According to American economic analyst and Bitcoin fan Jeffry Tucker, Ripple and XRP may change the world, but XRP is not necessarily suitable for a retail investor.
During the Boom-Bust program on RT Tucker said that Ripple with XRP can “close all the drawbacks” of the international payment system SWIFT. However, to be more successful, XRP needs to attract more retail investors.
“We need to remember that XRP is a specific type of cryptographic currency. This is not the cryptovolta that was dreamed of in 2009, when bitcoin appeared. It’s an excellent intermediary technology. And it is proprietary, so many cryptographic fans do not consider investing in XRP. But that doesn’t mean it can’t change the world.
I think it’s an extremely important technology because it solves all the problems of an outdated SWIFT system. Our traditional financial systems will not keep up with the new era of globalization. Kryptovalut can take this niche and solve all the problems. And XRP is perfect for it. But not as a token and investment tool,” stressed Tucker.
The economist also noted that XRP absolutely should not be equated with securities. In general, according to Tucker, it is time for regulators to get used to developing technologies and stop using old rules to regulate the new reality.
“There is a problem here. These old categories are not suitable for new technologies – they, it turns out, describes the ownership rights to the protocol. And this is not the same as security. And we’re trying to classify 21st-century technologies in terms of 20th century. It doesn’t make any sense.
So why are we doing this? Just to keep the regulators, the law, the bureaucrats, so they can control something. But this is all bullshit. Cryptocurrencies aren’t securities, they’re something completely new. Eventually, Washington bureaucrats will understand and accept the fact that we live in a progressive world, what new things are being invented.
We’ve already realized that there’s anonymous money. And the payment systems that use it. You couldn’t have imagined that 15 years ago. We need politicians and bureaucrats to understand that a new era has come. And it came in January 2009, when Bitcoin appeared,” the economic analyst said.
A study by Deutsche Bank, published in early December, suggests that cryptocurrencies can replace fiat currencies by 2030.