Ripple CEO Exploits Market Downturn to Continue Commentary on Bitcoin

Ripple CEO Exploits Market Downturn to Continue Commentary on Bitcoin

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Answer Ripple CEO Exploits Market Downturn to Continue Commentary on Bitcoin

It would be an exaggeration to say that Ripple CEO Brad Garlinghouse is a regular critic for bitcoin After all, he is an investor in Bitcoin But there is no doubt that he used the downturn in the market as an opportunity to criticize the most famous cryptocurrency.

The most recent of these criticisms came this week in Boston, where he was a speaker at a conference Stifel Cross Sector Insight Conference And tell everyone that China is in control in bitcoinIn his speech, he said:

“I will tell you an unreported but important story, China controls Bitcoin, there are four Miners in China that control more than 50% of Bitcoin. Bitcoin How do we know that China did not interfere? And what countries want to use a currency controlled by China? This did not happen.”

Read:Iran Licenses Bitcoin Mining Company With 6000 Mining Devices

He added that “Bitcoin It is not the solution we thought,” confirming what he said earlier this month that Bitcoin It will not become the main currency that many believe, including Jack Dorsey and Steve Wozniak!

In his speech, his opposition that the blockchain technology is sufficient to disrupt banks, he said:

“Blockchain will not disrupt banks, although it will play an important role in the way our system operates. It is a short-sighted view.”

This last observation is not surprising, given that Ripple’s San Francisco business model relies primarily on the use of distributed balancing technology (DLT) to help financial institutions conduct cross-border transactions more efficiently.

The company is the main backer of XRP – often colloquially referred to as the rebel given the close connection between the assets and the company – and has partnered with several high-profile financial services firms such as Western Union and MoneyGram to pilot the use of XRP in their payment flows.

Read:Opinion: Is the EOS project a fraud?

At present, XRP ranks as the third largest currency in the world with a market cap of $21.2 billion. The majority of XRP tokens – issued or not – are controlled by the rebel.

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