Blockchain Needs Decentralization To Gain Success: This Is According To Co-founder Of Ripple, Stellar

It’s According to CNBC Report

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Jed McCaleb who is the co-founder of XRP (Ripple) and XLM (Stellar) and also the creator and founder of the infamous Mt Gox cryptocurrency exchange have made claims that cryptocurrencies an also the underlying technology which makes it, Blockchain, should continue being decentralized in order to ensure that it is successful in the future. This is according to a report by the CNBC which was reported on March 23.

In accordance with an interview on CNBC’s Fast Money, McCaleb made major claims in an announcement that he had witnessed another successful decentralized network and this is the internet. However, in an open discussion and critique about ripple (payment protocol he himself co-founded in 2013 but has since left), McCaleb announced that the adoption of the centralized financial payment protocol in the cryptocurrencies would then lead to a system of payment which is no better than PayPal or rather swift.

He then continues on the comparison between Blockchain and the internet in this statement;

“The real vision is that you have a network, much like the internet, that anyone can participate in […] that’s the key thing to make these things successful.”

McCaleb during a speech earlier this week makes explanations for the vision he sees in Blockchain powered “universal payments network,” and also noted that all equity might be tokenized by the time it reaches 2028.

However, McCaleb has not been the only high ranked person to make these comments in regard to Blockchain and crypto this week. On 22 March, Edward Snowden made an expression of his concerns while in an interview that BTC (Bitcoin) was devastating the public. He further called the BTCs public ledger the long-lasting flaw.

However, earlier in this month on 21st March, Jack Dorsey who is the CEO of public service square and twitter made claims to the mainstream media that he viewed a future currency which emerges from the internet and the world and added: “I personally believe that it will be Bitcoin.”

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