The Value of Math-Based Currencies

But what we believe w- what will happen is that most market makers

in filling out the world of exchanging value from anything of value,

again, currencies, um, merchant reward points, airline

miles, gold, silver, anything that you define as value,

most people will actually, uh, most market makers will use XRP.

Because as a currency without a counterparty,

it is a completely unique thing in

the protocol, just like Bitcoin is completely unique.

Um, so again, our, our view of why math-based currencies

are so valuable isn't

necessarily that they replace existing currencies.

It's just that they have a very unique feature in that they have no

counterparty. So the whole world-- The, the world only has to think about one

thing

when it comes to Bitcoin or Ripple, is the, the price in any s- any

microsecond in time. You never have to think about counterparty

risk.

It turns out that that is a completely unique thing that's never

existed before.

So for-- Why is that important? Um-