"I have never really seen" the case of using XRP as a currency

While XRP is an opposite problem for many in space, assets are arguably a powerhouse in the industry, with the third largest market capitalization of all cryptocurrencies. XRP also has an active fan base on social media platforms.

However, critics suggest that the cryptocurrency has no use cases. Tone Vays, former Wall Street merchant he says in an interview with BlockTV that the "Ripple token itself has absolutely no place", adding that everything about altcoin "is bad".

Kevin Rose, a venture capitalist who led Google Ventures' 2013 investment in Ripple, recently weighed in on this debate. in an interview with TechCrunch, hiring cynics on the project.

"I understood that this was going to be used as a way to manage the solution in one way or another," Rose said when asked what she was thinking of the original use case of XRP. Although he added that "he never really saw the case of using Ripple as a motto".

XRP sees some usefulness as a medium of exchange

Although Rose does not view XRP as a form of currency, Ripple's development platform, Xpring, indicates that the asset is used as a medium of exchange.

According to a report by Shae Wang of XpringXRP finds use as a means of transferring value between cryptocurrency exchanges.

This is similar to how Bitcoin, Ethereum and USDT from Tether are used as a bridge between platforms due to their widespread adoption and liquidity.

"As market activity increased, network congestion on Ethereum (ETH) and Bitcoin (BTC) reached unprecedented levels

—The transaction fees for the two assets exceeded 5 times the norm. (…) We have seen evidence that many users, especially Ethereum users, can go digital XRP assets for foreign exchange balance transfers, ”wrote Wang.

Their analysis indicated that each time the Ethereum transaction fees increased, there was an increase in the number of XRP transactions sent between exchange accounts. At the same time, the trading volume of the XRP / ETH pair has increased, corroborating this theory.

Many cryptography projects are "unwanted"

In the same interview as XRP mentioned in, Rose also shared the macro perspective of crypto.

He said that even though he thought "that there is no doubt that the future of money is digital", many crypto projects are falling short of vision and are in fact " spam "at the end of the day:

"So something will appear that is scalable and easy to understand and based on some sort of blockchain technology." (…) The problem is that 99% of the projects that exist and many people behind them are there only to obtain a pure financial benefit. And there is a lot of garbage there. And that's a shame because it really reduces high quality projects and confuses the space a lot. "

Photo by Ramón Salinero on Unsplash