Ripple CEO, Brad Garlinghouse has come out fighting over comparisons made between his burgeoning cryptocurrency XRP and BTC, the current market bellwether.
Mr Garlinghouse, speaking to Bloomberg Asia in Singapore, said that comparing Ripple to bitcoin was “a compliment” but that his company is moving the utility forward.
He said: “Some may look back at Bitcoin and say that it is the Napster of digital assets.
“What I mean by that is that Napster was the first to digitise music and demonstrate that you can do a lot of cool things with that.
“But ultimately they were circumventing trademark laws, they were circumventing royalty payments and then the government stepped in and Napster wasn’t successful.
“But Spotify, iTunes and Pandora were successful.”