Australian computer scientist and self-proclaimed Satoshi Nakamoto, Craig Wright, criticized Ripple, highlighting the shortcomings of their system.

Criticism from Self-Proclaimed Satoshi

Craig Wright questioned the legacy of Ripple, claiming that their cross-border payment system is significantly slower than SWIFT, a popular global banking communication network. Wright believes that Ripple has failed to contribute substantially to the future of commerce and technology, questioning the company's legacy.

Speculations Around XRP

Craig Wright also criticized Ripple-associated token XRP, labeling it as a "speculative construct." He stated that the world's seventh-largest cryptocurrency lacks real value and is not a genuine advancement, instead attracting those seeking quick, unearned profits.

Ripple's Potential and CTO's Stance

Ripple's CTO David Schwartz admitted that the company's revenue from XRP sales might have led to suboptimal decisions. He noted that the company did not participate in ICOs or meme coin markets because it did not need the funds. However, he believes that such moves could have been profitable for Ripple.

The criticism of Ripple highlights the challenges faced by the company and the need to reassess its strategy to achieve sustainable growth and make a meaningful contribution to the industry.