Former Goldman Sachs executive Raoul Pal says that the XRP network could play a big role in a potential future central bank digital currency (CBDC) based economy.
In a new ask me anything (AMA) session, the Real Vision CEO says that the XRP Ledger (XRPL) has built a solid foundation by actually being heavily used rather than just attracting speculative fervor.
[adinserter block="1"]“There’s this weird narrative from the past about Ripple. The point being is, even if they have to settle a lawsuit and get a slap on the wrist, Ripple plays actually quite an important role. It’s a money transmission network and it does quite a good job of it. It has deep connections with global governments around the world and has worked really hard on it.
So there’s a reason the chain is valued as highly as it is, and it’s not from speculation because actually it got taken off a whole bunch of exchanges because of the lawsuit. It’s actually because when I use my Metcalfe’s Law model, the amount of value that gets transacted on the chain is very high. It’s being used.”
Pal says that should the world move towards a global economy based around CBDCs, the XRP network as a real shot at being in the center of it all.
“So I think if you lift the legal issue, the probability is that the value of the chain increases significantly and as the world moves towards central bank digital currencies, I think the XRP Network is going to be somewhere at the center of all of that…
I know it’s not the flavor of the day for a lot of people but I think it’s a big player, it’s a real player and a real niche.”
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