In the recent period, alternative digital currencies have been suffering from a general decline, and this was evident after the rise of Bitcoin to new records, leaving most of the alternative digital currencies behind with red indicators.

While the price of Bitcoin rose by almost 30% in a month and 6.42% in one week, Ethereum coins lost 4.95% and Ripple 5.19% of their price in the same period.

in this context He expressed A member of the Ripple community expressed his dissatisfaction with the performance of the Ripple currency on Twitter, and asked “David Schwartz,” Chief Technology Officer at Ripple whether his comment he made in 2017 about increasing XRP adoption would remain an unfulfilled expectation, as the increase in acceptance is generally associated with A corresponding increase in the price of XRP.

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rejection Schwartz said his comment was only meant to express that Ripple will implement a strategy aimed at increasing adoption and not wait for banks to offer digital assets on their own initiative.

The same user also asked about the reasons that might prompt the bank to offer a digital currency such as the XRP currency, and what is the possibility of financial institutions conducting a coordinated opposition process against encrypted digital currencies?

Which could render XRP practically useless.

Schwartz responded negatively about such a possibility and first explained the obstacles slowing the adoption of XRP, saying:

Organizational uncertainty, last mile problems, fear of retaliation from existing partners, etc.

Another important thing is that the best customers are those who will use digital currencies as a bridge to build new products.

They have a great incentive to see projects through to completion and will pay benefits all the way to clients.

But in this case, even when they are 100% ready to go, they still have zero customers because the product is new.

So gaining momentum is slow.

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Obstacles that Schwartz cited, such as regulation, could lead Ripple to move its headquarters.

This was previously announced and highlighted by Brad Garlinghouse, CEO of Ripple.

He told Garlinghouse that the United States of America should be greedy for innovation and be more open to cryptocurrencies because current regulations and the legal framework have the opposite effect.

The countries available as an option for Ripple to move its headquarters towards it … including an Arab country

Ripple’s technical director and his views on the new JPM coin:

It was completed Official launch The digital currency of the banking giant “JP Morgan” called “JPM”, where the bank aims through this new digital currency to be a tool to increase international payment capabilities, and thus it is a direct competitor to the XRP currency.

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Schwartz commented on the new JPM coin by saying:

JPM will only be useful to people who trust JPMorgan and who are in a JPM compliant jurisdiction.

We don’t see a direct competition between JPM and XRP.

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