The head of the Ripple spoke about the salaries of employees and the fate of the lost XRP
Online publication Quartz in his weekly newsletter Quartz Private Key has published a short interview with brad Garlinghouse, CEO of Ripple. He reportedly owns 6.3 percent of the company and a nine-digit number XRP — digital asset used on a platform called xRapid. Arlinghaus came to Ripple as chief operating officer in April 2015; before that, he was President of consumer applications at AOL and senior Vice President Yahoo. On the sidelines of the conference, Swell, Ripple which held last week in San Francisco, he spoke with journalist Matthew Quartz De Silva.
Quartz: In the last few weeks the price of XRP has increased dramatically. C what do you communicate?
Arlinghaus: Speculation on what moves the stock market, is a dangerous game. There are times when something happens (I’m not just talking about XRP), I think, “Oh, it’s not good for X”, but nothing changes. Or something happens, I think, “Oh, that’s very good for X”, but nothing changes.
In General (I’ve already publicly stated) long-term value of any digital asset arises from the usefulness of the purpose for which it is used. If 100% of the digital asset is associated with speculation, it will not last long.
Quartz: Will XRP be used for anything else, except for the calculations?
Arlinghaus: I think that XRP is extremely effective for payments. Partly because of how we apply it in the Ripple in the context of institutional liquidity (for example, xRapid).
Coil company has made several announcements applications XRP in micropayments. Another event that attracted a lot of attention, is the statement of representatives of Omni, a marketplace lending and storage assets. They also talked about plans to use XRP for payment.
Quartz: it Seems that the system xRapid insufficient liquidity.
Arlinghaus: But liquidity begets liquidity. If you start to spend more payments between XRP and the Mexican peso, there will be many market makers who want to create such markets. It is interesting now to remember the numbers on Bitso (the only exchange where there are a couple of MXN/XRP) and the year to compare how you will feel this pair.
If next year will still be $600 000 per day — an impressive work to say don’t have. But if the figure of $6 million is probably a huge increase in volume is due to a real utility, not speculation.
Quartz: What percentage of Ripple employees receives a salary in XRP?
Arlinghaus: I should clarify the team’s finances. I am sure that from 10 to 25% is obtained in the XRP part of their salary.
Quartz: If a large holder of XRP will die, what will become of his tokens?
Arlinghaus: It depends on the details of the situation, from how the keys are kept secret. There are several large holders of XRP. Theoretically, their inventories can disappear.
Quartz: If the XRP will be frozen or lost, what will be the Ripple? Would the company unblock or move these tokens?
Arlinghaus: We can’t do that! It is important to understand that the company does not control the Ripple XRP registry. It’s mathematically impossible. We can’t control the registry.
Quartz: What happens when the XRP are being lost over time?
Arlinghaus: the Quantity is only slightly reduced, the same thing is happening in the bitcoin community.