The decentralized nature of the XRPL enables anyone, including individuals, businesses, and banks, to leverage its features based on their specific needs and preferences. XRP’s core purpose is to liberate people from the control of these institutions and restore power to individuals. Mekras emphasizes the importance of staying grounded in reality and acknowledges XRP as a tool intended to empower individuals dissatisfied with centralized entities’ limitations and high fees. Panos Raises Concerns Over XRP Community Misconceptionsįurther, Panos expressed disappointment over certain members of the XRP community who still harbor misunderstandings about the token’s intended use.Īccording to Mekras, these misconceptions originated from Bitcoin maximalists and were later disseminated by self-proclaimed “XRP influencers” and YouTubers, spreading false narratives. Instead, they aimed to level the playing field for smaller banks and disrupt the dominance of the ‘SWIFT cartel’ controlled by larger institutions. Panos added that Ripple’s intention was not to assist banks and financial institutions even though they eventually shifted their focus towards the cross-border payments and banking system. He highlighted issues like high fees, currency exchange charges, and delays commonly associated with credit cards, PayPal, and other institutions. The financial expert explained that Ripple’s objective was to empower individuals by providing them with an alternative to the limitations imposed by traditional financial networks. Panos highlighted Ripple’s earlier version, OpenCoin, which aimed to develop a P2P credit network and open payment system on the XRP Ledger (XRPL). Panos Highlights Ripple Cutting-Edge Features Instead, XRP was explicitly crafted to disrupt their monopoly and provide individuals with an enhanced peer-to-peer (P2P) transaction experience. In a recent tweet, Mekras provided his viewpoint on the role of XRP, stressing that its purpose did not revolve around banks or aiding financial institutions. Ripple CTO David Schwartz recently concurred with the author of “Understanding the Crypto Economy,” Panos Mekras, regarding the position of XRP. Join Our Telegram channel to stay up to date on breaking news coverage
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