Ripple's CTO doesn't believe in the company's failure
Ripple's chief executive does not believe in the company's failure following the SEC trial. David Schwartz is convinced that XRP's market cap is too big for that.
According to Schwartz, the lawsuit with the American regulator arose out of nowhere for them. He believes the SEC has no legal authority to try to take control of the cryptocurrency ecosystem. “People just want it to work,” he concluded.
Among the reasons for the rapid growth of XRP in recent years, the CTO of Ripple highlighted the re-listing of the token on one of the largest platforms Coinbase. In addition, among the positive growth factors, he highlighted the team's small legal victory in the case against the SEC and support from the crypto community.
Speaking about the prospects of his own token, the CTO of Ripple said about the similarity of XPR and the product of Stellar. Today, the latter is used in the development of several digital currencies of world central banks at once including the Ukrainian electronic hryvnia and the Bermuda dollar. But the main difference, according to Schwartz, is how people perceive Ripple and Stellar. The direction of both projects has changed a lot since their introduction on the market. CTO Ripple is convinced that the difference between projects built on XRP Ledger and projects based on Stellar will be noticeable. Despite almost identical technologies.
In 2014-2015, the Ripple company, according to Schwartz, relied mainly on the needs of the corporation in the payments they made, offering its solution. They also tried to promote XRP as a fast payment method for banks and other financial institutions, planning to provide a worthy alternative to the banking system.