Second-largest cryptocurrency ripple may have run ahead of itself

"The reason ripple is surging so much is it's

a

a bubble," said Erik Voorhees, CEO of digital asset exchange ShapeShift and a vocal advocate for bitcoin as a way to separate money and the state. "Testing crypto with banks doesn't make sense. The whole idea of crypto is you don't need banks."

It's "not interesting from a financial innovation perspective," Voorhees said.

Ripple is officially the name of a five-year-old start-up based in San Francisco that is developing a payments network for financial institutions. XRP is the name of the coin participants can use for transactions. The company announced in October that more than 100 financial institutions are using its network in some way. These include Bank of Tokyo-Mitsubishi UFJ, Mizhuho, Credit Agricole and Nordic bank SEB.

https://www.cnbc.com/2018/01/05/second-largest-cryptocurrency-ripple-may-have-run-ahead-of-itself.html