Ripple CEO Claims: Ripple Is A Centralized Company Investing In A Decentralized Technology

Ripple CEO Brad Garlinghouse, made a statement at the recent blockchain event ‘’Swell’’ held in San Francisco, that he believes that XRP is ‘’very clearly decentralized’’. In a recent interview for a cryptocurrency news channel, he says that ripple is suitably decentralized to evade security classification.

This comes right when the SEC Division of Corporation Finance stated that ether doesn’t go under federal security law because it was distributed through a token sale and became decentralized.

Brad continued at the conference:

“Is XRP centralized or decentralized? It is very clearly decentralized. I, as CEO of the company, can’t control the XRP ledger. I can’t change a transaction. Anybody can participate in the XRP ecosystem, and if Ripple does something that is not in the best interest of the ecosystem, the rest of the ecosystem can ignore us.
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The former executive of Yahoo! Explained that XRP is even more decentralized that Ethereum and Bitcoin because the mining method that is used to get bitcoins tend to bring centralization by lowering down the number of mining pools and eventually conclude at choosing from the top 10.

However, for some this comes as a biased opinion so many analysts gave their own opinion on how they believe that XRP is even more centralized than both Ethereum and Bitcoin. The explanation behind this comes from the fact that even after selling a huge number of XRP tokens, Ripple still owns the large majority of the total supply.

Of course, Garlinghouse denies these allegations and claims that critics usually only follow the economic interest and don’t see the bigger picture. He explained the relationship between Ripple and XRP as a centralized company investing in a decentralized technology.