Ripple CTO Comments On Rising XRP Ledger Competition From Fintechs
Ripple's CTO David Schwartz highlighted the increasing trend of payments and stablecoin companies launching their own blockchains as evidence of blockchain's significance in finance. He emphasized the XRP Ledger's (XRPL) public and permissionless design, contrasting it with permissioned networks that limit accessibility and resilience. Schwartz noted that XRPL's architecture supports financial-grade settlement with low, predictable fees, using XRP for transaction costs. He acknowledged new entrants like Circle's Arc and Stripe's Tempo, which focus on stablecoin and payment solutions, while maintaining that XRPL's governance requires supermajority validator approval for changes. Schwartz expressed optimism for XRPL's future innovations and welcomed competition in the expanding crypto landscape.
