Ripple chief technology officer David Schwartz and Venture Coinist founder Luke Martin are debating the utility of the crypto asset XRP.
In a series of tweets, Martin questions XRP’s use as a fuel for payments and says stablecoins pegged to traditional assets have the liquidity required to move money.
“I asked [David Schwartz] what XRP is useful for because it did not make sense to me and his response didn’t make sense to me either.
If it’s for payments, stablecoins are better. Even if you think it’s better for payments, there’s no incentive to hold (not store of value or income-generating).”
In response, Schwartz says he doubts that a single stablecoin will be widely adopted on a global scale.
In order to exchange one stablecoin for another, he believes a digital bridge currency, such as XRP, will be necessary.
“If the whole world settled on one stablecoin, I’d agree with you. But stablecoins are always going to