Ripple Labs承诺XRP的未来在于机构采用，引发争议

本文深入研究了这场辩论的复杂性，探讨了Rao的言论的含义，分析了零售和机构利益相关者的观点，并研究了XRP未来的潜在后果。

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.

在加密货币的永恒不断变化的景观中，辩论，创新和叙事发生了变化。最近的争议的核心是Ripple的XRP，这是一种数字资产，长期以来一直是审查和猜测的主题。

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.

前全球基础设施创新负责人Dilip Rao最近的媒体露面引发了XRP社区中的一场大火，挑战了XRP对零售投资者的可及性的概念。 Rao对XRP的主张主要是为机构使用而设计的，有效地排除了零售商人，引发了激烈的辩论，提出了有关XRP未来及其在更广泛的加密货币生态系统中的作用的基本问题。

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.

本文深入研究了这场辩论的复杂性，探讨了Rao的言论的含义，分析了零售和机构利益相关者的观点，并研究了XRP未来的潜在影响。

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在最近关于食物链React Podcast的采访中发表的声明通过XRP社区造成了冲击波。他对XRP的断言主要是用于机构使用的，这充当了“进行大型交易的金融机构之间的大量资产”，这与许多零售投资者所相信的一幅截然不同的情况。

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的理由源于Ripple以企业为重点的商业模式。他认为，XRP的当前状态的特点是它的普遍存在是在“浅交易所”上交易的投机资产，破坏了Ripple的核心使命。他建议，这些交流缺乏促进蓬勃发展为XRP设想的大规模机构交易所必需的基础设施和支持。

“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：“我们对猜测具有非常浅水的交易所的小型零售商人不感兴趣，无法支持大规模交易的吞吐量。”

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表达了Ripple对XRP作为投机资产的当前状态的不满。他认为，代币的真正潜力在于其作为“批发工具”的作用，促进了金融机构之间无缝且高效的跨境支付。他认为，这一愿景必须从零售驱动的猜测转变为机构采用。

“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.”

“我们希望看到XRP被金融机构用作批发工具，以非常有效的方式移动大量价值，从而削减了成本和摩擦层。”

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的讲话引起了XRP社区的强烈反对，尤其是在长期以来一直拥护代币潜力的散户投资者中。 XRP被故意定位以排除零售参与的观念已经受到广泛的怀疑和愤怒。

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.

许多零售投资者认为，不应限制XRP的可访问性。他们认为，对于代币的开源性质和分散的建筑，无论其机构隶属关系如何，所有参与者都可以固有地访问它。

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用户月亮兰博（Moon Lambo）等人对Rao的观点表示强烈反对。他们认为，Rao的陈述代表了“防止XRP零售描述”的尝试，这可能会对代币对广泛投资者的吸引力产生严重影响。

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.

零售社区的反应突出了加密货币领域内的根本紧张：数字资产的分散精神与机构参与者的集中雄心之间的冲突。

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.

虽然Rao的言论与散户投资者的抵抗相遇，但他们与许多机构利益相关者的观点产生了共鸣。对于金融机构而言，XRP的上诉在于它有潜力简化跨境支付并降低交易成本。

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.

机构被吸引到XRP的速度，效率和可扩展性，所有这些都对促进大规模交易至关重要。他们将XRP视为对效率低下的潜在解决方案，并且与传统的记者银行系统相关。

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.

从机构的角度来看，对批发交易的重点与包含数字资产的金融机构的更广泛趋势保持一致。他们越来越认识到区块链技术彻底改变传统财务流程的潜力。

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对XRP的未来的断言在于机构采用反映了这一日益增长的趋势。他认为，在大规模的财务应用程序的背景下，最好的价值主张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的投机性质是一把双刃剑。尽管它吸引了一个庞大而热情的散户投资者社区，但它也促进了令牌的波动，并阻碍了机构参与者的收养。

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对XRP当前作为投机资产的现状的不满源于他的信念，即它损害了令牌的基本效用。他认为，对价格投机的关注掩盖了XRP彻底改变跨境支付的潜力。

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，重要的是要认识到，投机在任何新兴技术的早期阶段都起着至关重要的作用。它吸引了资本，提高意识并促进创新。

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.

挑战在于从投机阶段过渡到更成熟和可持续的采用阶段，在这种阶段，令牌的效用成为其价值的主要驱动力。

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

Rao对“浅交易所”的批评强调了基础设施在促进机构采用方面的重要性