,
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1/ @Ripple should create fiat-coins like USDC and use those for their inter-bank settlements.
xRapid would be a superior product for banks if the cryptocurrency used was a fully regulated, collateralized & price stable fiat-coin rather than the very volatile $XRP.
xRapid would be a superior product for banks if the cryptocurrency used was a fully regulated, collateralized & price stable fiat-coin rather than the very volatile $XRP.
2/ Ripple Inc could even create fiat-coins for a bunch of other currencies (JPY, EUR, GBP, MXN) all fully regulated and easy for banks to adopt. By doing this, they could evolve past their biggest barrier to adoption: XRP.
And there is nothing stopping them from doing this.
And there is nothing stopping them from doing this.
3/ Ripple Inc is not a fiduciary to XRP holders. Holding XRP does not give you *any* claim on Ripple Inc's profits or success.
Ripple Inc pivoting to a fiat-coin based strategy is in their best interest because it gives them the best chance of success.
Ripple Inc pivoting to a fiat-coin based strategy is in their best interest because it gives them the best chance of success.
4/ If Ripple Inc doesn't offer an international remittances product settled using fiat-coins then one of their many competitors will. There are many fiat-coin issuers out there: Coinbase, Circle, Gemini, Paxos, etc. who could offer this product in an attempt to gain marketshare.
5/ This is a critical decision for @bgarlinghouse. xRapid volumes are tiny & adoption is struggling despite the clear market opportunity for crypto in international bank settlements. Fiat-coin competitors are on the horizon.
And he *is* a fiduciary to Ripple Inc's shareholders.
And he *is* a fiduciary to Ripple Inc's shareholders.
