Ripple, for McCaleb the secret of cryptocurrencies is decentralization

Ripple, for McCaleb the secret of cryptocurrencies is decentralization. The founder of one of the best known digital currencies in the world spoke.

The co-founder of Ripple, Jed McCaleb, in a recent interview he stated that cryptocurrencies and the underlying technologies blockchain they need a decentralized network to be successful in the long term, because using a centralized financial payment network will result in "a system that is no better than SWIFT o PayPal".

"The real vision is to have a network, very similar to the Internet, in which anyone can participate" - he added McCaleb last Friday interviewed on the broadcast "Fast Money" of the CNBC, adding that "there is no central entity able to decide" and that "this is how this system can actually grow and achieve ubiquity".

McCaleb is the co-founder of Ripple, the third digital currency after market capitalization Bitcoin e Ethereum, but in 2014 he chose to separate from the original development team to focus on his Stellar project, precisely because of the different beliefs on how the system should have been managed.

"It is very difficult to knot outside ...Ripple Labs"McCaleb also said, recalling how the Ripple team manages most of the nodes, in a context that" should be of concern to people ".

"What we are trying to build in Stellar is an Internet-wide protocol" he also recalled, concluding that it would be important "that it be done by a non-profit entity: if you imagine an Internet created by a company that has the profit as a goal, it would be something very different ”.

Another key to Stellar's success, he added McCaleb, is to not limit the investor base to a few participants. "One of the things we are doing in Stellar is to distribute the underlying currency very widely" - he declares. Indeed, Stellar's XLM coins, known as Lumens, were among the top 10 cryptocurrency by market capitalization earlier this year, but then something went wrong: the currency lost ground, dropping 34% this year.

A few days earlier McCaleb had still told CNBC that the cryptocurrency and the underlying blockchain technology will change the way the banking system will develop in the future, adding that within the next 10 years, most of the activities, even non-cryptographic ones, will be digitized.