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Ripple CTO Owns Bitcoin, Admits to XRP Limitations

1 min
Updated by Adam James

In Brief

  • David Schwartz Believes in Collaboration over Competition
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Ripple — creators of a real-time gross settlement system, currency exchange and remittance network primarily aimed at connecting banks, payment providers, digital asset exchanges and corporates — has acknowledged that its digital asset, XRP, is not the be-all-end-all in the cryptocurrency marketplace.
David Schwartz, chief technology officer at Ripple, was asked about the limitations facing the XRP Ledger in a TNW Answers session earlier this week, where he surprisingly was not afraid to admit that XRP is not the ultimate blockchain-based solution. XRP

‘We’re All In This Together’

Schwartz himself is actually invested in Bitcoin, he explained during the TNW Answers session — and thinks that the collaboration between cryptocurrency projects may be more beneficial than competing for dominance in the marketplace. Ethereum XRP Bitcoin

A Steady Decline

XRP, like many other major market players, has had a rough 2018. After reaching all-time highs of roughly $3.81 per coin in the first week of January, the third-ranked cryptocurrency has steadily declined. XRP At the time of this writing, XRP is trading at $0.33 per coin. What do you think about Ripple CTO David Schwartz’s statements regarding the limitations of the XRP Ledger? Do you think the value of XRP will ever reach its previous highs? Let us know your thoughts in the comments below! 
Image courtesy of Shutterstock, CoinMarketCap.


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