Leading Google’s venture capital arm, Google Ventures’ investment in Ripple, the entrepreneur is skeptical about the future of XRP.
Kevin Rose, a technology entrepreneur who led Google’s venture capital investment in Ripple, made evaluations about the early days of the blockchain technology company and the cryptocurrency XRP.
In an interview with TechCrunch, Digg co-founder Kevin Rose stated that Ripple’s goal was to provide companies with an enterprise, legal and convenient payment opportunity using Blockchain technology.
“When I look at Ripple’s early stages, I think of a company that has the power to set a standard, perform transactions, work with commercial banks, and have a backbone based on Blockchain technology,” Rose said in the interview. The motivation here was to create a technology that would ease commercial banks and understand and accept them. Because they were not comfortable with blockchain technology that was created only by some unrecognized people to the banks. ” said.
Rose led the investment in Ripple by Google venture capital in 2013. The investment number is unknown.
“XRP may not be long term”
Ripple’s crypto money, XRP, is skeptical, and is unsure whether XRP will be able to survive for a long time. Instead, Rose notes that Ripple plans a long-term system to settle global remittances.
Regarding the issue, Rose said, “I have never seen Ripple’s use as money. I always saw this system as a system where payments will be settled in capacity. ”
Finally, Rose states that cryptocurrencies will be used extensively in cross-border payments, and consumers cannot be noticed when a company backstage uses digital money. The successful entrepreneur said that the system has matured over time and will start to become mainstream, which will take about 20 years.