Pundit Claims That Ripple Is Building The Banking System Right On The Blockchain Using XRP

Both Ripple and XRP have been a topic of debate in the crypto community for years. However, recent discussions have reignited interest in its current and future role within the global finance ￰0￱ experts are now asking whether XRP is genuinely reforming the financial system or simply recreating existing banking structures on the ￰1￱ scrutiny, the cryptocurrency continues to have a significant influence on the cross-border payments ￰2￱ To Replicate Traditional Banking With XRP Market expert Xaif Crypto shared a video post on X social media, highlighting the views of Jeff Booth, a Canadian Entrepreneur and author best known for his bestselling book ‘The Price of Tomorrow.’ According to Xaif Crypto, Booth emphasized that XRP is essentially mirroring the existing traditional banking system rather than subverting ￰3￱ the video, Booth elaborates that traditional bank models rely on creating money through lending and charging interest—a system that has remained largely unchanged for ￰4￱ Canadian author noted that while the concept of decentralization and blockchain-based money transfer is promising, applying it within a closed, controlled system for governments and banks may undermine its transformative ￰5￱ analysis underscored the nuances in the ongoing debate over the purpose of ￰6￱ also stressed that not all participants in the crypto space are acting with ill intent, highlighting that some are genuinely attempting to innovate and transform the space .

Nevertheless, replicating traditional banking practices on a decentralized ledger raises both philosophical and practical ￰7￱ notes that if the blockchain merely reproduces a system based on perpetual interest and money creation, it may reinforce the very inequalities that decentralized technology was created to ￰8￱ commentary further suggested that while XRP may be a step toward modernizing banking infrastructure, it may not fully achieve the vision of a truly reimagined financial system that is decentralized and ￰9￱ As A Foundation For The Digital Era A contrasting perspective comes from crypto analyst Pumpius on X, who highlighted comments from Ripple CEO Brad Garlinghouse from years ￰10￱ to him, Garlinghouse asserted that XRP, along with Bitcoin, has the potential to surpass traditional assets such as gold and ￰11￱ gold, which has historically functioned as a long-term store of value, or diamonds, which rely on scarcity and luxury appeal, Pumpius stated that XRP is positioned as programmable money with global settlement ￰12￱ underscored that altcoin is not merely a speculative asset but a structural component of the emerging digital ￰13￱ enabling rapid, programmable transactions, Pumpius declared that XRP could serve as the backbone for trade, settlements, and identity anchoring for the digital ￰14￱ analyst’s vision frames the asset as the foundation of a new monetary order, where traditional assets face competition from digital ones designed for efficiency and integration into global finance rails.