Ripple, Honorary Advisor to the Chief Technology Officer and one of the early architects of XRP Ledger, stated that the long-term healthy development of XRP Ledger depends on introducing more independent participants, so that it will not ultimately serve only Ripple.

In an interview, Schwartz stated that this interview was conducted in preparation for Evernorth's listing on NASDAQ. He mentioned that new participants like XRP's treasury company can help to mitigate risks that even well-intentioned builders might face. Schwartz serves as a strategic advisor to Evernorth and also holds a position on its board of directors.

Key points:

• Schwartz believes that the governance of XRP Ledger needs more voices, so that the network will not be seen as a "tool that serves only the interests of Ripple".
• He believes that there are no obvious technical gaps that would prevent banks or asset management companies from using this network.
• The real obstacles lie in liquidity, the channels for depositing and withdrawing funds, and connecting the ledger to existing financial systems.

Governance Reminder from the Co-creators of the Ledger

Schwartz indicates that most of the technical issues with XRP Ledger have been resolved. The more difficult question now is: who exactly should this ledger serve the needs of?

"You can build a blockchain that does only one thing, or you can build a blockchain that does other things," he said. "The key is to figure out what problem it should be used to solve."

He said that a dominant company could make mistakes in this regard. “Even if your intentions are good, it’s easy to convince yourself that what’s beneficial to you is also beneficial to everyone,” he stated.

Schwartz said that Evernorth plans to run verification nodes and participate in ledger development, which adds the necessary diversity. He stated that this is very important because it relates to whether people will be able to adopt XRP Ledger and is confident that it “will not become a tool that serves only the interests of Ripple.”

"Going to the moon is a problem that has already been solved."

Schwartz uses the analogy of space to describe the location of XRP Ledger. He pointed out that humans landed on the moon over 50 years ago, so this technology has already been proven feasible. Nevertheless, traveling to the moon today is still very difficult.

"Technically it's very outstanding, but that's not enough to make it useful in the real world," he said.

He believes that liquidity supply and the channels for depositing and withdrawing funds are the areas that are most helpful to the ledger, but at the same time, they are also the most risky. Regulation used to be a major obstacle, but he says that nowadays these "headwinds have turned into tailwinds."

Lending service is now available, but DeFi has not yet been connected.

Schwartz indicates that the native lending feature on XRP Ledger has been launched. What is missing is the integration with the broader DeFi ecosystem.

He said that nowadays most activities focus on the tokenization of real-world assets, which he refers to as "necessary infrastructure." The next step is to enable people to transfer funds between these assets, as well as to borrow and manage their holdings. "People need to be able to borrow money. They need to have reasonable investments," he said.

He added that without a listing vehicle like Evernorth, it would be "very challenging" for a company to hold XRP on its balance sheet.

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