Ripple CTO Answers Key Question About Bank Partnerships
Main Idea
Ripple CTO David Schwartz explains the reasons behind the low on-chain volume on the XRP Ledger (XRPL) despite numerous bank partnerships, addressing questions about BlackRock's potential use of XRPL and the necessity of bridge currencies.
Key Points
1. David Schwartz cites various reasons for low on-chain volume on XRPL, including institutional preferences and operational challenges.
2. Schwartz mentions that Ripple itself struggles to use the XRP DEX due to issues with preventing bad actors from providing liquidity, suggesting permissioned domains as a solution.
3. Regarding BlackRock's potential use of XRPL, Schwartz compares it to Circle's approach with USDC, noting that BlackRock would not limit tokenized assets to a single blockchain.
4. Schwartz discusses the necessity of bridge currencies in a multi-stablecoin world, emphasizing their continued relevance despite the presence of multiple stablecoins.
Description
Ripple CTO David Schwartz has explained why the XRPL's volume is underwhelming despite a slew of bank partnerships
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