Brad Garlinghouse, CEO of Ripple Labs Inc., recently appeared at the TechCrunch Disrupt conference in San Fransisco, where he discussed various topics like, the future of Ripple, Satoshi vision, resistance to XRP, the SEC and the “Queen of Pop”, Madonna with Michael Arrington, Partner at Arrington XRP Capital, and host, Mike Butcher.
Setting the context to the discussion Mike said that Ripple has been trying to get people to use XRP, banks to use XRP, and the bearish trend of cryptocurrencies. Hinting at the fact that Ripple was trying to promote XRP through celebrities, Mike said:
“You’re getting Madonna to talk about XRP, you’re getting Ashton Kutcher to talk about it. I mean, these aren’t necessarily the people who stayed Bankers normally listen to it.”
Here, Michael Arrington jumped in and said:
“Did you have to pay Madonna? I don’t know about.”
Brad said Ripple has been very proactive when it comes to supporting a good cause. He argued that they did not give money to Madonna but gave money to a philanthropic effort that “Madonna was a champion of”.
When Michael Arrington asked, how Ashton Kutcher was involved, he said “he [Ashton Kutcher] and Madonna are friends,” and so, he has been an active part of that. In support of the good cause, he also revealed that the company has funded DonorsChoose. He stated:
“Ripple has been very proactive as a company. Both its leadership team as well as the company in being philanthropic. We have supported, we gave 29 million dollars to DonorsChoose which funded every… brother if you don’t know DonorsChoose, it is one of the most incredible organizations I’ve ever seen.”
In Mike’s opinion, Ripple could spend it all from the leftover cryptocurrency available from when the company mined it. Garlinghouse responded by stating that in a generic sense the Silicon Valley does enough to give back. Arrington argued that Google never funded DonorsChoose. He also said:
“..That these projects that come out and raise a lot of money in some cases, billions of dollars.., they don’t need that much money. And so, I always think it’s odd. And, I think that if you look back at the history of Silicon Valley, there are, as far as I know, zero examples of companies that have raised massive amounts of funding before they launch a product and being successful.”
Brad said that Ripple may be accused of being the devil in terms of how they partnered with the system but has never been accused of being the devil for being supportive and philanthropic of good causes in the world.
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Ripple’s initiative invests in Bolt Labs to improve secondary payment channels and expand interoperability
Ripple’s arm, Xpring which invests and incubates in companies and individuals which help improve the XRP ecosystem, invested in Bolt Labs. With the new investment, Xpring hopes to develop solutions that will help improve the security of secondary payment channels and increase the interoperability by integrating with the ILP.
Bolt is a private, off-chain scaling solution which was built on top of Z-cash, a privacy-focused cryptocurrency, has attracted more than a few well-known investors in the crypto-space and Ripple’s Xpring is one among them. In a blog, Bolt Labs said that their solution will focus not only on ZCash but also other publicly available cryptocurrencies that do not have inherent on-chain privacy features.
It also stated:
“The potential for these implementations to be networked together with technologies like Interledger opens the potential further for cross-chain interactions with these privacy guarantees baked in.”
The above statement suggests that they might have a “potential” implementation for these on Interledger Protocol [ILP]. ILP was created at Ripple developed by the Interledger W3C Community Group. ILP aims at connecting two different blockchains, to integrate two different ledgers and have seamless operations between them.
This would vastly benefit the payments industry, which is facing a revolution at the hands of a nascent technology like blockchain. Ripple, a payments provider, which is leveraging cryptocurrency and blockchain to facilitate faster payments, would benefit largely from this partnership. In addition, this could also signify a potential development on the XRP Ledger and its on-chain/off-chain privacy and the currency, XRP.
A Twitter user @XRPCentre tweeted:
“If the solutions being developed by the company are able to improve the privacy of the ILP transactions, they would also be enhancing the privacy of XRP/ILP payments, which is a very demanded feature…. It’s all about interoperability and destroying network effects. If ILP succeeds in being the best protocol for cross-protocol/ledger transactions, you’d naturally search for the best asset therein.”
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