Ripple update: A question about Ripple the company can do
Hey everyone, I’ve been thinking for a while about the recent news in regards to SWIFT, America’s sanctions on Iran, and how Ripple fits into the global money movement.
Now I know Ripple the company CANNOT control the xrp ledger. And let’s say Ripple, using Ripple technology replaces some of SWIFTS partnerships and is seen as a better cheaper newer SWIFT. Now, here is the question, to what extent could the US government pressure Ripple to “turn off” its partnerships with say, Iran? SWIFT can prevent money transfer from the country, so if Ripple tech replaced SWIFT, could we still see ripple’s arm being twisted until they agree to suspend transactions going through that country as well? They couldn’t stop them from using XRP I know. But what about preventing them from using their services, such as xcurrent, xvia, and xrapid? Unless the Iranian government already had it’s own onramps to the xrp markets, as well as already owning a sizable amount of XRP, isn’t there still some US control on money movement as long as Ripple is headquartered in America?
I’d love to hear your thoughts on this and whether or not America could still put sanctions on other countries.
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
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