Ripple CEO: central banks will not give up on fiat currencies in my lifetime

Ripple’s executive director Brad Garlinghouse does not believe that the central banks of the world would adopt any cryptocurrency in his lifetime, as witnessed by the recent interview to the financial media. The chief executive of the company behind the third most capitalized cryptocurrency has had conversations with central banks of the world and probably knows what he’s talking about.

He even told that in some way, the United States dollar is already a token with individual number and protection from forgery. Quite possibly, same logic was used by the Federal Reserve, which, as recently told by Treasury Secretary Steven Mnuchin, decided not to digitize dollars.

Back to Ripple. The XRP platform continues to be widely promoted among banks, and the CEO ambitiously states about hundreds of banks they are planning to hold negotiations with. When it comes to actual deals, other reports suggest that IDT Corporation and MercuryFX agreed to use Ripple’s products. The work that the current leadership of Ripple faces becomes more difficult if one remembers about the recent downfall of this cryptocurrency - serious market figures often deem the volatility of digital currencies unacceptable.

Current market price of Ripple is $1.33, which is still greater than 0.1 in the early autumn 2017. The drastic growth of this cryptocurrency has been one of the most notable events on the market at the end of the past year.