Former US treasurer Rosa Rios, who joined Ripple Labs' board of directors in May this year, is convinced that Ripple and its proprietary digital currency, XRP, is a practical way to introduce tokens to the mainstream, unlike Bitcoin (BTC).
Rios explained that with China cracking down on other currencies, such as Bitcoin BTC, more people will come to realize that the currency is purely speculative.
“XRP's primary purpose is facilitating cross border payments while other cryptos find their value in speculation. China’s latest move brings this point home”, Rios wrote.
She said she was confident of the growing role blockchain and cryptocurrencies will play in the global financial systems and added that Ripple is on the right course as one of the best cryptocurrencies to facilitate payments.
Yet, Rios remained cognizant of the fact that there were areas of digital currencies that were still “behind a curtain”. She acknowledged the use of such cryptocurrencies to fund dark web and illicit operations and said more work needed to be done to ensure that crypto is completely safe and only used as a means of legitimate payments.
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