Ripple’s XRP Community Confusion with the Firm Actually Working for the Good
The San Francisco based blockchain tech related giant – Ripple Labs has initiated, this year, a process of differentiation from its blockchain token XRP. This comes due the confusion by the crypto-verse between the two as in many headlines, google searches, article and so on, enthusiasts speak of the two in the same manner as if they were the same.
Ripple – XRP
Both, the company and the token have hoisted each others fame via the marketing they did/caused. Of course, a big part of Ripple Labs’ success has been its marketing schemes–most notably, its interest in celebrities.
Bill Clinton, the 42nd President of the United States, will deliver a keynote address at the upcoming Ripple Swell conference. Former president Bill Clinton helped usher in a period of extreme growth and adoption of the internet. When groundbreaking technology and regulation were on a collision course, Clinton’s activities shaped the internet to what it is today.
Ripple commenting on the importance and relevance of blockchain technology and digital assets said:
These learnings are perhaps more relevant now than ever before. Like the Internet boom of the 90’s, we are at an impasse: digital assets and blockchain technology offer a way for value to be exchanged as quickly as information – creating more financial inclusion and economic opportunity. However, with this new technology comes with the potential for concern, requiring thoughtful policy to protect consumers from risk without hampering innovation.
Now turning back to the association between the firm and the coin, it might seem very not important how many do not see the difference. However, it has impacted quite well in the past many times, especially XRP.
In the past, the price of XRP spiked many times when an announcement was made by Ripple Labs’ team, even if that had nothing to do with the coin but one of the firms financial solution. Similar, when xCurrent network was adopted by the UAE exchange, it pushed the tokens price upwards.
Mati Greenspan – eToro analyst added for Business Insider:
“A lot of newcomers are of the understanding that holding on to XRP tokens is somewhat similar to holding shares in Ripple Labs, which is completely false.”
“Many of the deals that they do and the payment channels that they set up, at the end of the day, are not going to use XRP tokens,” he explained.
Later on down the road, the firm turned to the process of logo-creation for the XRP token so it is easier to be told apart by the community.
Marcus Treacher, Ripple’s Global Head of Strategic Accounts, clapped back: “it’s one of our creations that we’re proud of but it’s separate from the company. We are trying to reinforce the fact that there’s Ripple the company and there’s XRP the currency.”