Top Headline for Ripple XRP, December 24, 2019
Jeffrey Tucker, an Austrian school advocate claimed that he is sure that Ripple’s native token XRP is a vital technology that could change the world for better. Tucker is an American economist who works as the editorial director at the American Institute for Economic Research (AIES), stated that Ripple’s XRP is a “brilliant technology” during the just concluded episode of “Boom Bust” on Russia Today.
Tucker expatiated that Ripple’s swift rise to the top had been boosted by deteriorating conventional financial systems in the likes of SWIFT. “I think that it’s an extremely important technology that is thriving because it’s thriving off the failures of this antique SWIFT system,” Tucker stated.
XRP (XRP) Price Today – XRP / USD
Tucker declared that XRP could change the world for better even though according to him many “man-on-the-street” investors are turning blind eyes to the technology. Ripple, according to Tucker, is doing what conventional financial systems have failed to do. That is providing swift money transfers in the age of flourishing globalization. Also, he stated that XRP is more valued in its consistency than as a means of carrying out cross-border payments.
Ripple Thriving on Failed SWIFT System
Given that XRP has decreased by more than 56% this year, it might sound weird to have both “XRP and Stability” in the same sentence. Still, Brad Garlinghouse, Ripple’s CEO stated that XRP was less unstable than SWIFT since its transactions are also instantaneous.
Commenting on the pending class-action lawsuit against Ripple over illegal sales of XRP tokens. Tucker outrightly opposed classifying XRP as security. He stated that Federal security laws in the U.S did not relate to such radical technologies.
He went thus: “What we are trying to do is reclassify these super-modern 21st-century technologies and old 20th-century categories. It doesn’t make any sense.” He further stated that the only reason why the SEC kept meddling in the issue is to keep regulations and save the bureaucrats.
Tucker also commented on the world-changing possibility possessed by the technology behind Ripple and its native token XRP. He also talked about the competition between Ripple and SWIFT in terms of importance in cross-border money transfer.
He made mention of the fact that investors are not inspired enough to completely trust the token does not mean it is not going to change the world sometime in the future. The basis for his argument is that XRP is already thriving off the failure of the SWIFT system.
He stated: “That does not mean it’s not going to change the world. I think it’s an extremely important technology because it’s thriving off the failures of this antique SWIFT system.”