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Ripple News: Founder Sees ‘Fundamental Flaws’ in XRP, Predicts ‘More Downside’
Anthony Georgiades, the founder and general partner at Innovating Capital, has shared his concerns about Ripple and its native token, XRP. In an interview with Yahoo Finance, he highlighted several fundamental issues with XRP’s decentralized ledger system.
Georgiades emphasized that while XRP operates on a decentralized ledger, Ripple Labs holds significant control over the network in practice. The company is responsible for selecting validators who process transactions and provides users with its default node list, effectively centralizing the network.
This level of control, according to Georgiades, weakens XRP’s position as a truly decentralized asset and makes it vulnerable to regulatory overreach. He warned that governments could exert control over transactions by targeting specific institutions or geographical regions, leading to a breakdown of trust, network forks, and ultimately, a loss of value.
In his opinion, this centralization could lead to more downside for XRP, as it would render the token less competitive compared to centralized systems.
Source: coinpedia.org
