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XRP is Centrally Controlled by Ripple – Says Bank of International Settlements (BIS)


yxxyun
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https://coingape.com/xrp-centrally-controlled-by-ripple/

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The ghost of centralization is not ready to leave Ripple and its token XRP. The bull run that skyrocketed the XRP prices by over 100% last week, seemed to drive the centralisation issues away from the coin. But that was pretty short-lived as now the latest research published by Bank of International Settlements (BIS) has termed XRP’s network of trusted nodes are controlled by the Ripple.

UNL, the list is controlled by ripple, but the nodes are not.

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The report actually says:

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The XRP token also react less, which may reflect that its network of trusted nodes is centrally controlled by its issuer Ripple, making the XRP token distinct from other, permissionless, cryptocurrencies.

https://www.bis.org/publ/qtrpdf/r_qt1809f.pdf

There is no discussion about the details that underline this statement so it's difficult to understand precisely what they mean. It seems ambiguous at best and confused at worst. Nevertheless, the 'news' site has spun it as negatively as possible.

 

 

 

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4 minutes ago, OzAlphaWolf said:

The report actually says:

https://www.bis.org/publ/qtrpdf/r_qt1809f.pdf

There is no discussion about the details that underline this statement so it's difficult to understand precisely what they mean. It seems ambiguous at best and confused at worst. Nevertheless, the 'news' site has spun it as negatively as possible.

 

 

 

That news site needs to go **** itself. Haha they really ticked me off with this one

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First...from their website

"Established in 1930, the BIS is owned by 60 central banks, representing countries from around the world that together account for about 95% of world GDP"

Then you look at the "members"...all central banks that have NO intention of letting crypto take over...

So...how unbiased can this report be whatever it says...I won't even take time to read it.

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I am sure Ripple would love if every central bank was involved in running nodes along with Universities and major corporations. It's a little short sighted to judge a network just getting off the ground and needing some sort of central control to protect and guide it till it stands on its own. BIS has a great opportunity to get involved in shaping the future instead of just fighting it. 

At the very least Ripple has a clear road map and could somewhat be held accountable for a steady path towards almost zero involvement by major governments inexchange for growing the network securely. . 

Edited by keybordem
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On 9/26/2018 at 3:00 AM, yxxyun said:

https://coingape.com/xrp-centrally-controlled-by-ripple/

UNL, the list is controlled by ripple, but the nodes are not.

“The XRP token also react less, which may reflect that its network of trusted nodes is centrally controlled by its issuer Ripple, making the XRP token distinct from other, permissionless, cryptocurrencies”

We should all be very happy that the UNL list is controlled by Ripple. This is providing the quality assurance which is needed for the whole network to run smoothly. Just imagine some amateurs running validators and destabilizing the network....

Edited by cryptoxrp
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