Monday, March 1, 2021

David Schwartz Says Ripple Is Making Strategic Adjustments to Enhance XRP

The Chief Technical Officer at Ripple, David Schwartz, has recently stated that the payment startup is making “strategic adjustments”, in order to bring the benefits embedded in the technology that powers XRP to a wider range of users across the world.

The Ripple CTO revealed this while sharing his thought with a supposed crypto enthusiast that thinks that the payment firm chose to align with giant corporations rather than “common man”.

The user tweeted, “The challenge for Ripple; RippleX; XRPL Foundation… is to enable the common man to avoid getting shafted by the ‘system’. I see little progress in this regard. The SWIFT SDK is exceedingly limited. There are more than 200 open issues in Github for RippleD.”

Read Also: World’s Best Sonic Player Starts to Receive His Salary in XRP

In response to the user’s assertion, Schwartz pointed out that the system that powers XRP is designed to be transparent and open to everyone. Adding that it cannot be solely controlled by any establishment. However, he made it clear that things are still not as perfect as expected.

David Schwartz wrote:

“We’re mostly working from the other direction – getting enterprises and institutions to use (indirectly, usually) systems that are open to everyone and can’t be controlled by anyone. That will add more value to those open systems, driving more people to them.

But this has yielded results more slowly than we had hoped. Hence, the strategic adjustments with things like Xpring and RippleX. We are trying to do more.”

He further stated that Ripple will always oppose whoever opposes blockchain technology or private institutions with financial solutions:

“We are not aligned with anyone who wants to outlaw any blockchains or private financial solutions. Quite the reverse, we believe that Ripple, the XRP Ledger, and other blockchain projects need to be part of a robust and healthy ecosystem to succeed.”

Read Also: David Schwartz: XRP Should Serve As a Universal Settlement Asset for CBDCs

Ripple Is Not Opposing Bitcoin (BTC)

In the thread of tweets, David Schwartz opined that a crypto or blockchain project cannot succeed by pulling others down, which implies that Ripple is not opposing Bitcoin (BTC).

Ripple CTO tweeted: “We all love Bitcoin. We ‘go after it’ only for two reasons. One is to fairly level set comparisons with XRPL features and technology and the other is where there’s regulatory favoritism.

“I don’t believe any cryptocurrency or blockchain project can succeed by tearing others down. Just as Internet companies need a healthy Internet ecosystem with lots of successful players, so do blockchain companies.”

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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