Former U.S. Treasurer: Ripple (XRP) has Utility
Rosie Rios, a currency designer and a former U.S. Treasurer, thinks XRP—unlike other cryptocurrencies like Bitcoin—has true utility. In Rosie's view, most cryptocurrencies are speculative assets. Although most act as currencies, holders rarely use them as intended.
On the other hand, Ripple Labs, the creators of XRP, rolled out a targeted solution for the obsolete, lagging cross-border sector dominated by centralized players. Ripple works closely, mainly with banks and remittance companies. Through the On-Demand Liquidity (ODL), a solution that incorporates XRP, funds can be sent anywhere in the world cheaply with a promise of instantaneous settlement. Already, the ODL has found support from more than a dozen payment providers, integrating them in their operations and realizing cost savings and more satisfied clients.
Even so, Ripple Labs has been sued by the U.S. SEC for allegedly raising funds by illegally selling investment contracts. The case is ongoing, but Ripple lawyers, per the judge's pronouncements, appear to be on top and likely to win. SEC has been blasted for rushing and being ill-prepared in the case.
It is most likely that Ripple and the SEC will settle, and XRP declared a utility just like BTC—a major boost and clarity for the currency.
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