Ripple says the era of Bitcoin maximalism is over

It is entirely obvious that Bitcoin will not remain the only cryptocurrency, and the era of maximalism toward it has passed, says Ashish Birla, the general manager of RippleNet.

“I think the days when people believed that only Bitcoin would remain are over. It is clear that there will be many digital currencies, and even more tokenized traditional assets,” he said during a podcast on Lend Academy.

According to Birla, the first cryptocurrency cannot serve as a viable means of payment, but it is indeed viewed as an ‘innovative alternative to gold’.

He sees Ripple’s XRP token as a conduit to a more efficient global payments system.

He said the company will continue expanding the use of the On-Demand Liquidity (ODL) payment solution built on RippleNet worldwide in those countries where regulators approve.

Following the launch of a lending service in XRP for RippleNet clients, the firm plans to offer new products. The first will be solutions for e-commerce, Birla said.

He said that central bank digital currencies (CBDCs) have nothing to do with blockchain, and proposed RippleNet services to connect these centralized assets into a single network.

Earlier, Ripple CEO Brad Garlinghouse stated that Bitcoin is an excellent store of value, while XRP is more convenient for payments.

At the end of 2019, Garlinghouse predicted the disappearance of 99% of cryptocurrencies.

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