Disrupting XRP Wouldn't Be Logical for Ripple, Company's Exec Says

Fri, 03/27/2020 - 15:07
Alex Dovbnya

Marcus Treacher says that 'not even Ripple' can control XRP

Cover image via stock.adobe.com

In a recent interview with Financial Magnates, Marcus Treacher, Ripple's SVP of Customer Success, claimed that XRP Ledger is decentralized in an apparent attempt to put all accusations about Ripple wielding way too much power over the token to rest.  reacher channeled Ripple CEO Brad Garlinghouse when he was explaining that Ripple, as the biggest stakeholder, was the most interested party in the success of XRP, which makes no sense for them to disrupt it.

"Ripple is a stakeholder of XRP thus is an interested party in its success."    

Ripple's Partnership with MoneyGram Criticized by Financial Times

Ripple stands its ground

Ripple, which controls close to 60 percent of XRP's entire supply, has been working hard to distance itself from the token. During one of his CNN interviews, Garlinghouse denied numerous damning reports that they can suppress the token's price with aggressive sales.   

Cory Johnson, Ripple's former chief market strategist, once compared XRP to oil to push the controversial narrative that the token was discovered, not created.  

Ripple’s relationship to XRP is akin Chevron’s relationship to oil. We have a lot of it, we believe it’s a superior technology and we support its many uses — for billions of reasons. But we don’t have all of it, we don’t control it and we aren’t it. — Cory Johnson (@CoryTV) October 4, 2018

Meanwhile, Ripple CTO wrote a lengthy post in which he claimed that XRP Ledger is, in fact, more decentralized than Bitcoin and Ethereum. 

Ripple’s CTO: XRP Is Becoming More Decentralized Than Bitcoin and Ethereum

Focusing on 2020 

After addressing the centralization issue right off the bat, Treacher proceeded to reveal the company's plans for 2020. Having surpassed 300 customers in 2019, expanding the RippleNet network continues to be his company's main priority. 

"In 2020, we are focused on growing RippleNet–from the number of customers who join the network to the corridors in which they operate."  

Ripple plans to open corridors to APAC and EMEA at the end of this year.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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