1 Level
1 Review
4 Karma
Review on XRP by Thomas Krooshof
Ripple attracts a lot of FUD within the crypto-community, as evident by above…
Ripple attracts a lot of FUD within the crypto-community, as evident by above reviews and comments on Reddit, Steemit etc. I fully understand these viewpoints. On the other hand, IMHO, in the foreseeable future transferring big amounts of money between organisations will always need a middleman that can be trusted. In the banking context Ripple is a decentralized as possible.
Furthermore, i can see a future where consumers will have many alternatives on where they will store their money and receive their paychecks. I do not see why Ripple would have any effect on the control of banks (and governments) over consumers. It is intended to make global payments between big organisations more efficient and cheaper. If it succeeds then actors who invest in XRP can make a bit of profit out of these transactions, however small they might be. Win win.
FYI, i couldn't care less if XRP price goes up or down as i have a diversified portfolio and Ripple is just a small part of it. It just rubs me in the wrong way when i see what i believe to be unjustified FUD spreading around.
Pros
- Very fast and efficient protocol used for settling global payments with a "long" track record. Many partnerships including top ten banks. Mid- to longterm strategy is to persuade banks that use Ripple for settlements to also use XRapid protocol which in turn uses XRP as liquidity token instead of USD. Used as a settlement layer for arbitrage projects like Rialto which will eventually leads to a more mature and less volatile crypto market.
Cons
- XRapid is only used by one bank at the time of writing. Ripple attracts a lot of FUD within the crypto community because it works with the banks instead of trying to make them obsolete. Ripple success is very dependent on adoption by banks and banks tend to be risk averse.
