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Ripple CTO Emphasizes XRP is Not a Security. “We Need To Get Rid of That Uncertainty,” He Says


During Thursday’s “Blockchain Beyond the Hype: The Ripple Effect” session at SXSW, Ripple CTO David Schwartz explained to the audience why the Ripple team considers XRP not a security.

According to Schwartz, it is necessary to know the history of XRP and Ripple in order to evaluate whether or not the token is a security. He told the story of how XRP was created first and then the company Ripple was built to exploit the technology surrounding the XRP ledger (solutions such as xRapid, xVia, xCurrent and the promotion of XRP).

“XRP originated when Arthur Britto, myself, Jed McCaleb, and Chris Larsen built the XRP ledger back in 2011, 2012. The original founders who built that system gifted a bunch of XRP to Ripple to have the company work and build an ecosystem around it.”

It is necessary to point out that corresponding to the famous Howey Test it would be normal that Ripple was born first, later developing the token as a financial investment instrument. That events…



Read Full Story : Ethereum World News

2019-03-16 15:45:20

Jose Antonio Lanz

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