"Let's be clear: Ripple is different than XRP" Brad Garlinghouse, said during CB Insights' Future of Fintech conference in New York.
According to Coindesk.com, Garlinghouse opened his talk by pushing back against arguments that the XRP token may be considered a security, given its close link to the San Francisco-based company.
He explained during the CB Insights event:
"XRP is not a security for three reasons: if Ripple, the company, shuts down tomorrow, the XRP ledger will continue to operate; it's an open-source, decentralized technology; .... if you buy XRP, [you are] not buying shares of Ripple - buying XRP doesn't give you ownership of Ripple."
Garlinghouse also repeated concerns he has about bitcoin. Apparently he even went so far as to cast doubt on the SEC's classification that bitcoin is not a security, asking "how decentralized is it?"
"Three miners in China control more than 50 percent of the hash rate of bitcoin," he said, implying that the Chinese government may interfere with these miners and, as a result, have the ability to exert some form of control.
"The revolution of #blockchain is not happening outside the system. If you really want to impact society, of course you want to partner with financial institutions."— Ripple (@Ripple) June 21, 2018
-@bgarlinghouse on stage with @jeffjohnroberts at @CBinsights #FutureFintech pic.twitter.com/qWUCmClckg