In a recent interview with Yahoo Finance, Cory Johnson, Chief Market Strategist for Ripple
has discussed why there is such a ‘religious style’ culture surrounding Ripple and Ripple XRP.
The essence of it is simple, Johnson believes that Ripple XRP is not a cryptocurrency
, it is a crypto 2.0 that has allowed the failings of technology to become apparent. Basically, Ripples technology is the driving force behind why so many people are inspired by XRP as both a currency and an asset.
According to Yahoo, Johnson said:
“Why is there sort of a religious-like fervour around XRP? I don’t think it’s just because the technology is better. I think it’s because people have money at stake. You know, when the internet was developed, the bottom layers of the technology were free… There was no value assigned to the most basic layer of the technology.”
“Across all of crypto, the most fundamental layer has a dollar price assigned to it. When your money’s at stake, you start to pay a little more attention to things. I also think that’s one of the reasons there is such FUD [fear, uncertainty, and doubt]. People who understand it and have made a bet somewhere, want to see the other things fail. I think there are bitcoin maximalists who hate XRP because it’s not bitcoin. I think there are ether holders who hate XRP because they hold ether.”
See the full report for yourself, here-
We want to focus on this notion of the Crypto 2.0. If Bitcoin
is a cryptocurrency, then XRP can be deemed a Crypto 2.0 because it has helped to do many other things for the cryptocurrency revolution. If Bitcoin is seen as the currency that started all of this off, Ripple XRP may very well be seen as the cryptocurrency to kickstart the new generation, a generation of adoption and international collaboration through cryptocurrency. I supposed many would argue that the ‘cryptocurrency’ was designed for the underground, away from government control, yet the Crypto 2.0 was designed to be adopted and to help change the financial world, by using its inspiration from the original cryptocurrency design.
This is a very abstract idea, I agree, but I think its quite important to think about. It certainly helps to explain some of the passion experienced by XRP investors at least.
Either way, Ripple XRP is now a well-integrated part of the cryptocurrency revolution and thus, whether it is deemed a cryptocurrency, or a Crypto 2.0 it has a great future within that revolution, as a part of Ripple’s incredible technology, which really is pioneering the next stage in the cryptocurrency revolution, adoption.