Ripple update: XRP’s deflationary aspect is negligible – Ripple Chief Risk Officer Greg Kidd
In this video, you can hear Greg Kidd, Ripple’s Chief Risk Officer, say in front of the Standing Committee for Banking, Trade and Commerce (members from the Canadian parliament) that the XRP transaction fee “would not have an impact on the XRP balance for several thousand years”.
So, this information should be of interest to all the people who think that XRP is going to gain any value because of the small amount of XRP that is destroyed with every transaction. “Several thousand years” is certainly exaggerated, especially if the amount of transactions on the XRP ledger increases exponentially over the years. But through this statement, we can learn more about Ripple’s long term strategy. XRP is not going to become a deflationary asset any time soon.
In fact, XRP is probably going to remain an inflationary asset for many years to come, which is also a good thing, as Galgitron has pointed out in one of this blogs: [http://galgitron.net/Post/Why-Ripple-needs-so-much-XRP](http://galgitron.net/Post/Why-Ripple-needs-so-much-XRP)
The rest of the hearing was also interesting and definitely worth listening to. The Canadian senators appeared to have a very positive view of Ripple.
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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