Ripple Labs承諾XRP的未來在於機構採用，引發爭議

本文深入研究了這場辯論的複雜性，探討了Rao的言論的含義，分析了零售和機構利益相關者的觀點，並研究了XRP未來的潛在後果。

In the perpetually shifting landscape of cryptocurrency, debates rage, innovations emerge, and narratives transform. At the heart of a recent controversy lies Ripple’s XRP, a digital asset that has long been a subject of intense scrutiny and speculation.

在加密貨幣的永恆不斷變化的景觀中，辯論，創新和敘事發生了變化。最近的爭議的核心是Ripple的XRP，這是一種數字資產，長期以來一直是審查和猜測的主題。

A recent media appearance by Dilip Rao, former Global Head of Infrastructure Innovation at Ripple, has ignited a firestorm within the XRP community, challenging the very notion of XRP’s accessibility to retail investors. Rao’s assertion that XRP is primarily designed for institutional use, effectively excluding retail traders, has sparked a heated debate, raising fundamental questions about the future of XRP and its role in the broader cryptocurrency ecosystem.

前全球基礎設施創新負責人Dilip Rao最近的媒體露面引發了XRP社區中的一場大火，挑戰了XRP對零售投資者的可及性的概念。 Rao對XRP的主張主要是為機構使用而設計的，有效地排除了零售商人，引發了激烈的辯論，提出了有關XRP未來及其在更廣泛的加密貨幣生態系統中的作用的基本問題。

This article delves deep into the intricacies of this debate, exploring the implications of Rao’s remarks, analyzing the perspectives of both retail and institutional stakeholders, and examining the potential ramifications for the future of XRP.

本文深入研究了這場辯論的複雜性，探討了Rao的言論的含義，分析了零售和機構利益相關者的觀點，並研究了XRP未來的潛在影響。

Rao’s statement, delivered during a recent interview on the Food Chain React podcast, has sent shockwaves through the XRP community. His assertion that XRP is intended primarily for institutional use, acting as a “substantial asset between financial institutions for executing large transactions,” paints a starkly different picture from the one many retail investors have come to believe.

Rao在最近關於食物鏈React Podcast的採訪中發表的聲明通過XRP社區造成了衝擊波。他對XRP的斷言主要是用於機構使用的，這充當了“進行大型交易的金融機構之間的大量資產”，這與許多零售投資者所相信的一幅截然不同的情況。

Rao’s rationale stems from Ripple’s enterprise-focused business model. He argues that the current state of XRP, characterized by its prevalence as a speculative asset traded on “shallow exchanges,” undermines Ripple’s core mission. These exchanges, he suggests, lack the infrastructure and support necessary to facilitate the large-scale, institutional transactions that Ripple envisions for XRP.

Rao的理由源於Ripple以企業為重點的商業模式。他認為，XRP的當前狀態的特點是它的普遍存在是在“淺交易所”上交易的投機資產，破壞了Ripple的核心使命。他建議，這些交流缺乏促進蓬勃發展為XRP設想的大規模機構交易所必需的基礎設施和支持。

“We’re not interested in small retail traders speculating on an exchange that has very shallow liquidity and can't support the throughput of large-scale transactions,” Rao stated, expressing Ripple’s stance on the matter.

Rao表示：“我們對猜測具有非常淺水的交易所的小型零售商人不感興趣，無法支持大規模交易的吞吐量。”

Furthermore, Rao expresses Ripple’s dissatisfaction with XRP’s current status as a speculative asset. He believes that the token’s true potential lies in its role as a “wholesale instrument,” facilitating seamless and efficient cross-border payments between financial institutions. This vision, he contends, necessitates a shift away from retail-driven speculation towards institutional adoption.

此外，Rao表達了Ripple對XRP作為投機資產的當前狀態的不滿。他認為，代幣的真正潛力在於其作為“批發工具”的作用，促進了金融機構之間無縫且高效的跨境支付。他認為，這一願景必須從零售驅動的猜測轉變為機構採用。

“We want to see XRP used by financial institutions as a wholesale instrument to move vast quantities of value in a very efficient manner, cutting out layers of costs and friction.”

“我們希望看到XRP被金融機構用作批發工具，以非常有效的方式移動大量價值，從而削減了成本和摩擦層。”

Rao’s remarks have sparked a fierce backlash from the XRP community, particularly among retail investors who have long championed the token’s potential. The notion that XRP is being deliberately positioned to exclude retail participation has been met with widespread skepticism and anger.

