In today’s world, everything has to become faster, better and cheaper. This also applies to our payment transactions. This is particularly interesting for banks that always work with different currencies, which is why Ripple is also known as “the crypto currency for banks”.
In the world of crypto currencies, XRP is often criticized. There are a few reasons for this:
XRP works too much with and for the banks. Blockchain enthusiasts, however, want to act away from the banks, independent and free of them.
The developers themselves own 55% of all XRP Coins, that means 55 billion XRP. All nodes are currently operated by Ripple itself. Only “trusted nodes” can verify transactions. But only Ripple itself determines these Trusted Nodes. Therefore they have a strong influence and this leads to a strong centrality.
The biggest problem is that crypto currency owners exchange the only true crypto currency called Bitcoin for Ripple. The banks laugh and are happy because it is an easy way to get Bitcoin. The majority of Ripple investors don’t actually know that they are exchanging digital gold for artificially created currency.
Finally, I would like to point out that banks have been trying to implement the Blockchain technology for several years. This will not work because a digital currency like Bitcoin has no owner, no authority and develops according to fate. Bitcoin is owned by the crowd, it is ours.
Bitcoin is a currency without government. Banks control the game and the government controls banks. Saifedean Ammous
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