- Jeffrey Tucker, a longtime Bitcoin bull recently gave out his thoughts on XRP in an interview with RT’s Boom Bust.
- Tucker also commented on the regulation of the third-largest cryptocurrency by market cap expressing his belief of classifying XRP.
- XRP is not secure and all they have been trying to reclassify modern 21st-century technologies in old 20th-century categories which are of no use.
Jeffrey Tucker, a longtime Bitcoin bull recently gave out his thoughts on XRP in an interview with RT’s Boom Bust. The editorial director of the American Institute of Economic Research expressed his belief that XRP might revolutionise the world. Tucker continued to say that Ripple and XRP are poised to eliminate the failures of global payment messaging system Swift.
Tucker also questioned about the struggle which XRP had to face this year to which he responded that XRP would flourish if more retail investors came on board, something which did not happen this year.
He said that one has to remember that XRP was a specific kind of crypto. Something which would have been a dream in 2009 when crypto first introduced to the world. It is a proprietary technology which will come out as brilliant once it starts getting adopted in the world.
He continued saying this technology might not be looked upon by a regular man as something essential, but that doesn’t mean it cannot change the world. He sees it as a necessary technology since it has been eliminating the shortcomings of the old Swift system.
Their legacy financial systems are incapable of handling the coming age of globalisation and thus its taking crypto to fill this market niche to make good things happen. XRP has been of great importance in that sense. However, he finds it more valuable in its stability as a token rather than as a medium for payment systems across the nations.
Tucker also commented on the regulation of the third-largest cryptocurrency by market cap expressing his belief of classifying XRP as a security would be wrong. He has been urging policymakers to adapt to the new payment technologies instead of resorting to the old ones.
These old technologies do not pertain to the new ones making it ownership over the rights to a protocol. XRP is not secure and all they have been trying to reclassify modern 21st-century technologies in old 20th-century categories which are of no use.
All this is being done just for the sake of saving regulations, regulators and bureaucrats so they can control it but all of this sounds pointless. The sole reason for the delay in these decisions is that they are not traditional services and something new and different. So, the only solution to this that Washington bureaucracies are going to adapt to living in a progressing world where new kinds of things emerge. That is the only solution.
Ever since new technology has introduced to us, we taught that private money was possible, the idea of payment systems and funds being wedded together into the same technology emerged. All of this would have been a dream 15 years ago or maybe someone would have laughed off at this idea if you talked about it back then.
So we are in a dire need to make the politicians and bureaucrats realise that new reality had dawned upon the world in January 2009 with the introduction of Bitcoin and ever since then, it had been developing more and more and should be adopted by us for our benefit and betterment.