Ripple and Stellar co-founder Jed McCaleb stated that the key to the future success of cryptocurrencies and the underlying technology, Blockchain, is decentralization.
“If decentralization goes away, we have SWIFT and PayPal. One thing remains.”
As a guest on CNBC’s Fast Money program, McCaleb said that the only decentralized network that has seen success so far is the internet. In an open critique of the payment protocol Ripple, which he co-founded in 2013, the famous programmer said that a centralized financial payment system in the cryptocurrency industry would be nothing more than SWIFT or PayPal, and continued his words as follows:
The main vision is to have a network that anyone can join, like the internet. This is the most important thing to make these things successful.
McCaleb, Snowden, and Dorsey…
Earlier this week, McCaleb introduced Blockchain-powered universal payment While explaining his vision for the network, he stated that he thinks all equity will be simulated by 2028.
The MtGox founder is not the only high-profile person to make public comments on crypto and blockchain this week. On March 22, Edward Snowden talked about the flaws of the Bitcoin Blockchain and its public ledger during an interview.
Earlier this week, this time Twitter and Square CEO Jack Dorsey talked about the future of Bitcoin. He spoke of his ideas. Dorsey claimed that in the future Bitcoin will be the only currency.
cointelegraph