Chris Larsen, CEO of Ripple, spoke at the Los Angeles Blockchain Summit about the possible exit of Ripple from the United States, which we talked about in a previous article on the Arab Bitcon website, and he also talked about the cold war between China and the United States about future financial technologies. .
"Larsen", the founding partner of Ripple, touched on the price of XRP and the "ODL", and "Larsen" also expressed his opinion that investors should not expect that the "ODL" will affect the price of the XRP currency.
He added in his speech that the value of the XRP coin is closely related to Bitcoin and Ethereum, rather than being linked to services such as the "ODL" of Ripple.
And as a quote from what “Larsen” said the following:
"If you look at XRP, the decentralized digital currency, most of what happens in this ecosystem is really related to Bitcoin and Ethereum.
Suppose that trading equals $ 100 billion annually.
The vast majority of it is related to what is happening in the market as a whole, and is driven by all the things that move Bitcoin and Ethereum.
Is ripple a store of value? Is it perhaps just keeping it as something we value and anticipate in a digital globalized future? Is it speculation? All of this is happening in its economic reality that is completely separate from what Ripple is focusing on."
Larsen explained that Ripple continues to make really big progress and is positioning itself as providing blockchain solutions to enterprises through a host of different services that serve this purpose.
Ripple already has 100 million customers who use its services in addition to taking advantage of the Ripple app "bKash" which provides more than 135 million wallets for people in Bangladesh who do not have bank accounts.
Larsen commented on this by saying:
"It is the financial institutions that bring in these vast amounts of clients and bring in all the other infrastructure that does not change here, from trusteeship relationships, security relationships, and anti-money laundering.
So we think this is a good technique to quickly deal with these really large networks."
"Larsen" was asked whether Ripple would consider working as a consultant to central banks, and whether that would open the company to more accusations of being in control of the XRP coin.
Larsen did not see a problem with this and explained that ODL is only a small part of the XRP market and that the company wants to work with a central bank.
In this regard, Larsen also referred to the good relations with the Bank of England, which is known to have carried out proof-of-concept experiments with Ripple in 2017, as well as with the US Federal Reserve and institutions in Japan and Singapore.
According to "Larsen", decentralized currencies, such as XRP, are a bridge between political and central digital currencies. He stated in this regard:
“Looking at ODL, over the past two years, it was worth about $ 2 billion, so it represents a small fraction of the overall experience that is happening in those markets.
So I think Ripple is just looking at how you could get a niche product / market.
If there is a product / market that matches a central bank that wants to explore cryptocurrencies, we'll definitely share that.
It's just a different thing, but we think it's something valuable.
We believe every central bank should have discussions about digital currency. "