CEO Ripple brad Garlinghouse, speaking at a conference Stifel Cross Sector Insight in Boston, said that “bitcoin is actually controlled by China”.
This statement Arlinghaus made during the interview dedicated to blockchain technology and cryptocurrencies for Stifel Tech:
Here’s another story that only few writes and speaks. Bitcoin is actually controlled by China. In China there are four mining companies, which control more than 50 percent of the bitcoin network. Is there any guarantee that China will not intervene? How many countries want to use China’s controlled currency? The answers to these questions are obvious.
Arlinghaus also shared his view on technology that lies at the Foundation of BTC, XRP, and many other cryptocurrencies. In particular, he said that blockchain technology will not be able to destroy the banking industry, though, and “will play an important role in how the banking system in the future.”
According to Garlinghouse Ripple is “the best digital asset for today”. Arlinghaus stated that “the average speed of the transactions in the network of bitcoin is 45 minutes”, whereas XRP is doing the same thing for four seconds.
Read also – analysts: don’t expect a recovery bitcoin in the near future
In February, trading platform BitMex has published a special report dedicated to Ripple and XRP token, which found that the structure of the Ripple consensus Protocol offers a more centralized structure than is the company.
According to the report, the research team BitMex conducted an internal test of the technology Ripple. The team has installed and commissioned a copy of Rippled, Noda worked five downloading public key from the server Ripple, all of which were assigned to Ripple.com. To accept the offer (or transaction) it was necessary to obtain confirmation from four of the five keys:
Since all the keys have been downloaded from the server Ripple.com you can say that Ripple has full control over the network, and the system is centralized.