Ripple Chief Technology Officer Gives Replies for Lack of Adoption

News • 2020/11/04 • by

The crypto space has long expected that financial institutions would adopt XRP.

However, it seems like the opposite in reality, and the Chief Technology Officer, David Schwartz, took to Twitter to address the issue.

Major Updates:

David stated that XRP is going through a rough time, preventing banks from using XRP for international transactions.
Last-mile challenges and regulation issues are some of the reasons for the lack of adoption.
Another reason for the hesitation in adopting XRP on a broader scale is that the currency is new and would require time to get the right momentum.

The currency is going through a hard time indeed as it has witnessed a dip of over 90% from ATH and a fall of about 18.6% on the year. Also, PayPal refused to put XRP in the list of crypto it would offer. XRP investors aren't the only party affected. According to reports, David sold about 40,000 ETH at $1 each in 2012.

What do you think about the lack of adoption of XRP? Let's discuss in the comment section

Source: Cointelegraph

Comments (5)

Guest

godgrace1

6 years ago

Ripple's supply is very much, 100,000,000,000 XRP billion and it's not mineable, applying the law of supply and demand you can see because of its vast quantity that is why it's not being adopted, because for years to come , there will not be any scarcity for ripple.

visiblemoney

6 years ago

The same thing goes for other crypto assets. The world does not trust them enough to adopt them yet! The common grounds for their cynical adoption is volatility issues. The banks and large enterprise would adopt XRP when it become stable...I think XRP should introduce wrapped XRP in Ether and or r blockchain protocols that can give it face lifts and attraction it needs before inventors.