Ripple CEO: We Have Obligations in Solving Political Issues
United States -Ripple’s CEO, Brad Garlinghouse, announced that the company does not plan to follow Coinbase’s plan regarding banning politics from the workplace. Coinbase hit the headlines last month after writing a blog post announcing its rules and regulations of non-engagements on political and social issues.
According to Armstrong, he does not want to debate causes or political candidates internally or engage with unrelated situations to their goals and missions. Armstrong also added that the company would have an apolitical culture and focus more on making profits and advancing crypto and Coinbase’s services.
After rejecting a CNBC interview, Ripple CEO Brad Garlinghouse claimed that, in his opinion, tech companies have obligations toward solving societal and political issues. Ripple’s mission is to seek positive outcomes for society and bring better values to people. Companies that promote a better and convenient society should lean into being part of the solution. However, Coinbase declined to comment on Garlinghouse’s opinion.
According to some reports, Coinbase has offered severance packages to its employees wanting to resign or quit the company over its new work culture. About 5% of Coinbase’s staff took the offer and quit jobs. On the other hand, Ripple continuously promotes corporate activism and offers employees paid time off to volunteer and vote in the upcoming presidential election.
With a strong commitment to a better future, Ripple’s XRP remains one of the market’s biggest cryptocurrencies. It paves a new way for millions of people to experience faster and safer money transfers. Since this digital platform is open-source, it enables quicker and cheaper processes compared to banks. According to Ripple’s CEO, they will continue to save time and cost issues with traditional settlement systems, such as SWIFT and PayPal.
Thanks to technology’s great scalability, Ripple can process up to 1,500 transactions per second. To prove this point, TechCrunch’s founder, Michael Arrington, reportedly sent $50m (£39m, €43m) in XRP, and the transfer time only took two seconds and only cost him 30 cents for the processing fee.
Indeed, Ripple’s primary objective is to create a payment system that can facilitate fund transfers in international and domestic markets. Although it is unclear what Ripple is working on for the next years, investors will surely run to exchanges and participate in Ripple’s mission towards a better future. Ripple assures the public that the company will continuously promote corporate activism and become a part of societal solutions.