Crypto at a glance Ripple CEO Bitcoin Controlled By China

Crypto at a glance Ripple CEO Bitcoin Controlled By China

June 14, 2018 0 By FandomFare

Crypto at a glance Ripple CEO Bitcoin Controlled By China

 

  • Ripple CEO Brad Garlinghouse, the chief executive officer of cryptocurrency and payments start-up Ripple, claimed that  Bitcoin is really controlled by China, according to financial news outlet TheStreet.com.
  • He also said that blockchain, the underlying technology behind bitcoin and Ripple, will not disrupt banks, though it will play an important role in the way the system works. It’s a short-sighted view,.

Ripple CEO

Crypto at a glance Ripple CEO Bitcoin Controlled By China

Garlinghouse also shared his opinion about BTC’s and XRP’s underlying technology, blockchain, arguing that it “will not disrupt banks,” though “it will play an important role in the way our system works,” however “it’s a short-sighted view.”

Speaking about Ripple’s XRP, he described it as “the best digital asset for settlement.” Garlinghouse said that “Bitcoin today takes 45 minutes to settle a transaction,” whereas XRP takes four seconds to settle, he claimed.

In February, trading platform BitMex released a report on Ripple and the XRP token, discovering that the structure of Ripple’s consensus protocol suggests a more centralized structure to their currency.