According to Ripple.com
XRP is the fastest and most scalable digital asset, enabling real-time global payments anywhere in the world.
There are people who consider that XRP is not a cryptocurrency and it's not worth investing.
It's a government or banker's coin.
This is completely against what cryptocurrency ideology(Satoshi Nakamoto's) was meant for.
It is bad news for the crypto world.
Okay!!
Maybe you are still not clear about the XRP use as it is just a way to do cross-border settlements and that's it.
There is no other use as such but steem, litecoin, bitcoin and other decentralized currencies have prominent uses and the world is recognizing it.
Bank's and governments crave control over everything and they are challenged by the cryptocurrencies as it can do the job better than them.
Governments are afraid of losing control over the economy and they will take means necessary to fight us.
Here comes Ripple offering a solution to them.
We should be happy that the banks and government are trying to compete with our decentralized currencies by using blockchain technology and not simply banning all the trades related to it. We do need them to get fiat to invest in these and also to withdraw right now.
Maybe in future, we could buy books/utilities/furniture/car and all the necessary household items and also pay taxes to the government in satoshi's. Still, we can do some of these and it shows that future holds good for the blockchain and bitcoin.
Bank's are required for the bitcoin/cryptocurrencies to grow right now.
Doomsday for cryptocurrency market right?
I am happy that banks and government are trying to fight on a level playing field and not annihilating the competition directly.
I can be wrong too.
Crypto World is too big to stop now and even if governments and banks have hidden agenda of pumping XRP's after buying it at dirt cheap and then exchanging them for bitcoins when it has increased in value so as to gain control on bitcoin markets too.
This still means they want it to grow and don't want the cryptocurrencies to die a sudden death.
Good News eh!
For Layman( People who are not familiar with Cryptocurrencies)
They are happy that money is transferred to their distant children/relatives/friends in under 3 seconds which earlier took days to go through.
Bank's are happy that they no longer need to keep a lofty sum in Nostro accounts for transaction settlements.
XRP and Ripple are helping banks compete with us and that is a good news for future of the decentralized crypto world.
If you think Bank's are going away soon you cannot be wronger!
That's why I think XRP is not our enemy as of now, maybe tomorrow.
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