Ripple CTO David Schwartz has joined a heated debate after Custodia Bank CEO Caitlin Long Criticized ripple, the XRP -Ledger (XRPL) and its stablecoin rlusd in a podcast clip that was shared to X. Long in question XRP decentralization, Ripple compares the early financing of Ripple with an ICO and argued that the blockchain had no longer asked for its adoption goals between banks and other institutions. Her remarks quickly returned from the XRP Community member of the Community Vet, who denied her claims and prompted Schwartz to invite a direct, fact-related discussion for a long time.
Caitlin Long criticizes Ripple and XRP
Caitlin Long, CEO of Custodia Bank, did not hold back in her view of Ripple and XRP In a recently carried out sequence of The Podcast of the Gold Goats’ n Guns. In her comments in the podcast, Long noted that Ripple remarked the early financing model, which she described as the first of the ICOs, which permanently hindered institutional trust in XRP. She said Ripple was active longer than most blockchain projects, but did not make any significant progress in replacing traditional banking systems such as Swift.
After herThe companies Switch to the edition of RLUSD Due to its own regulated financial units, a remarkable pivot point is from relying exclusively on the XRPL as a global settlement layer. Although she recognized that the US regulation pressure in the context of the Biden administration had influenced Ripple’s operations, she claimed that the basis layer network probably does not become an international payments.
With this in mind, the US Ministry of Finance, if you finally choose a blockchain for tokenization T-Bills, most likely likely to be Choose Ethereum via Ripple Because of the maturity of the former and the better introduction.
XRP community and CTO fire back
Your comments led a detailed refutation from the prominent XRP community member Vet, who dismissed Long’s claims as wrong. As the veterinarian found, Ripple never carried out an ICO, XRP was worthless when creating, and all 100 billion tokens were created in a Genesis account. Veterinarian also defended the decentralization of the XRPL and pointed out over 1,000 knots and more than 100 independent validators, which are led by individuals and companies worldwide.
He noticed that Ethereum was started over an ICO. In addition, the veterinarian has highlighted the continued integration of XRPL into its payment products and the fact that RLUSD is issued in the main register. He cited growing corporate use cases, ongoing technical changes and the historical role of the XRPL as the first blockchain with a native decentralized exchange and tokenization skills.
After the answer from Vets, David Schwartz was Also recorded X to address Caitlin Long’s claims directly. Although He noticed that The community member had already made “some basic” available to start the factual discussion. The Ripple -CTO invited long to an open conversation about Ripple, Rlusd, The XRPl and XRP.
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