min to read

2019-09-27 19:56:03




News

Ripple vice president calls Libra project a "closed system"

RIPPLE VS LIBRA

min to read

2019-09-27 19:56:03

Ripple senior vice president Marcus Treacher says Facebook’s digital drawback is that it is a closed system.

Ripple senior vice president Marcus Treacher says Facebook’s digital drawback is that it is a closed system.

 

In an interview with CNBC, Treacher used the term 'walled garden,' which has previously been used to control technology companies such as Facebook and Apple over their software.

 

As you know, the Libra Association consortium will manage the project. It now includes, in addition to Facebook and Calibra, 26 companies, including Visa, Mastercard, PayPal and Uber. Treacher said that Ripple did not have such a structure and was not a 'walled garden.'

 

 'Yes, it's a network, but it doesn't have the parameters. It connects with all players who want to use this technology,' he said.

 

Nevertheless, he welcomed the desire of such a large company as Facebook to enter the digital currency space.

 

 Recall that the fintech startup Ripple itself was criticized for its emission policy and centralized network management. In particular, investors accused the company of manipulating the price of XRP using a token distribution management mechanism.

All rights reserved © CryptoRivista