RATE Group | Bitcoin Won’t Be Global Currency: Ripple CEO Brad Garlinghouse
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Bitcoin Won’t Be Global Currency: Ripple CEO Brad Garlinghouse

06 Jun Bitcoin Won’t Be Global Currency: Ripple CEO Brad Garlinghouse

Posted at 03:36h in Bitcoin News by

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Ripple Brad Garlinghouse Bitcoin

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Brad Garlinghouse of Ripple told CNBC on Tuesday that Bitcoin will not be the catch-all solution people are hoping for in terms of being a global currency.

“I think it’s not going to be the panacea that people once thought it would be, where it would solve all of these different kinds of problems,” Garlinghouse said on the sidelines of Money20/20 Euorpe, which is being held this week in Amsterdam. “Instead, you’re seeing specializations of different kind of ledgers, different kinds of blockchains.”

On Monday, Apple co-founder Steve Wozniak said that he hoped bitcoin could become a one-world currency, a prediction that has been previously made by Square CEO Jack Dorsey.

While emphasizing that it’s not necessarily a case of one currency versus another, Garlinghouse pointed out that XRP transactions are “a thousand times faster” than those of Bitcoin, which he described as…

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