Ripple’s chief technology officer David “JoelKatz” Schwartz used the annual XRP Las Vegas gathering to acknowledge publicly, for the first time, that the company’s constellation of products now constitutes what can “be considered a financial system.” Yet even as he laid out an expansive vision of on-ledger banking functions, Schwartz conceded that the link between that system’s growth and the market value of XRP itself remains “very hard to do” and ultimately uncertain.

Ripple CTO Casts Doubt On XRP’s Price Destiny

The exchange that forced the admission began when independent reporter Vincent Scott asked the CTO whether Ripple’s three pillars — the RLUSD dollar-pegged stablecoin as unit of account, the XRP Ledger (XRPL) as permissionless payment rail and XRP as settlement asset or “gas

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