Jed McCaleb – Blockchain Needs To Be Decentralized To Succeed

Cryptocurrencies and the blockchain technology that power them need a decentralized network to be successful in the long run, said Ripple co-founder Jed McCaleb.

Speaking at CNBC’s Fast Money, McCaleb said that the only other successful decentralized network he has ever seen is the Internet. The founder of Stellar and Mt. Gox stated that the deployment of a centralized financial payment protocol in crypto would take us to “a system that is no better than SWIFT or PayPal.” He continued his Internet and Blockchain comparison, saying:

“The real vision is that you have a network, much like the internet, that anyone can participate in […] That’s the key thing to make these things successful.”

Earlier this week, McCaleb said that ““In the future, I think it’s pretty clear to me there will be a universal payments network that will operate.” Then, he said that “In the next 10 years I wouldn’t be surprised if all equity isn’t tokenized on some blockchain somewhere.”

Stellar Lumens (XLM), the platform that McCaleb created after he left Ripple, has reached the top positions among the most capitalized currencies, after which followed a considerable decline. However it is still in the eighth position behind CARDANO and EOS. The value of the lumens today is $ 0.232620 down by about 3% compared to yesterday, the market capitalization is $ 4,314,854,800.

Ripple remained firmly in third position behind Bitcoin and Ethereum, for a short period at the end of 2017 Ripple had exceeded the capitalization of Ethereum becoming the second most important cryptocurrency. Its price reached a maximum of 3.02 USD,  followed then by the decline in the market that involved all assets, including Ripple XRP, which brought its value back to today’s current price of about $ 0.63

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