10h00 ▪
3
min of reading ▪ by
In a recent podcast “Good Morning Crypto,” Wall Street analyst Linda Jones shared a bold perspective. She suggests that Ripple could play a role similar to that of the Federal Reserve in the emerging financial system. This statement comes in the context of the BRICS coalition’s efforts to break away from the dollar standard and its potential impact on the American economy.
Crypto: Ripple to replace the Federal Reserve?
In the podcast “Good Morning Crypto,” Jones highlighted that the BRICS coalition is not opposed to the United States but rather to central banks and the domination of a single currency that controls the world. She also emphasized the coalition’s opposition to the FED’s control of the global economy through the US dollar. According to Jones, a new American currency could emerge, potentially backed by gold or other assets.
She advocated for a financial system backed by real assets, noting that the world must move away from the fiat banking system that relies on the dollar. Jones recommended a transition from a trust-based system managed by central banks to a truth-based system characterized by transparency. She also clarified that this change would not spell failure for America, especially since Ripple, an American company, is at the forefront of this new system with the XRPL Ledger crypto blockchain.
A lesson from the past?
Jones’ proposal highlights the importance of transparency and accountability in the crypto sector! This topic is even more pertinent when considering the history of the exchange platform MT. Gox. In 2014, the exchange suffered a massive hack, resulting in the loss of hundreds of thousands of bitcoins, and declared bankruptcy shortly thereafter. The fall of MT. Gox served as a painful lesson on security risks and the consequences of opaque management in the crypto space.
Linda Jones’ analysis of Ripple and the comparison with the FED highlight the need for a more transparent and accountable financial system. The story of MT. Gox serves as a reminder that to avoid repeating the mistakes of the past, the crypto industry must adopt safer and more open practices. An objective that Ripple seems ready to achieve.
Maximize your Cointribune experience with our ‘Read to Earn’ program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.
Click here to join ‘Read to Earn’ and turn your passion for crypto into rewards!
Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
