Ripple (XRP) – Security Controversy is Not Its Biggest Issue
Ripple (XRP) is the world’s third-largest cryptocurrency and despite this, some analysts still believe that Ripple (XRP) is a security. Although, Brad Garlinghouse (CEO) and his team are doing their best to prove to everyone that Ripple (XRP) is not a security and that the cryptocurrency token doesn’t have anything to do with Ripple, the company.
On the other hand, the security controversy is not the only threat that Ripple (XRP) is faced with. The biggest issue that Brad Garlinghouse and his team needs to take care of is regulation. The one thing all cryptocurrencies have in common is the fact that they are not regulated, something which Ripple (XRP) is believed to lack.
Ripple (XRP) Senior Vice President Speaks Out
“We are going around the world making sure that for the next 1000 customers that we want to bring on, which we think we can do in the next two years, that regulation is not going to be an issue,” stated Asheesh Brila who is the Senior Vice President of product at Ripple.
“I think it’s really clear that XRP is not a security. XRP exists independently of Ripple, and it would operate even if Ripple Labs failed. I don’t think that our ownership of XRP gives us control. Saudi Arabia owns a lot of oil; that doesn’t give them control of oil,” said Brad Garlinghouse.
Is Ripple (XRP) a Security?
The only real issue that Brad Garlinghouse needs to take care of is separating the Ripple company from the XRP token. This is going to be a difficult task because the two have been associated ever since the XRP token was launched and there are thousand of reports, pictures and marketing campaigns that put Ripple and XRP together.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.