labs
shuts down. But the company owns more than 60% of the
token.
“There is a whole bunch of base layer reasons for
that. One of the most important I think is … if Ripple
the company shuts down, XRP trades on over a
hundred exchanges around the world and XRP will
continue to trade.”
Whether XRP is a security or not has been a controversial
issue which has affected the investors and partners firmness
concerning XRP. Two major exchanges which had plans to list
XRP on their platform have been reluctant based on this
security issue.
This has been a partial hindrance to the growth of XRP,
another issue that negatively affects XRP is that Ripple
partners with banks, this is against the aim of decentralization
as envisioned by the bitcoin founder, Satoshi Nakamoto. So
much involvement with the bank might give the banks access
to control XRP, therefore frustrating the aim of digital currency
which is functioning in a decentralized system.
Though Ripple’s CEO has cleared the air by his statement that
XRP is not a security, investors and prospective partners like
Coinbase and Gemini may still need further clarifications.
Ripple’s XRP is the second largest digital currency , being
listed on any of the above-listed exchange platforms would
increase its growth and acceptance.
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