Ripple chief technology officer (CTO) David Schwartz says he is not a crypto maximalist and calls the current suit against the XRP parent company the result of ‘vague’ laws.
Speaking in an interview with David Gokhshtein, Schwartz explained that he did not believe in crypto maximalism, whereby one asset will come to dominate the industry.
He explained,
I’m not a maximalist. I think the technology is still very, very immature, and one of the things that worries me, particularly about maximalists, is that they’re kind of trying to get Bitcoin through and slam the door behind them or get Ethereum through and slam the door behind them.
Schwartz continued, saying he would not want Ripple to conduct a similarly definitive market grab with XRP. The CTO said he believes the company did “a lof of things right” with XRP, including making the marketplace better.
However, Scwhartz admitted there could be better projects on the horizon that could improve upon XRP and claimed he wanted to resist the impulse towards maximalism.
Schwartz was also asked about the US Securities and Exchange Commission’s (SEC) ongoing lawsuit against Ripple, which tanked the price of XRP over the last week.
The Ripple exec said,
It’s not that the laws are bad, it’s that they’re vague. And as I’ve said before, the United States seems to be one of the few countries where regulators will turn around to tell you, ‘Oh you should’ve realized what you were doing was illegal.’
Schwartz continued, saying the company was instead attempting to “find what the parameters were” rather than conducting illegal activity.
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