Ripple CTO agrees that XRP exists to challenge banks’ monopoly and empower individuals; false narratives persist among some XRP community members. Over the weekend, Ripple CTO David Schwartz expressed agreement with a series of tweets by Panos Mekras, the author of Understanding the Crypto Economy, regarding the position of XRP.  Mekras shared his perspective on the purpose of XRP. He emphasized that it was not for banks or to assist financial institutions. Instead, XRP was designed to challenge their monopoly and offer individuals a superior peer-to-peer (P2P) transaction experience. “I 100% agree with that thread. Awesome description!” the Ripple Chief Technology Officer remarked to Mekras’ sentiment. https://twitter.com/JoelKatz/status/1667991948089765889?s=20 Mekras highlighted the early vision of Ripple, formerly OpenCoin, which aimed to build an open payments system and a P2P credit network atop the XRP Ledger (XRPL).  According to the financial expert, Ripple sought to enable individuals to break free from the constraints imposed by traditional financial networks such as credit cards, PayPal, and other institutions notorious for fees, currency exchange charges, and processing delays. https://twitter.com/panosmek/status/1667917370231255043?s=20 While Ripple eventually shifted its focus to the banking system and cross-border payments, it aimed to level the playing field for smaller banks, according to Mekras, and

Ripple CTO Agrees XRP Is for Everyone, Especially People Sick of Banks

TheCryptoBasic

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