In a recent interview with David Schwartz, CTO at Ripple, lot of things were discussed by Thinking Crypto – You Tube Channel and Podcast. They discussed – XRP Ledger Federated Sidechains – SEC Ripple Lawsuit – Polysign Cowen – Bitcoin Mining Energy Concerns – El Salvador BTC Adoption.
David Schwartz in the interview stated: Money could be created by a friend who is trying to do a favor to another friend.
The vision for XRP he stated: If you want to make some asset liquid, you make it liquid through XRP. Then it is liquid to everything else. I think that is sort of the vision. It is still based around payments since a while. It can happen with NFTs, it can happen with DeFi. We don’t want to degrade that end vision. The only thing is that there is a lot of evidence.
I had to say to be fair on the objective, that there is a lot of evidence about being the best with the payment. Are people really using the XRP ledger? The trick is to understand about the obstacles that are getting in the way of adopting it for that purpose.
Appreciation: DeFi platforms are real, Bitcoin is cool but not really, Russia has banks too, crypto’s are here to stay. Buy more XRP.
It was like watching the internet creators, app creators, social media creators speak for the 1st time about their ideas & projects.
Sincere enthusiasm about the future of all crypto and the untold stories that future development will bring.
Enjoyed: Bitcoin is relying on the greater fool theory to make the price of it go up. Without a greater fool the pyramid fails. Waiting for that LOL.
Criticism: The more and more I hear Joel Katz speak, the more I think they are building everything possible. While XRP isn’t used at scale, it’s going to get a lot harder once it is used at a mass scale.
He said he wishes people used it more for money transfer when speaking about setting up preapproved loans for friends. The problem is the price volatility. $100 of XRP today could be worth $1,000 next month. That utility is best served by stable coins.
Questions: Are the proposed side chains good for the price of XRP? With side chains, would there still be a need for private XRPLs with XRP as the bridge?
Left thinking: your discussion on social credits got my mind spinning. A type of system for mortgages where one could borrow $1 from 100k people for a mortgage, whereby each person’s exposure would be $1. I’m not a developer, but wondering if possible?
