An artificial intelligence-powered chatbot created by OpenAI, ChatGPT, has alleged that the XRP Ledger, the native network of the $XRP token, is secretly controlled by fintech firm Ripple. The firm’s Chief Technology Officer David Schwartz has responded to the theory.
According to a Twitter thread shared by user Stefan Huber, ChatGPT’s AI has said that the XRP Ledger isn’t completely decentralized and alleged that while people could participate in its governance, Ripple has “ultimate control” over the network. Per the AI, Ripple has the “ability to make changes to the network and its operations,” even if these changes aren’t supported by a “supermajority of the participants in the network.”
When pressed on how Ripple could be under the control of the XRP Ledger while its code is publicly available, the AI alleged Ripple could have “abilities that are not fully disclosed in the public source code.”
Per the AI, the decision-making power for the XRP Ledger “still lies with Ripple Labs.” The AI contrasted it to the Bitcoin network, which it said was “truly decentralized.” Ripple’s Chief Technology Officer David Schwartz called the bot’s logic into question, asking why it wouldn’t argue that Ripple could have secret code to control the Bitcoin blockchain as well.
ChatGPT is an AI tool designed to interact “in a conversational way” and answer questions about almost anything a user asks. The bot has been used to complete various tasks, including creating and testing smart contracts.
XRP is the native token of the XRP Ledger and positions itself as a “fast and green” digital asset that was built “to be the most practical cryptocurrency for applications across the financial services space.” It offers fast transaction settlements, can handle thousands of transactions per second, and relies on hundreds of validators on its network.
Ripple is a for-profit company founded in 2012 under the name OpenCoin. OpenCoin rebranded to Ripple Labs in 2013, before settling on Ripple in 2015. The company’s involvement with XRP is “focused on building technology to help unleash new utility for XRP and global payments.”
Ripple promotes and uses the XRP token through its RippleNet product, which the company says offers connections to financial institutions worldwide and makes moving money “faster, cheaper and more reliable.”
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