Earlier this week, Alexavier Guzman unveiled XRP Symbol, an open-source quest to find a new logo for XRP — and assign it a Unicode-compliant currency sign.
Guzman explained in a Forbes op-ed that he was prompted to start the initiative after realizing that although XRP has an ISO 4217 currency code (XRP), it does not have a Unicode Standard symbol.
“The XRP Symbol is an open-source project that started after I realized that XRP was using an ISO 4217 currency code and not a symbol or currency sign. Other cryptocurrencies like Bitcoin were given a symbol that was added to the Unicode Standard, the symbol for Bitcoin is “₿”… I believe that XRP should be treated just like any other currency.”
Ripple has lent its approval to the effort and has encouraged its social media follows to contribute to the project.
— Ripple (@Ripple) May 10, 2018
However, the XRP Symbol project has another major goal: choose an XRP logo that is not identical to the one used by Ripple, the San Francisco-based company that issues and develops financial products that use the currency.
“Because XRP does not currently have its own symbol or logo, the currency is often associated with Ripple’s trademark,” Guzman wrote. “Because of this, many people believe that XRP is a product of Ripple, and even go as far as to call XRP ‘ripples.’”
Of course, the perception that XRP is a product of Ripple is based on more than just the logo, as the company is the chief issuer of the asset…