Jed McCaleb, the co-founder of Ripple (XRP) and Stellar (XLM), as well as the creator of the infamous Mt. Gox cryptocurrency exchange, claimed that cryptocurrency and its underlying technology, Blockchain, should remain decentralized in order to succeed in the future, CNBC reported Friday, March 23.
In an interview on CNBC’s Fast Money, McCaleb said that the only other successful decentralized network he has ever seen is the Internet. In a fairly open critique of Ripple – a payment protocol company he co-founded in 2013, but has since left – McCaleb stated that the deployment of a centralized financial payment protocol in crypto would lead to “a system that is no better than SWIFT or PayPal.” He continued his Internet and Blockchain comparison, saying:
“The real vision is that you have a network, much like the internet, that anyone can participate in […] That’s the key thing to make these things successful.”