Home Tech Is this a ploy to support the centralized Ripple (XRP)?

Is this a ploy to support the centralized Ripple (XRP)?

405
SHARE

Ripple (XRP) – The crypto market is in the red after Google announced that it would be banning all crypto related adverts by June. This follows closely in Facebook’s footsteps, which made a similar announcement a few months ago. The two companies argue from the point of protecting users, but is that really the case?  After banning cryptos, Facebook founder came out arguing that he intends to study blockchain more closely and understand how they can integrate it into their systems. He also started calling for regulations.

Google is taking a similar stand on cryptos. The company is calling for more regulation in the crypto industry, while it implements this ban. This then begs the question, are these companies looking to launch their own cryptocurrencies once the market gets regulated?

It could be, but there is another player in this picture, and that’s Ripple (XRP). When the SEC announced the need to regulate the crypto market, Ripple was very quick to support the same. This could be an indicator that Facebook and Google may not launch their own cryptos after all. They could be preparing to adopt Ripple as their crypto of choice! The three technology giants agree on one thing, and that’s the issue of regulations.

This could be a scheme to try and control cryptocurrencies, by weakening the rest of the market and uplifting the more centralized Ripple (XRP). It could be that these companies see cryptocurrencies as a threat and want to elevate a more centralized crypto, one that they are fully in control of.

You are probably wondering, why would such highly profitable tech giants be afraid of decentralization? Well, the answer lies the nature of their business. These companies are in the business of information. Facebook and Google control most of the information on the internet, and can control how you interact with it. That’s why the two have become central components of the political debate especially in the developed world. They have the power to control who has the right to be heard and who doesn’t.  But this is power that is no longer guaranteed with the rise of decentralized blockchain platforms. That’s because in a decentralized world, it is the people who determine how information is aggregated and disseminated, and in the process giving power to the content creators.

Take a platform like Dtube for example. This platform gives content creators the chance to air whatever content they have, and get rewarded for it. In other words, anyone can create and monetize content. That’s quite different from Google’s YouTube, which is trying to control content creators, while denying them to sustainably monetize their content. Therefore, it is not hard to see why a company like Google would try and weaken decentralized platforms in favor of its own centralized crypto, or for an established centralized crypto like Ripple (XRP).

For believers of crypto to overcome this, they need to use decentralized projects more and support them. Blockchain is being fought because it is revolutionary and decentralizes power. If people can keep supporting their favorite projects, the market will rebound. The long-term benefits of total freedom are worth the short-term hurdles.

Source: cryptorecorder.com