Ripple’s CTO does not believe the Stellar-IBM partnership solves the issue of centralization.
- David Schwartz was speaking within an AMA session on Quora where he spoke his beliefs on the collaboration.
- Stellar Lumens’ IBM partnership does not solve cenzentralization issue says Ripple’s David Schwartz
Ripple’s Chief Technology Officer, David Schwartz was speaking on the partnership of Stellar and IBM, suggesting strongly that it misses the point of blockchain completely, does not solve the centralization issue.
Schwartz was speaking recently within a AMA session on Quora and commented directly on the Stellar-IBM collaboration. He said:
The root problem is that global payments infrastructure is centralized – IBM, SWIFT, and the rest of the old guard attempt innovation with blockchain, but do not solve the centralization issue. IBM has positioned itself as the central operator of the Stellar network, meaning it approves all validators and therefore controls the transactions.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
