Friday, April 12, 2024

Ripple Brushes Off Conspiracy Theory that Company Controls XRP Ledger.

ChatGPT, an artificial intelligence (AI) tool, has set adrift a conspiracy theory alleging that the XRP Ledger (XRPL) is secretly being controlled by Ripple. It said that while people could participate in the governance of the blockchain, Ripple has the ultimate control of XRPL.

The AI tool alleged that the ultimate decision-making power for XRPL lies with Ripple Labs. As such, the crypto firm can make changes even if those changes do not have the support of the supermajority of the participants in the network. ChatGPT also compared the XRPL with Bitcoin, saying that BTC was truly decentralized.

David Schwartz, Ripple CTO, called the bot’s logic into question. He said if it was like that, Ripple could secretly control the Bitcoin network as it neither can be determined from the code. Schwartz tweeted that if the AI’s argument is that Ripple Labs may have some secret way to control the Ledger that cannot be determined from the public code, why shouldn’t it argue that Ripple Labs may have some secret way to control the Bitcoin blockchain that cannot be determined from the code.

It should be noted that the bot contradicts its own statements, saying that the main reason for using a distributed ledger like the XRPL is to enable secure and efficient transactions without the need for a central authority. ChatGPT has been developed by OpenAI. It interacts in a conversational way. It answers questions about almost anything its asked. The AI bot can also complete tasks like creating and testing smart contracts.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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