XRP: A Centralized Stablecoin in Disguise?
As XRP secures deals with governments and SWIFT, its primary focus appears to be price stability rather than appreciation. With 100 billion pre-mined tokens and 50 billion released gradually, XRP functions more like a centralized, traceable stablecoin than a traditional cryptocurrency.
Why Price Stability Matters
If the U.S. government were to purchase $10 billion in XRP for international payments, a sudden price surge could force bulk sales to maintain stability. By the time the recipient cashes out, XRP’s value could drop significantly—a scenario that mirrors the behavior of USDT or USD rather than an asset designed for appreciation.
XRP’s Unique Control Features
One of the most surprising aspects of XRP is its ability to reverse transactions to prevent fraud or errors, reinforcing its role as a fully traceable exchange currency.
The Bigger Question: What About Crypto’s Original Purpose?
Cryptocurrency was initially created to enable untraceable transactions, bypassing oversight from entities like the CIA, FBI, KGB, and tax authorities. If full traceability becomes standard, it could fundamentally alter the crypto ecosystem, challenging its decentralized and permissionless nature.
Is XRP revolutionizing global payments or undermining crypto’s core principles? That’s the real debate.