FIATA currency will not lose relevance in the near future, it works fine. Before we talk about its replacement for cash, you need to ensure that digital assets can better perform its functions. This was stated during the podcast, Stanford Legal Ripple CEO brad Garlinghouse (Brad Garlinghouse).
According to him, the best use of cryptocurrencies are cross-border operations of the savings and assets, not the use in everyday life, so replacement of traditional currency into digital money in the near future is meaningless.
“In some economies very weak FIATA currency. If I were a resident of a country with hyperinflation, I would keep their savings in Fiat currencies or digital assets? In this situation, many people prefer to keep their money in the crypt, is the best asset for savings,” — said the head of the Ripple.
According to Garlinghouse, world virtual currency can actually be better than Fiat, in the case of weak economies affected by inflation.
We will remind, the co-founder and head of the Ethereum blockchain company ConsenSys Joseph Lubin (Lubin Joseph) at the end of August said that the technology Ripple is not a blockchain.
In June, the main Ripple cryptographer David Schwartz (David Schwartz) and President of the company’s successful development of clients tricher Marcus (Marcus Treacher) has admitted that the technology solution xCurrent not “is a distributed registry”. In addition, they added that banks are currently not willing to use the blockchain.
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