Saturday, August 24, 2019

Ripple Discloses They Are In Talks With President Trump’s Led Administration

Ripple has made a significant surge in the cryptocurrency market of recent, Cory Johnson, the Chief market strategist of Ripple stated that Ripple is in discussion with president Donald Trump’s administration while discussing the rigors of his new role in a recent interview.

Ripple’s Discussion with President Trump and SEC’s View

Cory Johnson is one of many who switched from another sector into cryptocurrency and blockchain space. The chief marketing strategist of Ripple has had stints with CNBC and Bloomberg before his newly found love with cryptocurrency and the blockchain sector.

In his interview with the breaker, he discussed the sentiment of the public about the XRP, related to the mining and the perception of centralization. Cory noted that people said that Ripple is centralized because of the Ripple’s team controls the XRP validator. However, he stated that Ripple does not control the validators, as there are 150 validators and the team controls ten. And the notion of centralization based on holding a large share of the digital currency, he noted that the firm owns 60% of the cryptocurrency while 40% is out and in use by Ripple users.

Further, when his opinion was sought on the thought of the trump’s administration on Ripple, he noted that the organization had meetings with the government and other legislative regulators. Also, he stated that the government has an open-mindedness and preparedness towards Ripple, and is more drawn toward the project because of its lack of proof-of-work protocol and mining. Meanwhile, he noted that the government is more concerned with the majority of Bitcoin and Ethereum being mined in China.

Related Article:  Japan’s Largest Bank MUFG to Use Ripple for Payments Accross Brazil

The details of government interaction with Ripple were not noted. However, Cory stated that Ripple has been in regular talks with Washington and has a team that is not only devoted to Ripple’s cause only in the US but also to in the world.

Also, when his opinion was sought on the thought of SEC about Ripple, he stated that he does not know if SEC wants to be in the position to make a comment on every cryptocurrency or digital asset created and issue a ruling on it.

Ripple’s Growth and Attraction

Ripple has seen a growth of recent due to its partnership with top banks in India, middle east, and the US. Coupled with the recent launch of xRapid and the invitation of Bill Clinton as a keynote speaker at the Swell Conference, the crypto potential for more development is very vivid.

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