Brad Garlinghouse, Ripple CEO, upon the success of Joe Biden at the pools in America, has expressed readiness to align with the President-elect policies.
Ripple CEO said this mainly concerning environmental policies that the president-elect is going to be conscious of. With President Trump administration largely reckless about environmental issues, Garlinghouse is set to align with policies of an administration more conscious about the problem.
The Ripple CEO also predicted that part of the first steps Joe Biden will take in the office is to demand greenhouse-gas producing activities disclosure from all publicly-traded companies.
According to Garlinghouse, firms converting cash to Bitcoin are mistaken as more environmentally conscious Biden administration takes the White House in January.
Ripple CEO keen on sustaining the environment
Ripple will be more concerned about the highly debated “sustainability of money” narrative as Biden prepares to become president. The sustainability of money primarily was used to show that Ripple’s XRP is superior to Bitcoin.
Bitcoin relies on power consuming and unsustainable mining process and resource-draining proof-of-work mechanism.
Primarily, XRP transactions in the ledger aim to solve the ‘double-spend problem that the energy-intensive proof of work mining usually exhibits.
Ripple have always said in the past that its XRP blockchain is better compared to Bitcoin’s. For 1 million transactions, XRP token power 79,000 lightbulb hours, unlike Bitcoin. For 1 million transactions, it can power Bitcoin’s 4.51 billion lightbulb hours.
Based on this argument, Ripple claims that its XRP is 57,000 times more efficient than Bitcoin regarding energy consumption.
Other Ripple News
Recently, the firm announced that it had established a regional office in the Dubai International Financial Centre (DIFC).
Reportedly, Ripple chose the UAE because of the country’s” innovative regulations.” The DIFC offers blockchain firms like Ripple tax holiday on corporate income and profits for 50 years.
Ripple CEO also has spoken about moving the firm’s headquarters in San Francisco to greater regulatory clarity than that of the United States.
Rumors had it that Japan and Singapore were shortlisted to be the firm’s head office’s new location.