Categories: Bitcoin News

Bitcoin is controlled by China: Ripple’s Brad Garlinghouse

exc-5b2271c82b6a28633981696d

“This is underreported, but worth paying attention to. Bitcoin is really controlled by China…How do we know that China won’t intervene? How many countries want to use a Chinese-controlled currency? It’s just not going to happen,” says Garlinghouse, who has been busy of late lashing out at the mother of all cryptocurrencies, while praising his XRP as the messiah of tokens.

“Bitcoin is not the panacea we thought it would be,” Garlinghouse states. XRP is more efficient and is “the best digital asset for settlement” because transation times are as little as four seconds, which will make Ripple more attractive to mainstream banks. Bitcoin’s average transaction time is 45 minutes, he claims.

BTC’s and XRP’s underlying technology, blockchain, “will not disrupt banks, although it will play an important role in the way our system works,” he adds.

Olivier Acuña

Olivier has been writing for over 30 years. He has been based in six countries working for major news outlets including the Guardian, UPI & AP. He has covered massive earthquakes, presidential elections, immigration, and taken photos standing in the middle of shootouts between drug cartels, gone undercover to investigate organised crime, interviewed presidents, former presidents, heads of international organisations.