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Could Ripple dilapidate Bitcoin?

Ripple once again compared its digital assets with Bitcoin.

Ripple CEO Brad Garlinghouse has just compared the company’s XRP token with Bitcoin during the World Economic Forum in Davos, Switzerland.

During a CNBC panel on the future of cryptography, Garlinghouse said it believes Bitcoin has the ability to consolidate its status as a robust warehouse of long-term value.

XPR, more scalable than BTC

But he believes that when it comes to making payments, XRP is much more scalable compared to BTC:

“If you take Bitcoin as it exists today as something static, the problems of scalability and proof of work as a model have some really significant limitations. There are many people trying to improve that. Maybe they will succeed. Maybe they do not. I’m not ready to say that Bitcoin is going to zero. I still own Bitcoin partly because, as Glen describes it, it may become a store of value. ”

He also said that in Ripple they are building on the technology called XRP because this is incredibly scalable compared to BTC, really low cost and faster.

Taking cross-border payments to a new level

The CEO of Ripple also said that the company is working hard to transform the speed and costs of cross-border payments in order to boost the current financial landscape.

He believes that cryptography and blockchain technology, in general, will forge massive financial institutions such as Citibank to face a dramatic change in their business models.

With regard to regulation, Garlinghouse believes that people are currently learning about the potential of cryptography, but there is a long way to go.

Address the lack of mass adoption

Ripple has recently addressed the lack of mass adoption of cryptography. Ripple’s regulatory relations director said they know very well that the missing ingredient that keeps Ripple at the door of general adoption is clearer by US regulators.

During Fintech Week in Washington, DC, Ryan Zagone said:

“The challenge for adoption goes back to politics. The uncertainty of the policy around some of the assets has limited adoption, particularly in the United States. “

Also published on Medium.

Published inCryptocurrencies

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