From Garlinghouse’s perspective pretending that a single cryptocurrency is the emblem of the entire industry only hurts the ecosystem, as regulators have a hard time positioning themselves in the face of this when they are working to design much fairer regulations.
The CEO ofRipple, Brad Garlinghouse, indicated that the bickering and rivalries between the different communities in the crypto space actually work against the ecosystem, as they serve as an obstacle for the industry to achieve fair regulatory conditions to be able to operate successfully.
According to Garlinghouse, maximalists are hurting the industry
Garlinghouse’s comments came during an interview today on CNBC, where he revealed that his position as CEO of Ripple does not prevent him from actively investing in other cryptocurrencies that many consider rivals to the project he heads, so his desire is that the ecosystem as such can grow.
In this regard, Garlinghouse commented:
“I own Bitcoin, I own Ether, I own a few others. I’m an absolute believer that this industry will continue to thrive… all boats can go far.”
For Garlinghouse, the ecosystem is currently experiencing what happened when the giants of the Internet arrived decades ago, so each one focused on a different use case and that did not prevent them from getting ahead and occupy the positions they currently occupy:
“Yahoo could be successful and eBay could be successful… They’re solving different problems… there are different use cases and completely different markets and audiences. So I think a lot of those parallels exist today.”
For the executive the great evil is in the maximalists, those who believe that their preferred cryptocurrencies should be the emblems of the entire industry, as these are implying that the ecosystem is very fractured, especially when there are legislators in the U.S. who try to work to help the ecosystem from different angles:
“The lack of coordination in Washington, DC, for the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. industry… I find it shocking.”
For Garlinghouse, this is a time when there needs to be some unity and respect among the communities that make life in the ecosystem, especially in light of the fact that President Joe Biden’s administration must conduct an investigation into the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. sector to work around regulation.
DisputeRipple vs SEC
On another note, the CEO ofRipple reported during the Semana Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. held in Paris that has very good perspectives on the case against the U.S. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC), as its legal team has made significant gains gains refer to an increase in value or profit. and the dispute appears to be tilting in favor of the utility company. Blockchain.
En su momento, Garlinghouse comentó:
“The lawsuit has gone very well and much better than I could have expected when it started about 15 months ago. But the wheels of justice move slowly.”
Although Garlinghouse is particularly optimistic about the case at hand, he also says that the final verdict will be especially crucial for the digital currency ecosystem in general, as it will lay the groundwork for how U.S. regulators will approach these assets down the road:
“This case is important, not just for Ripple; it’s important for the entire cryptocurrency industry in the United States. It would be bad for cryptocurrencies in the United States to have an unfortunate outcome.”
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Version by Angel Di Matteo / DiarioBitcoin
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