I always enjoy Laura Shin’s podcasts, both the classic Unchained and the new Unconfirmed, but this one was specially interesting
The discussion is with Ryan Selkis, CEO and founder of Messari and Matt Leising, Bloomberg reporter, and it starts with a discussion of why Ripple itself is not represented in the conversation (I don’t know if they have responded since this was released on Tuesday, I do hope that they shall)
Whatever your views on Ripple and XRP, the third-largest coin by market cap, the behaviour of Garlinghouse and his team about representation (or not) on this pod has been very strange. I for one appreciated the transparency with which the whole conversation was presented.
But it was the revelations about how Ripple is misrepresenting XRPs use by banks and other institutions, which was really fascinating. In fact Ripplenet, Ripple’s main product - the thing with which they are attempting to take on the SWIFT network - doesnt actually use XRP at all. Which makes sense, as banks could never use a token which regulators may never approve. And even if XRP was the ultimate solution for interbank transfers, it begs the important question as to why that should make it any kind of investment for individual investors?
It did see amazing early returns, but I can’t help but wonder if all that was due to some quite misleading statements about partnerships with banks and brokers, or at the very least a deliberate conflation of Ripple with XRP. People still talk about a token called Ripple, and such a thing does not exist, it never has done.
Added to that all the issues regarding centralisation and the lack of miner involvement, also the way Ripple has attempted to buy its way onto big exchanges (to no avail), and it all starts to smell really unpleasant.
A highly recommended podcast, if only to hear the generally unflappable Ms Shin rather go off on one regarding how she invites and chooses podcast guests, and the shownotes linked above have some good references if you want to dig deeper into this.