Ripple decided that it’s time to address the US congress in the Wall Street Journal and the company is asking lawmakers in Congress to recognize the huge potential of crypto and the blockchain.
They claim that these can boost the US economy and the dollar as well.
The letter is signed by Chris Larsen and Brad Garlinghouse and said that America has the chance to lead anew technological revolution just the same way it did with the Internet.
Highlighting Ripple's responsibility
In the letter, Ripple shows that the company is a responsible actor in the crypto space.
You may recall that Garlinghouse has talked for a really long time about how they support regulation and want to work with banks and financial institutions and not against them.
“Many in the blockchain and digital currency industry are responsible actors. We are responsible to U.S. and international law. We are responsible to serving the greater good,” according to the letter.
The letter continues and addresses the subject: “We don’t take for granted the vital role of central banks in issuing currencies and settling monetary policy in concert with the complex dynamics of economies around the world. For centuries, governments have been well suited for the job because paramount to the acceptance of any currency is trust.”
#Ripple CEO writes open letter to Congress over regulatory uncertainty.
— 𝗕𝗮𝗻𝗸 𝑿𝑹𝑷 (@BankXRP) July 29, 2019
You should definitely read the complete letter.
Ripple posted the letter on its website and it's been circulating on social media since then.
Ripple reacted to an alarm regarding a potential loop[ in XRP ledger
In other news, just recently, Ripple’s chief technology officer David Schwartz responds to concerns about a new open-source tool that’s been designed to let people upload files of any size onto the XRP ledger.
When someone is sending XRP they can write a memo that is included with the transaction.
Announcing the beta release of IndImm. IndImm, using the IndImm Messaging Protocol(IMP) on top of the #Ripple #blockchain, allows users to upload files of ANY SIZE to the ripple blockchain and exist forever to be downloaded, #Indestructible and #Immutable. #crypto #censorship pic.twitter.com/VCZsrpmNUm
— BlockChan – Censorship Proof, Crypto Powered Forum (@ind_imm) July 23, 2019
By leveraging this feature, the tool allows users to upload files on the ledger.
This raised concerns for Wietse Wind and more developers ut Schwartz addressed them.
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