myth exposed: XRP was not designed for banks, but as a decentralized alternative to finance
<p> <strong> myth exposed: XRP was not designed for banks, but as a decentralized alternative to finance </strong> </p>
XRP: A decentralized alternative to traditional finance
XRP was not originally designed for banks, but as a decentralized alternative to the traditional financial system. The aim was to eliminate digital payment service providers and intermediaries. This original vision emphasizes decentralization and the promotion of financial personal responsibility, while the establishment of a centralized financial system was rejected.
The foundation of the XRP Ledger
The XRP Ledger (XRPL) was launched in June 2012, long before Ripplle Labs was founded. The developers David Schwartz, Arthur Britto and Jed McCaleb had the main goal of enabling fast transactions and integrated tokenization functions - regardless of traditional financial institutions.
Contrary to widespread assumptions, the original focus of the XRP project was not geared towards working with banks. Instead, the developers pursued the goal of eliminating digital payment service providers and credit card companies. A central aspect was the strengthening of financial personal responsibility, the shortening of transaction times and the protection of users from attempts to censorship. Despite the widespread myth that XRP was designed for banks, the original project goals of decentralization remained loyal.ripple and the institutional applications
A few months after the start of XRPL, Ripple Labs Inc. (then Opencooin) was officially founded, and Chris Larsen joined the team. While Ripple Labs moved his business activities to institutional applications and international bank transfers, the technological basis of XRP remained.From 2014 Ripple began to build relationships with financial institutions in order to offer smaller banks in particular. Ripple strived to offer the banks controlled by Swift an alternative option to improve the efficiency of cross -border payments. However, these strategic partnerships did not pursue the goal of undermining the decentrality of the XRPL. Users were still able to carry out independent peer-to-peer transactions without the need for central control systems.
decentralization as the core principle
The founders of XRP clearly spoke out against the support of a centralized financial system, according to Blockchain consultant Panos Mekras. Schwartz 'experiences with payment censorship contributed to developing a clear vision for an autonomous financial system. XRPL should guarantee users unreserved control over their assets.
In contrast to conventional systems, XRP enables cross -border payments without intermediaries. The integrated decentralized stock exchange of the platform allows users to emit assets and thus facilitate trade, which strengthens financial autonomy.
FAZIT
XRP therefore stands not only for technological innovation in the area of payment processing, but also for a plea for more decentralization and self -determination in finance. Despite the developments and partnerships with banks, the basic mission of XRP remains to promote the financial personal responsibility of the users and to question the traditional financial system. The XRP course currently notes at $ 2.38, which corresponds to a decline of 4.43 percent in the last 24 hours.