Earlier this week, Ripple CEO Brad Garlinghouse spoke at Money 20/20 Asia’s “A New Payments System for the Digital Age” fireside chat, where he discussed his vision for the future of his company, XRP, and the Internet of Value. Unsurprisingly, he also argued for centralization in the cryptocurrency space.
The highlight of Ripple CEO Brad Garlinghouse’s discussion at a Money 20/20 earlier this week unsurprisingly came when the centralized currency’s leader argued for centralization in the cryptocurrency space. Rather than build on Bitcoin’s promise of decentralized value transfer, Garlinghouse argued that digital assets should help work with and promote the interests of traditional financial institutions, as opposed to undermining them.
Said Garlinghouse: Global payments and banking won’t be changed from the outside; they will be changed from within. Still, Garlinghouse tried to save face with cryptocurrency proponents favoring decentralization by adding: The reality is we’re working with decentralized technology.
If Ripple goes away, and I really hope it doesn’t, the XRP Ledger will continue to exist. Garlinghouse shared the stage with Dilip Ratha, the World Bank’s lead economist for migration and remittances, who stated that his institution’s goal is to lower the cost of remittances worldwide from 7 percent to 3 percent by 2030.
Garlinghouse immediately backed this up: If we haven’t lowered the cost of remittance payments by 300 basis points by 2030 as a business, we have failed. If we’re successful, we’re not talking about 300 basis points. Read more from altcointoday.com…
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