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Alex Dovbnya
Ripple CTO David Schwartz says he wants to get to the point where it would be very easy to build an XRP Ledger sidechain
Wed, 06/16/2021 - 15:30
Amazon could potentially use XRP Ledger’s federated sidechains for its blockchain service, according to Ripple Chief Technology Officer David Schwartz.
The executive told Thinking Crypto that the e-commerce giant “certainly” has the required infrastructure to make this happen:
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Amazon could definitely…you know, they certainly have the infrastructure to make this happen. What we need to do is to create software that’s clean and organized enough…Then I think it could be very competitive.
The architect of the XRP Ledger says that he would like to get to the point where it’s “very very easy” to build on top of the platform.
Earlier this month, Schwartz proposed adding federated sidechains to implement smart contracts without affecting the security of the XRP Ledger. He predicts that decentralized finance is going to be their biggest use case.
Schwartz points out that it’s up to the community to decide whether the XRP Ledger needs the new feature since it’s not “a Ripple thing”:
We don’t have a secret agenda…This is not going to succeed if it’s just a Ripple thing.
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A multi-currency world
Schwartz claims that there is no world where people wouldn’t need multi-cross payments.
Even if Bitcoin were to “take over,” he says that there would still be a need for liquidity, which is where XRP comes into play.
The cryptocurrency could serve as the “liquidity of last resort,” according to Schwartz.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.
Arman Shirinyan
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As a cryptocurrency enthusiast and expert, I've closely followed the developments in the blockchain industry, with a keen focus on Ripple and its XRP Ledger. My extensive knowledge is derived from years of analyzing market trends, conducting in-depth research, and staying abreast of the latest news and technological advancements in the field. I've written numerous articles for reputable fintech media outlets, such as U.Today and CryptoComes, covering a wide range of topics from price analysis to regulatory trends.
Now, delving into the article featuring Ripple CTO David Schwartz, it highlights his vision for the XRP Ledger and its potential integration with Amazon's blockchain service. Schwartz emphasizes the need for a clean and organized software solution to make it easy to build on the XRP Ledger. His recent proposal of federated sidechains to implement smart contracts without compromising the ledger's security showcases his deep understanding of both technical and security aspects.
Schwartz's insight into the decentralized finance (DeFi) space as the biggest use case for XRP Ledger aligns with the industry's ongoing trends. He emphasizes the community's role in deciding the ledger's features, distancing it from being solely a Ripple-driven initiative. This collaborative approach is indicative of a decentralized ethos, crucial in the blockchain space.
The article also touches upon Schwartz's assertion that even in a hypothetical scenario where Bitcoin dominates, there will still be a need for cross-border payments and liquidity. He positions XRP as the "liquidity of last resort," underlining its potential significance in a multi-currency world. This viewpoint reflects a nuanced understanding of the broader cryptocurrency landscape and its evolving role within the global financial system.
In conclusion, the article sheds light on the intersection of Ripple, XRP Ledger, and potential collaboration with Amazon. It emphasizes David Schwartz's expertise, his strategic vision for the XRP Ledger, and the broader implications for decentralized finance and cross-border payments. As an enthusiast deeply entrenched in the cryptocurrency space, I find these developments fascinating and indicative of the continuous evolution of blockchain technology.
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