Here’s How XRP Can Become Stablecoin, Explains XRPL Lead Developer

Wietse Wind, lead developer of the XRP Ledger and Xumm Wallet, said in an exchange with one of his followers: clearly A theoretical scenario in which XRP could become a stablecoin. Wind’s concept follows in the fashion of Michael Saylor and Changpeng Zhao by stating that 1 XRP is directly equal to 1 XRP.

A Stable XRP World

In fact, there are two scenarios suggested by the developers, both of which are fairly impossible by themselves. The first assumes that all on/off ramps and centralized and decentralized cryptocurrency venues only sell XRP Against a fixed amount of fiat currency. Wind rejected it on the grounds that there are too many cryptocurrency platforms.

I think the only hypothetical way is for stores and people to start pricing goods and services at a fixed XRP value. This only works if vendors, employees, and everyone do the same. never happens.

WietseWind – XUMM @ XRPL Labs (@WietseWind) December 29, 2022

The second scenario sounds even stranger. It assumes that businesses and people will begin to value goods and services at a certain price. XRP worth. Clearly, such a development would require a global consensus, which is highly unlikely.

However, the developer’s basic thesis that 1 XRP is equal to 1 XRP was about a more practical issue. Wind, for example, argues that when XRP first comes into contact with the world outside the “live” XRP network, it will have equivalent value in dollars or foreign exchange.

Because the equivalent price of XRP is determined by dollars or supply and demand, and the price people are offering is volatile. XRPthe developer summarized.