ChainCatcher news, Ripple's Chief Technology Officer David Schwartz clarified that he is not a billionaire. Although in 2018, Ripple co-founder Chris Larsen's net worth soared to $54 billion due to holding 9 billion XRP, Schwartz chose to own 2% of Ripple's shares and a salary instead of XRP.In 2019, Forbes estimated Schwartz's wealth to be around $90 million, and in 2021 he stated that his net worth was still well below $170 million. He also revealed that most of his personal wealth is tied to volatile assets, which, despite substantial returns, still carry risks. Besides XRP, Schwartz also holds Bitcoin and several other altcoins.

ChainCatcher news, Ripple's Chief Technology Officer David Schwartz responded to the nature of staking in the crypto market on the X platform. He stated that the creation of new value is fundamentally different from the transfer of existing value; staking belongs to the former, while interest income belongs to the latter. David Schwartz explained, "You are not earning staking rewards; you are creating rewards, and they do not exist before you create them, which is different from someone transferring existing value to you."

ChainCatcher news, Ripple's Chief Technology Officer David Schwartz once again shared his views on the company's latest product, the RLUSD stablecoin, which was launched earlier this week.In a video message shared on the company's official X account, Schwartz stated that RLUSD provides the right use case that benefits both users and developers. It is a reliable asset designed to showcase the potential of the XRP Ledger. Schwartz pointed out that the stablecoin brings both direct and indirect benefits to the XRPL ecosystem. One direct benefit is that it drives positive trading volume, with XRP itself serving as the bridge asset. The uniqueness of XRP lies in its ability to support various assets, thereby expanding the accessibility of decentralized exchanges on the XRPL. Due to the unique differences between the two assets, XRP and RLUSD will complement each other, and the blockchain payment company will continue to use XRP as a bridge in its proprietary products.Additionally, he emphasized the prospects of the RWA tokenization market, believing that RWA will continue to grow, and the demand for stablecoins will keep increasing, with RLUSD poised to dominate this market.

ChainCatcher news, according to Cointelegraph, Ripple's Chief Technology Officer David Schwartz stated that the Ripple-backed stablecoin RLUSD may experience an "initial supply shortage," but there is no need for FOMO.It is expected that the RippleUSD (RLUSD) stablecoin will experience significant volatility after its launch, despite the token's design goal of maintaining a 1:1 peg with the US dollar, there are still several large orders.

ChainCatcher message, according to The Block, Ripple's Chief Technology Officer David Schwartz stated that he still hopes to launch its stablecoin RLUSD by the end of the year. However, the upcoming holidays may cause a delay in the release.

ChainCatcher news, Ripple's Chief Technology Officer David Schwartz recently refuted the lawsuit against Character.AI on social media, pointing out that the lawsuit lacks legal basis and emphasizing that the company's actions are protected by the First Amendment of the United States.The lawsuit alleges that Character.AI's chatbot platform is poorly designed, posing safety risks, and claims that its products are "extremely dangerous." In response, Character.AI has taken steps to update its safety protocols, increase age restrictions, and enhance user monitoring features.Schwartz believes that legal challenges against expressive content are contrary to constitutional rights and compares this case to past moral panics regarding new media.

ChainCatcher news, Evernode plans to introduce Hooks and a new token Codii on the XRP Ledger (XRPL) to enhance programmability, which has been questioned by Ripple's Chief Technology Officer David Schwartz.Schwartz believes the plan is overly complex and offers no clear benefits, warning that it could lead to increased transaction fees across the network due to higher resource demands.Evernode co-founder Scott Chamberlain proposed that the Codii token would be used to pay for the execution fees of Hooks, but Schwartz argued that XRP should be used directly to simplify the system and avoid unnecessary cost increases.

ChainCatcher news, Ripple's Chief Technology Officer David Schwartz confirmed that the upcoming stablecoin RLUSD will initially be available only to institutional users.Schwartz also addressed concerns about market manipulation and money laundering, emphasizing the safeguards in place for RLUSD. "I think this is unlikely to happen unless it's very early in the testing phase, before anyone is actually using it to transfer or store value."Previous news, Ripple's CEO Brad Garlinghouse stated that the Ripple stablecoin RLUSD will be launched in the coming weeks.

ChainCatcher news, according to CoinEdition, Ripple's Chief Technology Officer David Schwartz recently expressed support for Consensys in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against the cryptocurrency company. Schwartz cited the example of luxury diamond company DeBeer, arguing that MetaMask's services are not profit-driven.Schwartz further elaborated on the investment concepts related to MetaMask, adding that MetaMask's profits are merely the result of external market conditions and user activities, rather than the efforts of Consensys. Additionally, when comparing tokens and securities, he stated, "Tokens governed by smart contracts cannot make all token holders a common enterprise."

ChainCatcher news, according to Coin Edition, members of the XRP community inquired about the progress of Ripple's Prisma On-Demand Liquidity (ODL) API product during the X Space event. Ripple's Chief Technology Officer David Schwartz responded that currently, ODL does not support decentralized exchanges (DEX), but the company is exploring how to integrate DEX services into ODL for trading with automated market makers (AMM).Schwartz elaborated on the features of Prisma, emphasizing its ability to leverage DEX liquidity and liquidity from various exchanges to break down large trades into smaller, more manageable transactions, thereby improving liquidity utilization and reducing costs.Schwartz pointed out that one of the key factors for successfully integrating DEX services into ODL is having strong stablecoins pegged to major currencies, such as the US dollar stablecoin or the euro stablecoin. Although these stablecoins are not yet perfect, there is hope that compliant stablecoins will emerge in the future.

ChainCatcher news, after Uniswap Labs announced the open-source V4, Ripple's Chief Technology Officer David Schwartz commented on Twitter that Uniswap is not decentralized.Previously, Rotkiapp founder Lefteris Karapetsas also stated on Twitter that Uniswap V4 is released under a Business Source License (BSL), pointing out that some crypto projects would use the "open-source gimmick" to pretend to be decentralized.Schwartz further stated that the original version of Uniswap and the previous V3 version were also not decentralized, reminding the crypto community that Uniswap is actually controlled by Uniswap Labs. (source link)

ChainCatcher news, Ripple's Chief Technology Officer David Schwartz stated on social media that the ongoing sluggish performance of XRP and the broader cryptocurrency industry is due to the market's uncertainty about whether the crypto market will become the next big thing. This is similar to the situation Google faced in 2000, when the tech industry was also skeptical about whether search engines could provide billions of dollars in value. Currently, cryptocurrencies are in a similar situation, leading to price fluctuations driven by investor sentiment. Ultimately, as the crypto space matures, the market will make a choice. (source link)