Battle of Ripple and Swift The domination is heated, and the executive director in the last excavation in XRP, the bridge currency for the cryptographic payment service. The management also explained why companies are unlikely to trust Ripple, despite the conclusion of the SEC claim.
Swift Executive criticizes Ripple and XRP
Swift Chief Innovation Officer (CIO) Tom Zschach said on LinkedIn That the surviving trials are not immunity, in response to a post he praised Ripple and XRP for the fight SEC. The voivode said that he was neutral and joint management, what immunity is about and that institutions will not want to live on the competition railways.
Thanks to his commentary, Zschch again raised the issue of centralization in the XRP ecosystem. The Book of XRP and its native token were largely criticized as mainly dominated by Ripple, although the cryptographic company denied this. Swift CIO also suggested that most institutions would not want to operate Book of XRP or XRP, because Ripple is a direct competitor for them.
In particular, Ripple submitted an application for National Banking LicenseWhich, if approved, would place it in the same league as the banks, which the cryptographic company intends to deck on the payment rail. It is no differently than Swift, whose operation is simply to serve these banks and does not act as a competition for them. However, ripple payment solutions operate blockchain technology, which is faster, which gives an advantage over the quick.
Interestingly, Zschach’s comment appears at a time when Ripple management is criticized for dropping XRP, using cryptocurrencies Perilous bitlord Taking actions against a cryptographic company if they don’t stop selling their resources.
Kryptographic Pundit stated that a cryptographic company can sell its shares because they are unprofitable and have too much competition. Bitlord also stated that governments do not accept Ripple technology and that banks will decide to launch their payment rails instead of using a cryptographic company.
Ripple strives to comply with the wrong way
. Swift CIO He also responded to praise about how ripple loudly was prioritizing compatibility through cooperation with regulatory bodies. Zschach said that compliance does not apply to one company convincing regulatory authorities, that it should be operated. Instead, he said that it was about the whole industry, which agrees to common standards, that no single balance controls.
It is worth mentioning XRP scanning data It shows that the seven best XRP handles are Ripple Escrow accounts. The same portfolio addresses contain about 32% of the total supply of the token. This explains why the Book of XRP is still criticized for being not as decentralized as other blockchain networks. On the chain Zachxbt recently described XRP owners as “starting liquidity” for outsiders.
A distinguished picture from Getty Images, chart from TradingView.com
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