Ripple CTO: We Want to Create a Payment Network Like SWIFT But…

While many people focus on XRP’s price, Ripple’s Chief Technology Officer, David Schwartz, continues to share a bigger and more important message. According to a recent tweet by the crypto commentator “All Things XRP,” Schwartz has been quietly explaining XRP’s real purpose in interviews, Reddit posts, and technical discussions. His comments show that XRP is not just a digital asset — it’s the foundation of a larger plan to change how money moves worldwide. Schwartz summarized the goal clearly: “We want to create a payment network like SWIFT. But one where the settlement, the actual movement of money, the actual plumbing underneath the surface, would be a decentralized, open network… The endgame is just money moving invisibly, as easily as information.” In simple terms, he wants to replace old systems like SWIFT with faster, cheaper, and open technology, and XRP is the base of that system. A Personal Reason for Joining Crypto Schwartz didn’t join the crypto world just for the technology. He had a personal reason. He once faced a situation where banks would not do business with him, and as a result, he couldn’t even get access to the legal system. He said, “If no bank will do business with me, I don’t get a hearing in a court of law… They’re enforcing the law in a way that doesn’t have any of the normal protections… That got me into the Bitcoin community.” This experience made him realize how much control large institutions can have and why a decentralized financial system matters. His views go beyond banking. He believes that some of the people who control financial systems are not accountable to the public. He stated, “The idea of disintermediating these shadow regulators that are not democratically accountable… really resonated with me.” That’s why Schwartz supports systems like the XRP Ledger — they are built to give more control to users and remove unnecessary gatekeepers. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 XRP Ledger and Stablecoins One of Schwartz’s most important comments relates to stablecoins on the XRP Ledger. He said, “What’s interesting about this proposal is that the stablecoins are perfectly liquid to XRP at face value on the ledger.” This means stablecoins issued on XRPL can be exchanged for XRP immediately, with no delay and extra cost. They work smoothly within the system. He added, “By the design of this system, the stablecoins can be offered through the on-ledger decentralized exchange, and they spend like XRP.” That means stablecoins are treated the same way as XRP. They can be used, traded, and moved just as easily. This makes XRPL a strong platform for decentralized finance. Built from Scratch for Speed and Efficiency Schwartz also explained why the XRP Ledger is different from older systems. “When you try to update a legacy system, you tend to be pressured to keep things… I think the clean-sheet approach is almost always going to produce a better design at a lower cost,” he said. Instead of trying to fix outdated technology, Ripple built the XRP Ledger from scratch. That decision made it faster, cheaper, and more scalable. He also talked about how institutions use blockchain in new ways. “Institutional adoption of blockchain technology — specifically institutions interacting on blockchains — has been slow. But adoption of tech where they aren’t tightly tied to layer 1 is growing rapidly.” This shows that even if institutions are not using XRP directly, they are moving toward systems that connect to it. A Clear Legal Position Schwartz also addressed the ongoing legal issues between Ripple and the U.S. Securities and Exchange Commission. He said, “All the evidence suggests XRP and Bitcoin are similar — contrary to what the SEC claims.” In his view, XRP and Bitcoin function similarly and should be treated equally. This statement supports Ripple’s legal position and pushes back against claims that XRP is different. To end his series of points, Schwartz said, “I think the XRP Ledger’s architecture gives it long-term advantages that people still don’t fully appreciate.” He was referring to its speed , low fees, and energy efficiency — all features that make it ready for widespread use. The message is clear: XRP is not just about price. It’s part of a larger plan to change how money moves, make systems more open, and give people more control. David Schwartz’s words give a clear look into the plan already underway. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple CTO: We Want to Create a Payment Network Like SWIFT But… appeared first on Times Tabloid .

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