EX-Ripple Director Says Ripple is in Dilemma in Response to xSPECTAR Planned Exit from XRPL

A former Ripple Director spotlights funding challenges within the XRP ecosystem in light of xSPECTAR’s intention to exit XRPL due to lack of support .

Matt Hamilton, former Director of Developer Relations at Ripple, has expressed his views on the recent allegation of neglect against Ripple, shedding light on the funding and support issues within the XRP ecosystem.

In a tweet, Hamilton discussed the conundrum of funding decentralization while having most of the funds controlled by a single entity, Ripple. He mentioned the XRP Ledger Foundation (XRPLF) as an initiative to address such issues but noted its relative dormancy.

It is a tough conundrum and something I wrestled with whilst I was there. The dichotomy of wanting funding to be decentralised but at the same time one entity has most of the funds. The XRPLF was meant to “solve” that in some way, but seems fairly dormant.

July 6, 2023

Yet, Hamilton discussed the limitations of relying on public voting mechanisms, pointing out that such systems may not accurately represent stakeholders’ interests. 

He cited examples from the  Initial Coin Offering (ICO)

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