The post Ripple News: 1988 Patent Suggests XRP Ledger’s Early Roots; Crypto Influencer Max Keiser Slams XRP. appeared first on Coinpedia Fintech News
Recent revelations suggest that David Schwartz, the Chief Technology Officer at Ripple, may have had the initial blueprints for the XRP Ledger in 1988. This information challenges the widely accepted history that the network was established in 2011 by Schwartz Jed McCaleb and Arthur Britto.
EDO Farina, an influential XRP advocate, recently ignited a Twitter storm by sharing a patent document 1988 filed by David Schwartz.
Farina tweeted, “David Schwartz filed a patent similar to #BTC in 1988 and worked for the NSA. Satoshi also came out with a coloring book that also hinted towards ‘Ripple’. I wouldn’t be surprised if the upper C level of the Ripples team is behind #BTC as a test before introducing $XRP.”
David Schwartz filed a patent similar to #BTC in 1988 and worked for the NSA. Satoshi also came out with a colouring book that hinted towards “Ripple” as well. Wouldn’t be surprised if it was the upper C level of Ripples team that is behind #BTC as a test before introducing $XRP pic.twitter.com/L06tGs3rZ2
— EDO FARINA 🅧 XRP (@edward_farina) September 24, 2023
The Patent in Question
The patent filed by Schwartz in August 1988 talks about a distributed network of computers for data processing, where each node manages part of the data. While not directly mentioning blockchain or the XRP Ledger, the similarity between the patent’s description and how validation works on today’s XRP Ledger is uncanny.
Crypto influencer Max Keiser swiped at the news, tweeting, “XRP is CENTRALIZED s*** as you can plainly see from the patent.” This tweet resonates with a portion of the crypto community that has often criticized XRP for being too centralized, a claim Ripple has consistently refuted.
The Ripple Effect: Impact on Global Systems
While the debate rages on, it’s worth remembering that the Ripple network has already gained considerable traction in the global financial system. Colombia’s previous administration considered using Ripple for its national land registry, and numerous banks worldwide employ the network for speedy, cost-effective payment transfers.
In his tweet, Farina also touched upon the potential “downfall” of Ethereum, suggesting that Stellar and XRP Ledger “are ready to absorb all the real-world utility.” This ominous warning comes when Ethereum faces scalability issues, making room for other networks like the XRP Ledger to emerge.
