Jeffrey Tucker: “XRP is an extremely important technology»

According to American economic columnist and Bitcoin fan Jeffrey Tucker, Ripple and XRP can change the world, but XRP is not necessarily suitable for a retail investor.

During the program
Boom Bust on RT, Tucker said that Ripple using XRP can “close all the shortcomings” of the international payment system SWIFT. However, for XRP to be more successful, it needs to attract more retail investors.

“We must remember that XRP is a specific type of cryptocurrency. This is not the cryptocurrency that was dreamed of in 2009, when bitcoin appeared. This is a great intermediary technology. And it’s proprietary, so many cryptocurrency fans don’t consider investing in XRP. But that doesn’t mean it can’t change the world.

I think this is an extremely important technology, as it solves all the problems of the outdated SWIFT system. Our traditional financial systems will not keep up with the new era of globalization.Cryptocurrencies can occupy this niche and solve all the problems. And XRP is great for this. But not as a token or investment tool, ” Tucker said.

The economist also noted that XRP absolutely should not be equated with securities. In General, according to Tucker, it is time for regulators to get used to developing technologies and stop using the old rules to regulate the new reality.

“There is a problem here. These old categories are not suitable for new technologies — they, it turns out, describe the ownership rights to the Protocol. And this is not the same as a security. And we are trying to classify the technologies of the twenty-first century in terms of the twentieth century. It doesn’t make sense.

Why do we do this? Just to preserve the regulators, the legal regulations, and the bureaucrats so that they can control something there. But this is all nonsense. Cryptocurrencies are not securities, they are something completely new. Eventually, Washington bureaucrats will understand and accept the fact that we live in a progressive world, that new things are being invented.

We have already realized that there is anonymous money. And payment systems that use them. This could not have been imagined 15 years ago. We need politicians and bureaucrats to understand that a new era has arrived. And it came in January 2009, when Bitcoin appeared, ” the economic columnist said.

A Deutsche Bank study published in early December says
that cryptocurrencies can replace Fiat currencies by 2030.