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Former Ripple investor: “99 percent” of crypto projects just want quick financial gains

The crypto market is like no other. Most “traditional” investors shy away from the volatile market even if yields outshine any other asset class and blockchain technology continues to evolve. However, an early blockchain investor believes the industry is still promising.

Kevin Rose, an American internet entrepreneur and investor, may be known as a co-founder of the Digg news curator platform, his subsequent work at Google Ventures (GV), and now a partner at True Ventures. But there is a small part that not many know about in the crypto industry. At GV a year 2013 Rose led the venture investments in a then opaque blockchain company, Ripple Labs, which later became one of the world's most popular providers of blockchain-based business solutions.

In a larger interview with TechCrunch, Rose was asked about his current position on Ripple, which has since become a “controversial” company. The 43 year old noticed:

It was a completely different world when Ripple was launched for the first time (…) there was no way for the company to take over this (cryptocurrency) in any way.

Rose also referred to Ripple's business plan that creating a blockchain-based inter-bank transfer and messaging framework was an “exciting” idea. However, he “never really saw” the use case for Ripple's currency (later introduced as XRP). When asked about the myriad of cryptocurrencies in the open market and their potential in the broader financial market, Rose said:

“It's early days. I think this will be a space that will continue to mature over the next few decades ”.

He further notes that there is a “good chance” that you won't even notice that they are using cryptocurrencies even if a user interacts with a blockchain-based platform and monitors billing on distributed ledgers. Such developments, Rose adds, will “most likely” take place in a simple and easy-to-use interface “from a very trustworthy brand.”

The future is digital

Meanwhile, he found that 99 percent of all crypto projects on the market ” for purely financial reasons ”. But despite the “garbage” there are still high quality projects on the market. Rose adds that there is “no doubt” that the future of currencies will be digital. Ripple’s XRP remains in a gray area. The company has stated that all corporate development work at Ripple Labs is independent of what XRP does. Critics call it an “infinite ICO” and have even filed lawsuits to clarify the matter.

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