RATE Group | Bitcoin is like Napster: an important flop, Ripple CEO says
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Bitcoin is like Napster: an important flop, Ripple CEO says

30 May Bitcoin is like Napster: an important flop, Ripple CEO says

Posted at 21:00h in Bitcoin News by

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Ripple CEO Brad Garlinghouse

Ripple CEO Brad Garlinghouse


Ripple

Bitcoin started the cryptocurrency revolution, but ultimately it looks like it could be more like the Napster service that changed the rules of digital music without actually succeeding.

That’s the view of Brad Garlinghouse, chief executive of Ripple — and a proponent of his company’s own rival cryptocurrency, XRP.

“We may come to find that bitcoin is kind of the Napster of digital assets. It showed us what’s possible,” he said, speaking at Recode’s Code Conference. “This is transformative technology, but Spotify and iTunes and Pandora rule the day because they engaged with regulators to solve a real problem.”

Cryptocurrencies and the accounting technology that powers them, blockchain, face an uncertain fate. Countless startups and…

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