Ripple’s Potential Role in the Financial System: Insights from Wall Street Analyst Linda Jones

In a recent podcast “Good Morning Crypto,” Wall Street analyst Linda Jones shared a bold perspective, suggesting that Ripple could potentially play a role similar to that of the Federal Reserve in the emerging financial system. Jones highlighted the BRICS coalition’s efforts to break away from the dollar standard and its impact on the American economy.

Jones emphasized the coalition’s opposition to central banks and the dominance of a single currency controlling the world, particularly the Federal Reserve’s control through the US dollar. She proposed the emergence of a new American currency, potentially backed by gold or other assets, advocating for a financial system based on real assets rather than the fiat banking system reliant on the dollar.

Furthermore, Jones recommended a transition from a trust-based system managed by central banks to a truth-based system characterized by transparency. She reassured that this shift would not lead to failure for America, especially with Ripple, an American company, leading the way with the XRPL Ledger crypto blockchain.

The comparison between Ripple and the Federal Reserve brings to light the importance of transparency and accountability in the crypto sector. Jones’ analysis serves as a reminder of the need for a more transparent and accountable financial system, especially considering the history of the exchange platform MT. Gox, which suffered a massive hack in 2014, resulting in the loss of hundreds of thousands of bitcoins and subsequent bankruptcy.

Ultimately, Jones’ insights underscore the necessity for a safer and more open approach in the crypto industry to avoid repeating past mistakes. Ripple appears poised to contribute to this objective, aligning with the vision of a more transparent and accountable financial system.
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