Early Ripple Investor Says “99% Of People In Crypto Just Seek Profits”

One early Ripple investor is in the XRP news today, saying that most people in the cryptocurrency market are not rooting for the tech – but are only investing for profits. The crypto market is like none other, and most traditional investors are shying away from the volatile market even as returns eclipse any other asset class.

Blockchain continues to develop, but one early blockchain investor believes that this industry still holds promise – even as most run behind purely incentive based objectives. We are talking about Kevin Rose, an early ripple investor and American Internet entrepreneur who is best known as the co-founder of the news platform Digg which curates stories from many sites.

The early Ripple investor has also worked with Google Ventures (GV) and is now a partner at True Ventures. However, there is a small bit which not many in the crypto industry know. At GV in 2013, Rose led the venture investment in a then-obscure blockchain firm, Ripple Labs, which went on to become one of the world’s most popular providers of blockchain-based enterprise solutions.

Speaking to TechCrunch as part of a larger interview, Rose was asked about his current position at Ripple, which is how he gave the “controversial” answer. The 43-year-old noted:

“There was a very different world when Ripple was first getting off the ground (…) there was no way for the enterprise to embrace it (cryptocurrency) in any fashion.”

Rose also added the Ripple business plan and was in the cryptonews and XRP news for stating that creating the entire inter-bank framework for transfers and messaging built on blockchain was an “exciting” idea. However, the early Ripple investor said that the use case for Ripple’s currency (XRP) was something that he “never really saw.”

When asked about the wide variety of cryptocurrencies on the open market and their true potential, Rose noted:

“It’s early days. I think that this is going to be a space that will continue to mature over the next couple of decades.”

He further notes there is a “good chance” that one won’t even know they are using crypto, even as a user interacts with a blockchain based platform and oversees settlements taking place on distributed ledgers. Such developments, as he said, will “most likely” happen in a simple and easy-to-use interface “by a very trusted brand.”