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RE: Does newly announced official banking sector owned crypto threaten Ripple's xrp?

in #ripple7 years ago

I think you ask a fair question.

To start, I dont trust the banksters one bit. In fact, my fear is that they are able to use their almost unlimited power and vast wealth to hinder all the progress that is taking place. The deal with Ripple might seem like a good thing but is it? The banksters only operate in their best interest which means the enslaving of everyone else. If there is something that threatens their power, they will eliminate that threat.

We all know the peril that decentralization means to the existing financial structure. The fact that the banksters are starting to embrace it means they clearly see the threat. That said, do they allow it to break down their gravy train. I do not believe so.

So how do I see it? I would not be surprised to see them not only embrace blockchain but promote it. The difference is that it will not decentralized but their own. They will develop a currency that go along with it and work to have the others either in their control (read they own the vast majority) or they have them outlawed by governments who will make it illegal for the average person to hold. Isnt this what happened with gold? Notice how little is in the hands of the average person these days.

Great question and something that all need to consider as the crypto world is invaded by Wall Street.

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