Today I want to talk about something that came about in the news recently and that is about XRP or the company ripple working with the Trump administration so let's go ahead and talk about how this all started
All started back with Bitcoin which many of bitcoin is the first cryptocurrency that came out and slowly as Bitcoin started to gain traction it also started to develop in other countries and one of the major countries that has a dominance over Bitcoin is China so as you know bitcoin is a proof-of-work concept so what that means is in order to kind of get more Bitcoin you need some mine Bitcoin to get Bitcoin and when that started the majority of mining started to take place in China so bit Maine is basically one of the largest mining companies and according to ripples chief strategist they said that 80% of mining for Bitcoin takes place in China when you think about 80% that is way more than half so the majority of Bitcoin is dominated by Chinese government or in China
So the reason that Trump administration is getting worried is because follow politics the United States and China or right now kind of going back and for power dominance and they're kind of enough and an unstable situation now if one country has a dominance over a multi-million dollar industry then obviously this government holes would also look into alternatives or try to get some dominance back
The reason Trump administration is into xrp is because the company ripple is in talks with Trump administration and how they could better serve the government by integrating the ripple technology and therefore using XRP the cryptocurrency into basically day-to-day transactions or whatever the government wants to use the technology for
I know some people say why is ripple in talks with the government when ripple the company owns 60% of XRP well the government feels that they would rather trust a company on US soil based in the United States rather than Bitcoin which is controlled by kind of like an enemy of the United States
So one of the things that goes into perspective here is that Bitcoin is supposed to be completely decentralized it's moving to kind of like a centralized power because one person or one company can do whatever they want with it just like ripple however ripple is becoming more decentralized as technology moves forward so it's kind of going in opposite ways again you guys could do your own research and let me know what you guys think but looking at timeline of events that are going down I feel that the government is going to start integrating ripple or ripple technologies and while they integrate ripple technologies just like maybe if they use X rapid cryptocurrency XRP will also kind of go hand-in-hand with that which will increase liquidity and volume
Maybe almost a year ago there was news that came out that the government state agencies were testing out ripple or the technology and XRP in transactions that they do day-to-day any state does probably millions of dollars in transaction and they were looking into ripple and ripples technology by using XRP to save money for their everyday transactions
That now being linked into the trump administration and the government looking into ripple there is a good chance that they start using ripples technology which we could see a huge increase of liquidity and volume for XRP
I just wanted to bring that news out to you and I want to know what you think if you go ahead please comment below what you think what will happen is the government going to be serious by taking ripple or cryptocurrency in general because China have such a dominance and that's I want to hear your thoughts on that as well