Ripple’s CTO, David Schwartz took a public stand at the “Blockchain Beyond the Hype: The Ripple Effect” session at SXSW on 14 March 2019. The Chief Technical Officer of Ripple is blockchain enthusiast but at the same time a humble innovator.
According to Schwartz, “the internet was a powerful force for good in democratizing the flow of information and today control of the flow of funds” is used in the same way it was before the internet. Hence, there is a lot of space for growth in it.
He was “very optimistic with the technology,” nevertheless, accepted the fact that Ripple’s use case is currently focused only on enabling international payments.
How Is Ripple Different Than Bitcoin and SWIFT
According to Schwartz, Jed McCaleb’s idea of finding an alternative to Proof of Work (PoW) for avoiding double spent was the ‘secret sauce’ for Ripple. He envisioned establishing a new open ledger on Blockchain that would be more efficient than Bitcoin and could integrate with the existing…
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