Litecoin Foundation’s Franklyn Richards Says LTC Doesn’t Need Bitcoin (BTC) To Stand Tall
Franklyn Richards, director of Litecoin Foundation spoke to Tokenbox about a variety of topics, including, How does the foundation relate to the Litecoin core, why Charlie Lee doesn’t code anymore, and why putting healthcare and supply chains on blockchain is useless?
— Franklyn [₿+Ł] 🇬🇧 (@FranklynCrypto) December 12, 2018
When asked about the comparison to BTC he said that if bitcoin is gold, Litecoin is silver. As the prices of silver are directly proportional to gold most of the time, same is the case with litecoin. Although by itself, Litecoin still stands tall and holds ground.
“… it has tens of thousands of transactions are being made across network daily and hundreds of millions of dollars are being moved across network daily. It’s fantastic as a form of money because it serves and does these few things very well. It doesn’t attempt to go out its way and do smart contracts built directly into a thing like Ethereum does because we can see how that can lead to disaster.”
On the global aspirations of the token, Richards added:
“… and in many ways to already is it’s like say, doing so many trades and transactions all over, well daily, people understand how powerful is technology is and for adopting it. There’s only a handful of cryptocurrencies which are listed on every single major exchange out there and those three are Bitcoin Litecoin and Ethereum, out of those two are sound money Bitcoin and Litecoin.”
Richards went on to say that his foundation got very rich in the early days of Bitcoin when people were spending it recklessly and donated to the foundation just for the fun of it. He stated:
“… of course then they bought in Bruce Fenton who became the executive of the Bitcoin foundation he ordered state and cleaned it up a lot but it hasn’t really been able to recover its name or its standing it had.”