Brad Garlinghaus, CEO of Ripple, spoke about the potential of cryptocurrencies to improve the global economy at the World Economic Forum in Davos, Switzerland. Garlinghaus noted that the blockchain technology is very poor in cultural development. He stressed that some situations, as a rule, are heavily covered by the media, and create a poor understanding of cryptography in general.
“I think that many people who hear the word“ crypto ”associate it immediately with any illegal activity. We need to improve this view using cryptocurrency for real benefit, which is essentially useful for governments and banks and can be used in many other areas. ”
Brad Garlinghaus: a lot in XRP … and a bit in bitcoins
Brad did not miss the opportunity to talk about Bitcoin, noting that because of his characteristics it is very likely that in the future he will be considered digital gold instead of real currency.
Comparing Bitcoin with XRP, Ripple CEO is confident that XRP technology is better than Bitcoin in terms of scalability and cost; He also acknowledged that he had invested some of the funds in Bitcoin, and denied that BTC was worth nothing:
“If we talk about Bitcoin in the form in which it exists today, it has some limitations in the form of problems with scalability and Proof-of-Work. A lot of people are trying to improve it and maybe it will be successful. Or maybe not. I'm not ready to say that Bitcoin is worth nothing. I still own Bitcoin, partly because Bitcoin has every chance of becoming digital gold.
However, in Ripple, we use XRP technology because it is extremely scalable compared to Bitcoin. Ripple works many times cheaper and faster than it. ”