At a meeting with representatives from the International Monetary Fund and the Swiss National Bank, Ripple CEO Brad Garlinghouse voiced his criticisms of Bitcoin, highlighting its key shortcomings.
Criticism of Bitcoin
At the high-profile event, Garlinghouse described Bitcoin as a slow and costly method for conducting transactions. He remarked that today, "Bitcoin, per transaction, is rather slow and rather expensive."
Advantages of XRP
Garlinghouse emphasized that XRP was designed to address the shortcomings of Bitcoin, making it "a thousand times faster and a thousand times cheaper." He stated that XRP can greatly enhance the process of international payments by freeing banks from the need to hold funds in different countries.
Ripple's Goals
The CEO also spoke about Ripple's long-term vision: creating an "Internet of Value." He believes that XRP and blockchain technology can facilitate more efficient financial transactions, similar to how information is transferred on the internet. Additionally, he mentioned the importance of connecting "exotic" currencies to the global financial system.
In his presentation, Garlinghouse clearly established Ripple's stance on modern crypto technologies and their role in transforming financial flows. His critique of Bitcoin underscores the company's ambition to offer more efficient solutions for international payments.
