David Schwartz’s Statement on Ripple and XRP

David Schwartz, chief technology officer at enterprise blockchain company Ripple, clarified that Ripple will not act in anyone’s interests to the detriment of its own or its shareholders’ interests.

Schwartz compared XRP tokens to art pieces in a follow-up post, stating:

> “If I hold a work from early in an artist’s career, I might hope or expect the artist makes and promotes new works that might drive demand and create markets for the early work and make me money.”

This clarification follows a statement by Pierre Rochard of Riot Platform, who argued that the XRP token is not a security since Ripple does not owe its holders any utility.

Bitcoin advocate Julian Fahrer remarked,

> “XRP has no enterprise, no reasonable expectation of profits (or anything else), and the only efforts are paying off K Street lobbying firms.”

Ripple’s Longevity in the Market

Schwartz noted that Ripple will remain active in the space for quite a while due to its vast number of XRP holders.

> “We have more XRP than we could possibly monetize in a short period of time, so there’s no way to avoid us being here for quite a bit longer,” Schwartz stated.

As reported by U.Today, Ripple CEO Brad Garlinghouse confirmed that the company owned over $100 billion worth of XRP tokens as of early January.