Ripple “The Amazon”
In an article released by the Financial Times, it is discussed how Ripple’s vision for XRP has shifted from pure cross-border payments to many different forms of potential utility for the XRP ledger, one of which is micropayments via Coil. The article states that a German writer had only received around $15 in micropayments but was given $2,250 in XRP by Coil to continue writing. Brad Garlinghouse, the CEO of Ripple, responded stating that: “Amazon started out as a bookseller and just sold books. We started with the payments. In two years you will find out that Ripple is in payments like Amazon was in the books.”
The article released is titled “With $16bn in cryptocurrency, Ripple attempts a reset” and argues that Ripple, which is richer than most startups due to their XRP holdings, is struggling to find a use case and hence are trying out different methods or “reseting their strategy”. One of the arguments used was that Santander, one of the initial supporters of Ripple & XRP has backed out of the venture. Here was the CEOs response.
Brad Garlinghouse’s Response
1/ My fav skeptics are active today! (@FT @nathanielpopper) Ripple has absolutely no plans to ‘reset’ our strategy. Using XRP to solve a real-world, $10T problem, like cross-border payments, is working (1/4) https://t.co/Gkf70dq7G6
— Brad Garlinghouse (@bgarlinghouse) August 13, 2020
He then stated that he’ll let the data speak for itself and mentioned that ODL has accounted for over $2 billion in transactions using XRP and grew by 11x year-on-year and in less than 3 years they had processed over $7B+ via RippleNet.