Ripple CEO: Don't call it cryptocurrency
Photo: finance.yahoo.com
Ripple is anchored in both. The company has two blockchain products that enable faster cross-border payments and faster liquidity for banks, and one of these products uses XRP, a digital token. XRP increased in value more than any other cryptocurrency (32,000%) in 2017.
But Ripple CEO Brad Garlinghouse does not consider XRP, bitcoin or any of the other major tokens to be cryptocurrency.
“I don’t call this cryptocurrency,” he said. “It’s not currency. I can’t go to Starbucks or Amazon and use—and you know, somebody inevitably will be like, Well, I have one example where I bought something with a bitcoin.’ And then I usually say, ‘Well, did you do a second transaction?’ It’s not actually a currency. These are digital assets. If the asset solves a real problem for a real customer, then there’ll be value in the asset.”
Read more: finance.yahoo.com
he is absolutely right ...indian government also called it cryptoassests....ripple listed in india's major exchange (zebpay) yesterday.
Actually that's better and more reasonable.
I think you can call it whatever you want , but yeah crypto assets are better. And about ripple is growing by some serious numbers and the growing rate is awesome.
yes crypto assets termed by indian government is welcomed...lets see further how is goes on
I do not like XRP but if it can make me some money I will take it..
It's not a currency and the powers that be, mainstream media etc do not want us to use it as a currency but it should be that widely available pfff it's a lot more secure than visa with almost 0% fees
EXACTLY!
Very interesting to hear him talk about the "assets" that way. As it stands right now he is right. Even though you may be able to find some places where your crypto will be accepted as pay,met, for the most part the coins are used to facilitate money movement or the complete some function within a block chain that gives value. The reason for my surprise is that in many cases there seems to be a push for people to want to use these currencies on a daily basis. There are projects popping up all the time where "digital assets" are being given the ability to function as a currency through the use of various smart cards. Companies are starting to shift to pay,net systems that allow for the use of crypto currencies. The big issue I see with this right now and possibly a big roadblock is the volatility of the market. The amount of crypto an item may cost each day is still always going to be tied to the USD. The value compared to real cash will mean you don't know how much crypto you will need until checkout.
True
i read this one earlier i thought about posting, im glad you did tho brother!
Recently in the budget announcement for the country, the Indian Finance Minister also suggested the same thing - these are not 'currency' and not legal tender (what currency actually is). Anyway what's in a name.
Cryptos are a speculative high volatility asset class, as simple as that. They could also function as a currency however, provided in good time, they have better adoption and stability.
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It’s true and it’s one of the reasons XRP gets so much hate as people say it’s not a “true cryptocurrency”. You could argue none of the major coins are either as they are not primarily being used for their intended use case but rather as a store of value/speculative asset.
Agree
what there in the name, it a good asset irrespective of what name you give it
That's why i hold all my xrp , because there's a potential to solve a problem trillions of dollar worth of transaction a day.
If it's not cryptocurrency then shouldn't it be removed from crypto exchanges?
LTC will be huge with LitePay...
XRP is a banker coin... not cryptocurrency anyway :p