Few projects in the crypto market have sparked as much debate and intrigue as XRP. While XRP is often tied to banking and financial institutions, particularly in the context of cross-border payments, some still debate its original purpose.
This is particularly evident in a recent discussion prompted by Crypto Eri (@sentosumosaba), a well-known figure in the space who shared an image from the early days of Ripple, asking the community about XRP’s initial use case.
The image from Ripple Labs, dating back to 2013-2014, highlights a campaign that distributed XRP in exchange for computing power that contributed to scientific research. This early initiative stands in stark contrast to the asset’s current association with banking and finance, suggesting a broader and more altruistic vision in its inception.
Community Speculation on XRP’s Initial Purpose
Panos Mekras, co-founder of Anodos Finance, responded to Crypto Eri’s query, noting that the original use case involved “donating computing power to scientific research,” which he described as essentially “mining” XRP. This comment was approved by Crypto Eri, who commended Mekras for his sharp insight.
Mekras’ observation is particularly compelling as it reflects a time when XRP was seen as a tool for incentivizing community participation in computing, much like traditional mining but with a philanthropic twist.
Another user in the discussion pointed out that the original vision of Jed McCaleb, one of Ripple’s co-founders, might have been to develop “a better Bitcoin.” Crypto Eri responded, adding Chris Larsen, and Arthur Britto to the list, highlighting all Ripple’s co-founders as sharers of this vision.
Interestingly, another community member replaced Britto’s name with Ripple Chief Technology Officer David Schwartz, who has been instrumental in XRP’s growth but does not share the co-founder title.
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While Bitcoin was designed as a decentralized currency free from the control of any central authority, Ripple’s creators sought to address some of the limitations they perceived in Bitcoin’s architecture. This included faster transaction times and lower fees, making XRP more suitable for everyday use and potentially opening it up to a wider array of applications.
One user suggested that the community should directly ask Schwartz about the original intention behind the creation of the XRP Ledger. This user highlighted that while the goal was to create “a better Bitcoin,” there was some ambiguity in what that truly meant. The original intention likely was to combine all these elements, building a technologically superior digital asset capable of addressing broader societal needs.
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