Ripple update: How does Ripple company have the ability to change the name and logo of the asset, if it’s not their asset to control?
The whole argument that XRP token isn’t a security of Ripple company is that they were gifted a bunch, and that they have no control over the asset itself besides for what they hold.
I feel like they just shot themselves in the foot by demonstrating their ability to change the main name of the token to XRP (rather than just the ticker) and it’s logo, pretty much industry wide.
No single group has the ability to change Bitcoin’s name or logo. If the programmers at Blockstream tried to rename it to something like BlockstreamCoin and change the logo to a skull and crossbones, the industry would probably reject it and keep calling it Bitcoin (I don’t know this for certain, but it seems like common sense for a “decentralized” asset).
How can Ripple company control the name and logo of the asset, while simultaneously claiming they have no control over the asset itself?
For the record, I am a hodler and I want whatever is best for XRP, but I feel this is a step backwards when it comes to getting a “not-a-security” ruling from the SEC.
As for what should happen, obviously I think the asset should have stayed with the original logo, name “Ripple” and ticker “XRP”. Ripple the company should either revert to their former name “Ripple Labs” or just completely rebrand the company, which IS in their control as opposed to XRP which supposedly is not.
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.
Author: QBcrusher
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