Swift Exec Seemingly Shades XRP, Compares It to ‘Fax Machine’

Tom Zschach, chief innovation officer at Swift, has escalated his feud with the supporters of the $XRP army.

In his most recent post, he compared using a private token as a "bridge currency" to using a fax machine and calling it the internet.

"Fast? Sure. Revolutionary? Only if you’ve never used Wi-Fi," Zschach quipped in his social media post.

Even though Zschach did not name $XRP directly in his post, it is more than obvious that he is referring to the Ripple-linked token, and this is evident based on the hundreds of angry comments that he has received from the members of the community.

Some particularly criticized Zschach for "smearing" $XRP as Ripple's private token even though the popular altcoin is positioned as a decentralized.

Swift's blockchain plans

The latest post comes after Swift recently unnerved the $XRP community by announcing that it is working on its own blockchain together with Ethereum developer Consensys. Major banks, including JPMorgan and Deutsche Bank, are expected to take part in the project.

Recently, Zschach also questioned Ripple's chances of conquering the financial system, predicting that banking institutions would not be using the $XRP token.