Ripple XRP is planning to separate from the core business. The startup decided to start with the symbolic framework and to re-brand the asset.
The Ripple community has already created a Twitter account and a repository on GitHub, which koordiniruyutsya a tender for the design of the character, the vote itself and other activities. In the annotations on GitHub says:
“To XRP perceived as money, it needs its own symbol. Just as the dollar has its own sign “$”, XRP should be a universal sign representing a separate unit of XRP. The logo used now, perfectly represents the company Ripple in the market and should remain unchanged, but there should be a designation for the units of the digital asset”.
The vote on the final version will take place tomorrow. The options proposed by the participants, intentionally radically different from the logo that the company and the asset are shared between them.
According to one theory, the Ripple is committed to the visible demarcation XRP to the asset as small as possible consistent with the definition of securities. The likelihood that the Commission on securities and exchange Commission (SEC) include the XRP to the group of representatives of capital, quite large, since most of the tokens belong to the company. As a consequence, the decision of Ripple does not cause problems from the point of view of motivation, however, it is difficult to say how convincing will be rebranding.
For example, when the Creator of a resource Are We Decentralized Yet Jackson Palmer (Jackson Palmer) he asked to use the XRP is Ripple, if it was about the asset, he said
- The basic code for the client is called “Ripple”
- In Explorer use the logo “Ripple”
- On coinmarketcap.com the asset is indicated as “Ripple”
- On Binance and many other exchanges token XRP is traded as a “Ripple”
If you make changes to all 4 items, I will start to use the name that is listed on this website.
According to the head of Department GR company Ryan Paddock (Ryan Zagone), structural Ripple and XRP are divided because the XRP registry — open, that is, any company can use it on your own. Although nominally this is true, the participation of third-party companies too few, and the vast majority of code initiatives came from employees of the Ripple. In theory, greater independence XRP could make a register of the asset more attractive to businesses — although it is unlikely he will ever be Hyperledger from the world of entrepreneurship.
As noted cryptocurrency critic Preston Byrne (Preston Byrne), approval of the Corral that “between Ripple and XRP is no direct link” is just not credible. Many denials of these words can be found on the official website of the startup, and on third party sources. Enough to pay attention to the fact that to control node XRP must obtain permission server the Ripple.
Because the company owns 55 billion XRP tokens, the best solution for her would be to burn a portion of their reserves. But it would spoil the balance sheets Ripple, so it’s rebranding campaign will only gain momentum.
Too close a relationship with XRP Ripple and its other products led to lawsuits from investors. However, the asset cannot be discounted; more CoinMarket.News explains why in this material.
