News
Ripple: the new face of finance according to Wall Street!
Sat Jul 06 2024 ▪ 3 min read ▪ by Eddy S.
In a recent podcast titled “Good Morning Crypto,” Wall Street analyst Linda Jones shared a bold perspective. She suggests that Ripple could play a role similar to that of the Federal Reserve in the emerging financial system. This statement comes in the context of the BRICS coalition’s efforts to break free from the dollar standard and its potential impact on the American economy.
Crypto: Will Ripple Replace the Federal Reserve?
On the “Good Morning Crypto” podcast, Jones emphasized that the BRICS coalition is not opposed to the United States but rather to central banks and the dominance of a single currency that controls the world. She also emphasized the coalition’s opposition to the Fed’s control of the global economy via the U.S. dollar. According to Jones, a new U.S. currency could emerge, potentially backed by gold or the U.S. dollar. other assets.
She advocated for a financial system backed by real assets, stressing that the world needs to move away from the fiat banking system that relies on the dollar. Jones recommended a transition from a trust-based system run by central banks to one based on truth and characterized by transparency. She also made it clear that this change would not mean failure for America, especially since Ripple, an American company, is at the forefront of this new system with the XRPL Ledger cryptographic blockchain.
A lesson from the past?
Jones’ proposal highlights the importance of transparency and accountability in the cryptocurrency industry! This topic is even more relevant when you consider the history of the exchange MT. Gox. In 2014, the exchange suffered a massive hack, resulting in the loss of hundreds of thousands of bitcoins, and declared bankruptcy shortly after. The fall of MT. Gox served as a painful lesson in the security risks and consequences of opaque management in the crypto space.
Linda Jones’ analysis of Ripple and comparison with the Fed underscores the need for a more transparent and accountable financial system. Mount Gox serves as a reminder that to avoid repeating the mistakes of the past, the crypto industry must adopt safer and more open practices. A goal that Ripple seems poised to achieve.
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Eddy S.
The world is changing and adaptation is the best weapon to survive in this undulating universe. As a crypto community manager at heart, I am interested in everything that is closely or remotely related to blockchain and its derivatives. With a view to sharing my experience and making known a field that fascinates me, there is nothing better than writing informative and relaxed articles at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making any investment decision.