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Ripple: The New Face of Finance According to Wall Street!
10:00 ▪ 3 minute read ▪ by Eddy S.
In a recent “Good Morning Crypto” podcast, Wall Street analyst Linda Jones shared a bold perspective. She suggests that Ripple could play a role similar to the Federal Reserve in the emerging financial system. This statement comes amid the BRICS coalition’s efforts to break away from the dollar standard and its potential impact on the U.S. economy.
Cryptocurrencies: Will Ripple Replace the Federal Reserve?
On the “Good Morning Crypto” podcast, Jones highlighted that the BRICS coalition is not opposed to the United States, but rather to central banks and the dominance of a single currency that controls the world. He also highlighted the coalition’s opposition to the FED’s control of the global economy through the U.S. dollar. According to Jones, a new American currency could emerge, potentially backed by gold or other activities.
He advocated for a financial system backed by real assets, stressing that the world needs to move away from the fiat banking system that relies on the dollar. Jones recommended a transition from a trust-based system run by central banks to a truth-based system characterized by transparency. He also made it clear that this change would not mean a failure for America, especially since Ripple, an American company, is at the forefront of this new system with the cryptographic blockchain XRPL Ledger.
A lesson from the past?
Jones’ proposal highlights the importance of transparency and accountability in the cryptocurrency industry! This topic is even more relevant when considering the history of the MT. Gox exchange. In 2014, the exchange suffered a massive hack, resulting in the loss of hundreds of thousands of bitcoins, and filed for bankruptcy shortly thereafter. The downfall of MT. Gox was a painful lesson in the security risks and consequences of opaque management in the cryptocurrency space.
Linda Jones’ analysis of Ripple and the comparison with the FED highlights the need for a more transparent and accountable financial system. The story of Mount Gox serves as a reminder that to avoid repeating the mistakes of the past, the cryptocurrency industry must adopt safer and more open practices—a goal that Ripple appears poised to achieve.
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Eddy S.
The world has evolved and adaptation is the best weapon to survive in this wavy universe. Community manager of basic cryptocurrencies, I am interested in everything that concerns blockchain and its derivatives, whether close or far away. With a view to sharing my experience and making known a sector that I am passionate about, nothing better than writing informative and non-contractual articles at the same time.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Do your own research before making any investment decisions.