Ripple’s Chief Technical Officer, David Schwartz, takes to social media to debunk claims alleging XRP’s design as favoring the wealthy elite.
Schwartz also sheds light on the improbability of XRP’s susceptibility to hacking, stressing on the transparent and governed nature of the ledger.
In a recent social media storm, David Schwartz, Ripple’s Chief Technical Officer, vehemently dismissed claims accusing XRP‘s protocol of being structured to predominantly benefit the upper crust of the financial echelon. He was responding to allegations made on the X social media platform, where a user implied a centralized design in XRP’s protocol that allegedly fosters elite enrichment.
1.Does XRP really empower the top 1% who is controlling the main XRP system.
I’m not sure I understand this claim. The top 1% of what exactly? XRP empowers anyone who want to use the ledger to track the ownership and exchange of assets. What kind of control is he talking about…
— David “JoelKatz” Sc

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