Ripple Veteran Bob Way Talks XRP’s Route to Mass Adoption and Beating Bitcoin's Price

  • Jack Thomas
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    Bob Way, a former Ripple veteran, has shared his thoughts on the future of XRP and how it will contest with Bitcoin’s price, its race to mass adoption and just generally where crypto payments will be in the future

Ripple Veteran Bob Way Talks XRP’s Route to Mass Adoption and Beating Bitcoin's Price
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Self-declared former Ripple “Graybeard” Bob Way has shared some interesting thoughts on the crypto space, honing in on Ripple and the XRP token especially. Way looks into the mass adoption of the XRP token, how Bitcoin needs some competition and that XRP could challenge it, as well as what the future holds for crypto payments.

Way, a former NASA employee who worked at Ripple from June 2013 to May 2018, spoke with YouTube’s Alex Cobb in a new ask-me-anything discussing how the company’s start was based on the notion that someone should create a better Bitcoin.

Making the better Bitcoin

A lot of altcoins have come about because they want to be the next and the better Bitcoin. This all started with Ethereum, which sprung from Vitalik Buterin as a way to make the blockchain offer a lot more.

“And so everybody just said, you know this Bitcoin thing is really awesome. I bet we can do better. That’s all they really thought, and boy did that turn out to be controversial,” said Way.

“Absolutely everyone has a dog in the fight. If people hate XRP or hate Ripple, it’s really because they’ve invested or bet on something else. And if Ripple wins, they lose. Everybody sees it as sort of a zero-sum game.”

“As we grew at Ripple, we saw it’s less and less of a zero-sum game. And that’s what you see with Interledger Protocol and some of those other layers of technology that we’ve been invested in.”

Best use cases

Ripple has been very sure and direct with what it wants its token, the XRP, to be, but Way describes how usage in banks is one aspect of the coin that could face mass adoption.

“I have a really deep knowledge of the ‘Rippling’ part of the XRP Ledger – what you can do with all sorts of other currencies, and how you can trade them against XRP and how you can send these atomic payments around. And for me, the number one use case for XRP is letting people have their own addresses, their own personal entities, their own confusingly-called ‘accounts’,” adds Way.

“I hate to call them that – but to have your own presence on the XRP Ledger so that you can use all of those other features which includes XRP as one of the features.”

“But the things that you look at that you don’t really consider – in your wallet, you might have coupons for a store, you might have loyalty cards for going back to these places. All of those are different forms of value, and all of them belong in your wallet, even if they’re on paper.”

“But as we move to digital wallets, they all belong there too. And the goal of your agent – your wallet software – is really to minimize the cash out of your pocket. If you can spend a store coupon or some other store discount, you should spend that first before you spend your salary, or before you spend your life savings.”

“So I’m really excited about all those other things you can do in addition to what’s being done with XRP – and that’s at a consumer level. XRP as a bridge currency at a financial system level is just mind-blowing.”

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Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?

Binance Coin Price Surge Indicates Huge Support for Binance Chain Mainnet — Is This the Future?
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On a day where the markets are predominantly in the red, but only slightly, it is interesting to note that Binance Coin is surging. The exchange token is up fiver percent, but it is totally understandable as to why there is so much positivity around the company.

The biggests news, which comes off the back of its decentralized platform, Binance DEX, is that the Binance Chain mainnet has been launched and that they will be executing their Mainnet Swap on April 23rd.

This means that Binance Coin will be shifting away from Ethereum, leaving questions open as to what this means for Ethereum, which has been under the pump to stay relevant in today’s crypto and blockchain space. This move will result in a migration of $3 billion worth of BNB being moved away from the Ethereum blockchain and onto the new Binance chain.

A positive investment

All the good news emanating out of Binance has not only helped the coin to climb in price when the rest of the market settles down – it is helping it head towards a new all time high. Binance, like many altcoins, reached its ATH in January of 2018 in that parabolic stage.

Binance Coin hit $24 back then, and now, it is at $21 and rising with the thoughts being that when the mainnet move takes place, there could well be an even bigger surge. It is also interesting to note that just a few months ago, at the end of last year, it hit lows of $4.50.

Competing with Ethereum?

The mainnet move is obviously good news for Binance, as the markets are suggesting, but is it equally bad news for Ethereum, which was the holder of $3 billion thanks to the exchange. Many people have speculated that this new blockchain platform will pose competition to Ethereum, but ultimately it will help diversify Binance Coin’s use cases while also increasing its utility.

So perhaps rather than being a direct competition to ETH, it is only going to strengthen Binance Coin and in doing so perhaps spell out the future of cryptocurrencies as there is good reason to believe that this token, with its added utility and use cases, will be a viable token for the world going forward.

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