Ripple CEO: Don't call it cryptocurrency
Ripple is anchored in both. The company has two blockchain products that enable faster cross-border payments and faster liquidity for banks, and one of these products uses XRP, a digital token. XRP increased in value more than any other cryptocurrency (32,000%) in 2017.
But Ripple CEO Brad Garlinghouse does not consider XRP, bitcoin or any of the other major tokens to be cryptocurrency.
“I don’t call this cryptocurrency,” he said. “It’s not currency. I can’t go to Starbucks or Amazon and use—and you know, somebody inevitably will be like, Well, I have one example where I bought something with a bitcoin.’ And then I usually say, ‘Well, did you do a second transaction?’ It’s not actually a currency. These are digital assets. If the asset solves a real problem for a real customer, then there’ll be value in the asset.”
Read more: finance.yahoo.com