Ripple’s Cory Johnson Explains the XRP and Ripple Difference, Compares XRP Coin to Bitcoin 2.0
Ripple’s Corry Johnson Explains the Difference Between XRP and Ripple, Also Compares XRP’s Technology to Bitcoin 2.0
The Chief Market Strategist of Ripple, Corry Johnson, was featured in a recent podcast by Fintech Focus, where he discussed about blockchain technologies. He Explained the difference between XRP and Ripple, stating that Ripple is an enterprise software, whereas XRP is its native currency, which can exist even without Ripple.
Corry also compared Ripple’s Technology to that of Bitcoin 2.0, acknowledging that both are similar, but went ahead to market Ripple’s claiming that it’s faster and doesn’t require a lot of power.
Speaking about the technology in general, Corry Johnson said that:
“It is insane in this era of technology when I can send a text message to a friend in Rome with emojis and a GIF attached to it, or I can send an email to a friend in Cape Town, South Africa in three seconds with an Excel spreadsheet attached with all kinds of information. But I can’t send anything of value. I can’t send value or money when anything less than five or 600 basis points of costs and will take me three to five days. That’s crazy, and that doesn’t reflect the best of technology.”
Difference Between XRP and Ripple
Johnson also talked about the difference between Ripple as a platform and XRP as its native cryptocurrency. He explained that Ripple is basically an enterprise software firm that specializes in developing software, selling it to financial institutions such as banks.
To drive the point home, Johnson compared Ripple and XRP to Exxon, an oil and gas corporation, and oil. He stated that, whereas both are usually related, they are completely different entities. He further noted that:
“XRP exists completely separate of Ripple. XRP was created, all the work to create XRP started before Ripple was a twinkle in anyone’s eye… Some of these software solutions use XRP, just as ExxonMobil does lots of things, and some of their work is discovering and exploiting the use of oil”
XRP to Exist Even Without Ripple
The company’s Chief Market Strategist also noted that not all its products/software require the use of XRP as a cryptocurrency to function, but they are working to see how they can solve this, considering that the platform is all about moving money across borders.
Concluding the discussion, Corry clearly stated that XRP would still exist even in the absence of Ripple, further noting that many companies are using the cryptocurrency.