Ripple goes public: IPO for this year announced

Brad Garlinghouse, CEO of Ripple, says it’s only a matter of time before the Ripple will start an IPO.

At the annual Meeting of the world economic forum in Davos, Switzerland, said garling house before a panel, he expected that in the course of the next year, more companies in the crypto currencies listed on the stock exchange will develop, and Ripple will be at the “first digit” of a new Phase for the entire crypto-currency industry.

In the next 12 months, you will see IPOs in the crypto/Blockchain-area. We are not the First and not the Last, but I expect that we will be on the “leading side”… It is a natural development for our company.

Ripple has recently raised $ 200 million in a financing round series C, which has assessed the company with $ 10 billion. Garlinghouse also spoke about the leading crypto currency, Bitcoin (BTC) and the third largest coin by market capitalization, XRP.

Ripple has more than half of the total supply of XRP, and although Garlinghouse says that he sees Bitcoin as a store of value, a bright future, he spoke in favour of the speed and efficiency of XRP.

I am optimistic in relation to BTC as a store of value, but not for payments. You do not want to use BTC at Starbucks b/c until they get their coffee, then he will be cold…

We are here in Davos, where climate change is a big issue. One percent of the world’s energy consumption is accounted for by the Bitcoin-mining – is overwhelming. To run a Validator on the XRP Ledger is such as running a light bulb.

According to an Online Tool from the University of Cambridge, the Bitcoin network currently represents about 0.39 % of the total global electricity consumption. Square Crypto, which is in the possession of Twitter and Square CEO, Jack Dorsey, has recently announced plans for the release of the development kits for the Lightning Network, which runs on the Bitcoin network. The scaling solution should appeal to skeptics like garlinghouse, by making Bitcoin transactions faster, cheaper and more energy-efficient – good enough for a Cup of coffee.

Some Ripple-supporters see in this step, no real sense, as the company has raised enough capital and time to work (freely translated):

After the IPO, there is literally no Use for XRP. Not even in the case of price speculation. It will be useless.

Another said that the step is not only Ripple, Inc. to make early investors billionaires to. It is put in question, what is the company doing with the billions of XRP is under your control (freely translated): :

A Ripple-IPO – Now, this is incredibly disappointing to hear. What can you do with half a billion dollars in cash and another billion of XRP-fiduciary funds? The answer – make them billionaires of the early investors.

A further led (freely translated):

This is nothing more than a mechanism for wealth transfer, and I think it’s absolutely disgusting. There is no reason for Ripple to become a publicly traded company, you don’t need the resources. I expected more from this guy.

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