White House to Pit #XRP Against Bitcoin Fearing China’s Mining Dominance

October 17, 2018

 

The U.S. administration is interested in pitting Ripple’s centralized XRP token against Bitcoin to tackle China’s crypto dominance. Cory Johnson, Ripple’s new chief marketing strategies, told Breaker Magazine that the White House is researching the consequence of China’s Bitcoin mining dominance, which currently amounts to over 80 percent. The digital currency’s mounting popularity among millennials and professional investors in the U.S. has led the Donald Trump government to explore its potential. Realizing that breaking the Chinese mining companies’ hegemony would be difficult, the U.S. administration thinks it would be better to introduce a competition to limit Bitcoin’s exposure in the country. “When I started to meet with people in government and regulators, I had very low expectations. I have been truly amazed at the open-mindedness, number one,” recalled Johnson. “And number two, the smart questions, sometimes even tough questions. There’s clearly a lot of homework going on. The White House, in particular, seems to be thinking about what it means to have 80 percent of Bitcoin mining taking place in China and a majority of Ether mining taking place in China.”

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About Ripple's (XRP): Built for enterprise use, XRP offers banks and payment providers a reliable, on-demand option to source liquidity for cross-border payments. Using XRP, banks can source liquidity on demand in real time without having to pre-fund nostro accounts. Payment Providers use XRP to expand reach into new markets, lower foreign exchange costs and provide faster payment settlement. XRP consistently handles 1,500 transactions per second, 24x7, and can scale to handle the same throughput as Visa. XRP's five-year track record of stable technology and governance makes it ready for institutional and enterprise use.

 

Ripple’s (XRP) can be bought with fiat dollars, debit and credit cards on cryptocurrency exchanges such as CEX.io and Changelly.com  and it can be bought with cryptocurrency on exchanges such as CoinExBinance, and HitBTC.

 

Click here to buy and sell Ripple at up to 50x leverage

 

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