In a series of publications, Ripple CTO David Schwartz defended the platform’s successful development trajectory, fending off attacks from critics. Focusing on Ripple’s unique features and collaborations, Schwartz emphasized the platform’s strategic vision and long-term efforts.
The discussion was sparked by an XRP critic on Platform X who called Ripple’s XRP Ledger (XRPL) a “ghost town” with no activity.
The user then asked Ripple’s CTO to explain XRPL’s unique capabilities. Schwartz responded by talking about Ripple’s growth phase and its diversification.
Schwartz said features such as stablecoins, NFTs, DEXs and “low risk” set XRPL apart. He also stated that Ripple is working on a cryptocurrency payment system that will change the traditional financial system.
Some disagreed with Schwartz’s statements, but he argued that Ripple’s achievements are unparalleled. He also expressed concern about the slow adoption of cryptocurrency and blockchain payments. He cited regulatory uncertainty, user preference for traditional banking services and poor user experience as key barriers to wider adoption.
Ripple’s vision explained
An XRP critic has questioned Ripple’s partnerships with banks, saying they go against the company’s vision. Schwartz explained that Ripple is committed to helping banks adapt to the changing financial landscape, where they face increasing competition from non-banks and online lenders.
Read also: Headwinds are turning into tailwinds for XRP – Ripple CEO
He emphasized that Ripple’s goal is to eliminate interchange fees, rather than fees charged directly to customers. By streamlining these processes, Schwartz believes Ripple can help banks cut costs, increase efficiency and, ultimately, retain customers.
In related news, Ripple CEO Brad Garlinghouse has suggested that Ripple could work with Charles Hoskinson’s Cardano. Neither company has officially stated that they will work together, but their talk about X made people think they would.
Disclaimer: The information provided in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any damages incurred as a result of the use of content, products or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
