Concerns about the centralization of Bitcoin have been on the agenda since people have learned that a significant percentage of the mining power belongs to just four major mining pools.
Ripple CEO Brad Garlinghouse, speaking at the Stifel Financial 2018 Cross Sector Insight Conference,
Ripple CEO Brad Garlinghouse, at the Stifel Financial 2018 Cross Sector Insight Conference, said that Bitcoin is a bit of a bit about Bitcoin, and that it is not going to be seen as a future global currency, Ripple's goal is to exceed Bitcoin through its fast processing speeds and viability in the banking market.
"Some important people, even Steve Wozniak, have said that they have seen a world where Bitcoin is the primary currency. I think this is ridiculous. I do not think a great economy will allow this to happen. By the way, it does not make sense. I will tell you a story that is rarely reported but worthy of attention. Bitcoin is really controlled by China. There are four miners in China who control 50 percent of Bitcoin. How do we know that China will not interfere? How many countries would like to use a Chinese controlled currency? This will not only happen. "
This may sound like paranoia at first, but as far as statistics are concerned, it is clear that Garlinghouse is not just talking about empty words. BTC.com, Antpool, F2Pool and BTC.TOP have two common aspects: they are a huge part of the mining power of the Chinese and Bitcoin.
Talked about Garlinghouse Blockchain and said that Blockchain will not disrupt banks,
Garlinghouse also announced that Bitcoin, global crypto money and Blockchain industries are still in their early stages of development