Ripple CEO Responds to Centralization Criticisms
Ripple CEO Brad Garlinghouse has been facing a great deal of criticisms by naysayers who believe that the XRP ledger is centralized. This week, Garlinghouse participated in an interview at Ripple’s Swell event, where he discussed the relationship between Ripple and XRP.
His position is that XRP is “fully decentralized” and he went on to accuse naysayers of fighting “holy wars” and “spreading misinformation” due to their economic interest. He also mentioned that even as Ripple’s CEO, he has no authority over the XRP ledger or the transactions and that this dynamic alone shows just how decentralized the XRP token is.
Garlinghouse also discussed the irony of designating XRP as centralized because he believes that Bitcoin is becoming more centralized and that most of the attacks on crypto target BTC. He further explained that there are three Chinese-backed miners that control the majority of the Bitcoin blockchain.
Further, the discussion went on to the concept of how XRP and Ripple are the same entity. Garlinghouse then tried to distance himself and Ripple from that concept and expressed that the community needs to understand that when Ripple’s acts negatively affect XRP, users can access the ecosystem to check for wrongdoing and bring it to everyone’s attention.
He also mentioned,
“Ripple is a centralized company investing in decentralized technology, in the same way Amazon invested in TCP/IP.”
In addition to Garlinghouse’s participation in the event, other keynote speakers included former president Bill Clinton, who had warm comments about the crypto industry and the future possibilities of blockchain technology.