A report commissioned by secretive distributed ledger consulting group R3CEV and authored by bitcoin developer Peter Todd has raised questions about the ability of the Ripple protocol to serve the needs of global financial institutions in its current iteration...While concerns were raised, however, the report was viewed by some contributors as "the first serious, non-malicious attempt at pointing out perceived weaknesses in the system".
Coindesk: Inside R3CEV's Plot to Bring Distributed Ledgers to Wall Street
Originally published July 21st, 2015
About a year ago, R3CEV founder David Rutter and partner Todd McDonald traveled to California to survey the growing landscape of digital currency startups for potential investment opportunities. After days of meeting with numerous companies – in addition to back-and-forth trips on the highway – Rutter says that he had a moment of deja vu.
“I had seen it before where a lot of money – a lot of California-based venture money – was being thrown at PowerPoints and half-baked ideas about how this new technology was going to change finance as we know it," he recalled.
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