48 years David Schwartz, popularly referred to as the trillion-dollar man and wizard of Ripple has claimed that banks do no want a token controlled by banks.
The Chief Technology officer and Co-founder of Ripple and digital asset XRP said this while replying to some comment under the Co-founder and CEO of Coinbase Brian Armstrong’s statements on Bitcoin.
One Twitter account by the name XR Banana said: “I have a few words to say also, start listening to what coins your customers want on your exchange please. You still haven’t listed the most requested coin ever. Isn’t it time someone stepped forward and provided and explanation as to why you won’t list XRP.”
Another by the name Kane EM, replied saying, “This is why: “The company is developing a solution that allows cross-border money transactions between banks” and xrp keeps pushing it to banking system.. let me point it out for ones whos in a tank..: “BANKS”.. Crypto curency idea is to get away from it, not to work for it.”
The co-creator of the third-most-valuable digital currency XRP who is said to be on a mission to disrupt SWIFT, in reply to the statement that inferred cryptocurrency idea needs to get away from banks, pointed:
“Banks are where the value is today. We need bridges to where today’s value is if we’re going to get mass adoption. The Internet got most of its early growth from the military and existing centralized information services for much the same reason.”
Another Ripple’s XRP antagonist Chester Copperpot suggested that David Schwartz should have allowed banks to mine Ripplecoin.
“You should have let the banks mine ripplecoin if you wanted a bridge. Seems you just wanted to print your own company scrip at the expense of bag holders while you get filthy rich. Have you not learned anything about a society who prints “money” from thin air?”
In reply to the suggestion, David said: “Not even banks want a token controlled by banks.”
Banks are where the value is today. We need bridges to where today's value is if we're going to get mass adoption. The Internet got most of its early growth from the military and existing centralized information services for much the same reason.
— David Schwartz (@JoelKatz) January 3, 2019