Chris Larsen’s Vision for Cryptocurrency
On a recent episode of the “When Shift Happens” podcast, Chris Larsen, co-founder of Ripple, shared his vision for the cryptocurrency space, describing his initiative to enhance the original concept of Bitcoin. According to Larsen, he collaborated with a team of exceptionally talented individuals who aimed to design an improved version of Bitcoin, focusing on creating a decentralized digital currency that would consume less energy and exhibit faster transaction speeds.
The Impact of Bitcoin
Larsen acknowledged the impact of Bitcoin, referring to its development as an “incredible revolution” and emphasizing that its conservative nature has contributed significantly to its success. Despite acknowledging the potential for enhancements in Bitcoin’s structure, he argued that its fundamental caution is a vital attribute in the dynamic world of digital currency.
Critique of Unstable Projects
In stark contrast to this, Larsen criticized projects that exhibit instability and unpredictability, implicitly targeting Stellar, which infamously reduced its XLM supply by more than 50% in 2019. He remarked on the chaotic nature of such decisions, saying,
“It’s chaotic. It’s like the opposite of what any currency in the world kind of strives to be successful.”
Community Resilience
He also expressed admiration for the XRP community, labeling it as “amazing” and “incredible,” while casting doubt on Ethereum’s community resilience.
“They stood through the project through thick and thin just like the Bitcoin folks. Is that going to be the case with the Ethereum community? We’ll see,”
he remarked, hinting at the uncertainties surrounding Ethereum’s future.
Challenges of Going Public
Additionally, Larsen touched on the increasingly bureaucratic nature of going public in the United States, which he believes poses several challenges for companies like Ripple. He expressed concerns regarding short sellers, who he claimed could disseminate misinformation to manipulate stock prices downward. This commentary underscores the hurdles that companies in the cryptocurrency space face when considering a public offering. Notably, Ripple’s President, Monica Long, had previously indicated that the company has no immediate plans to pursue public listing.
