David Schwartz Says He Remains Loyal to Ripple Labs


David Schwartz, Ripple’s Chief Technology Officer and a prominent figure in the development of the XRP Ledger has laid to rest questions about his loyalty to the broader XRP ecosystem. David noted that his loyalty is hinged on his personal and professional values.

Ripple CTO Will not Compromise His Values 

According to a tweet post where he recounted how he came to be hired as Ripple’s CTO, David noted that his allegiance is solely to his employer – Ripple Labs. Schwartz joined Ripple Labs after an invitation from co-founder Chris Larsen on account of his loyalty. He has since pledged to remain loyal to the firm as long as it continues to earn his loyalty.

In response to worries regarding possible conflicts of interest due to his significant investment in Ripple stock, Schwartz stressed that his allegiance is not driven by financial motives. He restated his dedication to transparency and ethical behavior, stating his willingness to distance himself from Ripple if his values are compromised.

Schwartz Regrets Picking Ripple Stock Over XRP Token

Even though he owns 2% of the company’s stock Schwartz has tagged his choice of the stock over XRP tokens as a big mistake seeing that he is yet to become a billionaire. In contrast to Schwartz other executives of the firm including Chris Larsen, Arthur Britto, and Jed McCaleb who opted for XRP have a combined total of 20 billion XRP between the trio.

Meanwhile, Schwartz sought to elucidate Ripple’s operational strategies and their influence on the market dynamics of XRP. His clarification was important at the time when Ripple was advancing its payment services in the United States, aiming to transform cross-border transactions within the country. 

Ripple CTO Emphasizes XRPL’s Value

Recall that in February, David Schwartz passionately defended the XRP Ledger against a critic’s claim that it operates as a “zero-sum game.” The Ripple executive engaged with the critic to dispel misconceptions and highlight the intrinsic value and utility of the XRP Ledger. 

He countered the criticism by explaining the fundamental operations of the XRP Ledger, portraying it as a platform facilitating the seamless transfer of XRP and issued assets. Also, David emphasized that the XRP Ledger is not solely a tool for transferring value but a sophisticated platform supporting various financial activities. 

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