Rao的講話引起了XRP社區的強烈反對，尤其是在長期以來一直擁護代幣潛力的散戶投資者中。 XRP被故意定位以排除零售參與的觀念已經受到廣泛的懷疑和憤怒。

Many retail investors argue that XRP’s accessibility should not be restricted. They contend that the token’s open-source nature and decentralized architecture make it inherently accessible to all participants, regardless of their institutional affiliation.

許多零售投資者認為，不應限制XRP的可訪問性。他們認為，對於代幣的開源性質和分散的建築，無論其機構隸屬關係如何，所有參與者都可以固有地訪問它。

X user Moon Lambo, among others, has voiced strong opposition to Rao’s perspective. They argue that Rao’s statements represent an attempt to “prevent the retail depiction of XRP,” which could have serious implications for the token’s appeal to a broad base of investors.

X用戶月亮蘭博（Moon Lambo）等人對Rao的觀點表示強烈反對。他們認為，Rao的陳述代表了“防止XRP零售描述”的嘗試，這可能會對代幣對廣泛投資者的吸引力產生嚴重影響。

The retail community’s reaction highlights a fundamental tension within the cryptocurrency space: the conflict between the decentralized ethos of digital assets and the centralized ambitions of institutional players.

零售社區的反應突出了加密貨幣領域內的根本緊張：數字資產的分散精神與機構參與者的集中雄心之間的衝突。

While Rao’s remarks have been met with resistance from retail investors, they resonate with the perspectives of many institutional stakeholders. For financial institutions, the appeal of XRP lies in its potential to streamline cross-border payments and reduce transaction costs.

雖然Rao的言論與散戶投資者的抵抗相遇，但他們與許多機構利益相關者的觀點產生了共鳴。對於金融機構而言，XRP的上訴在於它有潛力簡化跨境支付並降低交易成本。

Institutions are drawn to XRP’s speed, efficiency, and scalability, all of which are crucial for facilitating large-scale transactions. They view XRP as a potential solution to the inefficiencies and high costs associated with traditional correspondent banking systems.

機構被吸引到XRP的速度，效率和可擴展性，所有這些都對促進大規模交易至關重要。他們將XRP視為對效率低下的潛在解決方案，並且與傳統的記者銀行系統相關。

From an institutional standpoint, the focus on wholesale transactions aligns with the broader trend of financial institutions embracing digital assets. They are increasingly recognizing the potential of blockchain technology to revolutionize traditional financial processes.

從機構的角度來看，對批發交易的重點與包含數字資產的金融機構的更廣泛趨勢保持一致。他們越來越認識到區塊鏈技術徹底改變傳統財務流程的潛力。

Rao’s assertion that XRP’s future lies in institutional adoption reflects this growing trend. He believes that the token’s value proposition is best realized in the context of large-scale financial applications, where its speed and efficiency can be fully leveraged.

Rao對XRP的未來的斷言在於機構採用反映了這一日益增長的趨勢。他認為，在大規模的財務應用程序的背景下，最好的價值主張最好在其速度和效率上得到充分利用。

The speculative nature of XRP has been a double-edged sword. While it has attracted a large and passionate community of retail investors, it has also contributed to the token’s volatility and hindered its adoption by institutional players.

XRP的投機性質是一把雙刃劍。儘管它吸引了一個龐大而熱情的散戶投資者社區，但它也促進了令牌的波動，並阻礙了機構參與者的收養。

Rao’s dissatisfaction with XRP’s current status as a speculative asset stems from his belief that it detracts from the token’s fundamental utility. He argues that the focus on price speculation overshadows XRP’s potential to revolutionize cross-border payments.

Rao對XRP當前作為投機資產的現狀的不滿源於他的信念，即它損害了令牌的基本效用。他認為，對價格投機的關注掩蓋了XRP徹底改變跨境支付的潛力。

However, it is important to acknowledge that speculation plays a vital role in the early stages of any emerging technology. It attracts capital, generates awareness, and fosters innovation.

但是，重要的是要認識到，投機在任何新興技術的早期階段都起著至關重要的作用。它吸引了資本，提高意識並促進創新。

The challenge lies in transitioning from a speculative phase to a more mature and sustainable phase of adoption, where the token’s utility becomes the primary driver of its value.

挑戰在於從投機階段過渡到更成熟和可持續的採用階段，在這種階段，令牌的效用成為其價值的主要驅動力。

Rao’s criticism of “shallow exchanges” highlights the importance of infrastructure in facilitating institutional adoption

Rao對“淺交易所”的批評強調了基礎設施在促進機構採用方面的重要性