Ripple’s CEO, Brad Garlinghouse, has participated in a recent interview with CNN, where their topic mostly revolved around Ripple’s progress with its partnerships with other companies and exchanges. In the interview, he specifically spoke about the Flare Network project.
Xpring, with support from Ripple’s investment arm, is a project that aims to increase the interoperability of Ripple and several other XRP use cases. Thus, Flare Network will be implementing the Turing Complete Federated Byzantine Agreement (FBA) protocol.
The Ripple CEO had a few things to say about the possibilities with Flare Networks:
He thinks that the Flare Network is an exciting startup. He says that they are doing some very exciting stuff, especially with regards to spark tokens. He also notes how different it is from what Ripple is doing.
“To me, it’s just a further example of the people’s recognition that XRP is such an efficient digital asset, and as you and I have already talked about, the utility will drive the long-term value of any digital asset,” he added.
Garlinghouse also talked about how much of an opportunity it brings Ripple to have a company like Flare Network that is using the XRP network in different ways, especially moving forward. However, he said that RippleNet customers wouldn’t be affected by how they are using ODL (On-Demand Liquidity) for their customers.
In addition, Flare Network will allow for smart contracts that will be implemented using Ethereum’s virtual machine. Flare will also use the XRp address and its encryption system to allow for a “near perfect” way for the decentralized protocols and the network to interact.
The CEO sees the talent and vision that Flare has in the problem Flare Network is trying to solve. Garlinghouse further added that he thinks the excitement of XRP holders is well deserved because of what Flare is doing, and the company is as well. He thinks the niche that Flare Network has carved out is interesting, especially as it moves forwards with its airdrop of Spark tokens, and is optimistic for them.
In the same interview, Garlinghouse also neither confirmed nor denied whether payment giant Western Union is one of Ripple’s clients. He chose instead to evade this question and quoted their policy about revealing their client’s identities until they are comfortable with making the information public. Regardless, this response has caused further hype and excitement for the XRP community.