Ripple CEO Explain Why XRP WILL BEAT BITCOIN In coming Days
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I know you've said in the past that you are doing for money what email did for communication do you think this is really going to take off to that extent you know we do we would look at the world you see a world completely connected on an information web and`that's terrific that next thing is tremendously efficient but what we don't have is the sense of a value web payments the exchange of value is still pre internet based on 40-year old technology and so that's very expensive that really slows eCommerce lots of parts of the world don't have the ability to make payments so this new technology that really is a second gen enables now value to be exchanged in the same way that information is currently exchanged and that's a big deal we think but do you think Chris that people are actually going to be comfortable using a kind of virtual currency I should ask you to how is what you've produced on the coin side on the digital currency side different from what bitcoins already doing so what bitcoin set out to do is really build a new currency that had no central banks so in a way bitcoin is sort of a way of storing value riffle is a completely different idea we're using that's the same breakthrough technology but we're using it to build a currency agnostic value exchange or value web so you actually don't need to adopt a new virtual currency to use Ripple you can use it with dollar euro yuan rial anything you like that you have a math based currency both in to Ripple that is like Bitcoin but it really functions as an enabler so we think most people will use ripple using their existing things of that you like dollars or Europe or yen so to what extent Chris are you seeing pushback I know one of the companies that you risk taking market share from as a company such as Western Union I mean this is a pretty regulated space to what extent are you facing headwinds like that so you're absolutely right I mean you know law enforcement regulators are right to be concerned about any new technology but we worked a lot with law enforcement we were just in DC this week for example we work with promissory Financial so we think that regulators will if you can express the potential of these to really help business and and at the same time show that they're actually more transparent systems for catching the bad guys and eliminating bad things that can have more financial systems we think that's a win-win and we think that that is the case with these new exciting technologies now I know you've done some successful fundraising andreessen horowitz is just one of your more famous backers what are you doing with the money yeah so we're using the money for ripple labs to really build a incredible team of software developers cryptographers security experts and business development folks that can bring on banks and remittance companies and really mainstream financial companies but it's important to know about 28 people now in San Francisco and growing rapidly important to note though that ripple labs is really the company that is building the software and developing it ripple Protocol is a completely open source system it's a public good anybody can use that we don't control we don't own it so they're kind of two different roles kind of like a Red Hat to Linux is a good analogy for ripple at ripple Chris before we let you go some people have critique to the lack of friendliness or the lack of ease in using the site is that something that a you agree with and B if so that you're seeking to remedy yeah yes so we've been focusing today and I'm really building the network building the fundamental architecture to make it easier for other developers to build on top of ripple ripple is really like the pipes and the foundation at the same time now we are also bringing on product people to make consumer direct products easier to use so really we're going on both those as an SDK for developers as well as a direct-to-consumer application