Following Joe Biden’s success in the election, Ripple CEO Brad Garlinghouse expressed willingness to align with the President-elect policies.
He said that it concerns the environmental policies that the president-elect is going to be conscious of. With the previous administration reckless about the ecological issues, Garlinghouse will align with an administration’s policies more aware of the problem.
Garlinghouse also predicted that the first steps that Biden will take in the office are to demand greenhouse-gas producing activities disclosure from the publicly traded companies.
He says that firms converting cash to Bitcoin are mistaken as the more environmentally conscious Biden administration takes the White House in January.
Ripple CEO eager to sustain the environment
Now, Ripple will be more concerned about the highly debated “sustainability of money” narrative as Biden prepares to be the president. The money’s sustainability was used to show that Ripple’s XRP is superior to Bitcoin.
Bitcoin depends on the power consumption and unmaintainable mining process and resource-draining proof-of-work mechanism.
XRP transactions in the ledger aim to solve the ‘double-spend’ problem that the energy-intensive proof of work mining exhibits.
In the past, Ripple has always said that its XRP blockchain is better compared to Bitcoin’s. For 1 million transactions, the XRP token powered 79,000 lightbulb hours, not like Bitcoin. For 1 million transactions, it can power Bitcoin’s 4.51B lightbulb hours.
Ripple claims that its XRP is 57,000 times more efficient than Bitcoin with regards to energy consumption.
Additional Ripple News
The firm recently announced that it had established a regional office in Dubai Financial Centre (DIFC).
Ripple chose the UAE for the country’s “innovative regulations.” The FDIC offered blockchain firms like Ripple tax holiday on corporate income profits for the next 50 years.
Ripple CEO also considered moving the firm’s headquarters in San Francisco to greater regulatory clarity than that of the US.
Rumors say that Japan and Singapore were shortlisted to be the firm’s head office’s new site.
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