Ripple Executive: Criticism of Ripple as a Scam Stems from Competitive Environment

David Schwartz, Ripple's Chief Technology Officer (CTO), explained that the criticism of Ripple as a scam arises from the competitive nature of the virtual asset (cryptocurrency) industry.

On the 29th, CTO Schwartz shared this insight while participating in the Ripple Community Day on X (Twitter).

Specifically, he stated, "Some investors claim Ripple is a scam, but Ripple is already being used to solve real financial problems," emphasizing that "in the virtual asset market, there is a tendency to criticize other virtual assets to increase the value of their own holdings."

Meanwhile, this year's key development directions for the Ripple Ledger include ▲ building institutional decentralized finance (DeFi), ▲ supporting stablecoin and tokenized asset trading, and ▲ adding smart contract functionality. CTO Schwartz stated, "Ripple plans to continue its role in connecting traditional finance with the industry," adding, "Within the next five years, we will see the virtual asset market become more mainstream."