In a recent interview, American technology entrepreneur / investor Kevin Rose talked about the early days of Californian company Ripple and XRP, in which he invested years ago, when he was a general partner at Google Ventures.
During an interview he gave TechCrunch’s Connie Coizos last week, Rose gave a rare insight into Ripple’s early days as the company tried to establish itself in the blockchain technology space.
When asked about cryptocurrency in general and Bitcoin in particular, he said:
“Yes, it is something I have a personal passion for … I believe it is still extremely difficult and is not popular enough to be used as currency.
“That said, I believe there is no doubt that the future of the currency is digital. If you were to create a new country today, you would not go out and start buying printing presses to create your currency; would emit something digitally.
“So there will be something that will come into existence that is expendable and easy to understand and is based on some type of blockchain technology. Like, there is no doubt that this will be the case.
“The problem is that 99% of the projects out there and a lot of the people behind them are in it just to make financial gains. And there is a lot of garbage out there. And this is unfortunate, because it really drags on high-quality projects and gets in the way of cryptography a lot ”.
Rose also talked about Ripple and XRP:
“When I invested in Ripple, that would be seven years ago, or something…
“There was a very different world when Ripple was taking off. And the emotion I had with Ripple was that the cryptocurrency was so raw; there was no way for the company to adopt it anyway.
“The start of Ripple reminded me of a company that could come in, set some standards and have these uptime guarantees, work with commercial banks and create a blockchain-based backbone…
“I never saw the use case for Ripple as a currency. I understood that it would be used as a way to deal with agreements in some way ”.
Finally, Rose spoke about the future of cryptocurrencies:
“It’s early. I think this will be a space that will continue to mature in the coming decades.
“There’s a good chance you don’t even know you’re using cryptocurrency …”