With XRP flying high this week, we want to explore some theories that point towards XRP being the next Bitcoin. Now I do have to define what I mean by this a little more clearly here - Iâm not suggesting that XRP is going to become the next Bitcoin by value, or by use, however I am considering ideas that suggest XRP could become the next cultural icon as people simply get tired of Bitcoin.
Bitcoin as we know was the original cryptocurrency. Designed with this new technology, the blockchain, Bitcoin promised to disrupt the finance world and give people control of their finances. Now of course, since then Bitcoin has seen a slightly capitalised repurposing, either way though, Bitcoin is rife, as is its technology. Culturally, Bitcoin is an icon, a symbol of change and a movement spearheaded by a community of people that believe one day, cryptocurrency will lead the way.
Because of all of this though, Bitcoin could soon be old news. Due to itâs decentralisation, industries canât partner up with Bitcoin and generally, Bitcoin canât really adapt to the future beyond itâs current reach. Of course, upgrades can be made and the technology can be improved, but in a world that strives for clarity by the mainstream, Bitcoin could well fall at the last hurdle, making way for another cryptocurrency to take the lead.
Many believe that XRP will be the crypto to take the baton from Bitcoin and will become the next leader in the race.
Why do they believe this?
Regulation is the key here. XRP, as owned by Ripple is a part of a project with a clear set of rules and guidelines. There is a company ultimately responsible for XRP and thus, XRP has a chance of people adopted by companies, cities or by whomever wants to adopt it. Ripple have a responsibility to make XRP work and I think mainstream society likes that. As a result, Ripple can easily ensure XRP exists under guidelines and regulations that are going to be set out by regulators in the future.
Okay, so XRP takes away some of the freedom of Bitcoin, but in terms of it being a safe, secure and easy to use cryptocurrency for the mainstream user, XRP seems to be the way forward.
By working with regulators and by being backed by known brands and companies, XRP could become the next trophy crypto for the adoption revolution. Bitcoin will always be around, but I guess what I am trying to say here is that unless the technology continues to improve, Bitcoin could well be left in the underground, hidden from the mainstream. This isnât necessarily a bad thing, as this is mostly what it was designed to do anyway.