Ripple at a Crossroads: Recent Events Prompt Consideration of Decentralization

Ripple originally aimed to replace SWIFT for cross-border payments, offering faster transfers and lower fees.
Ripple's centralized structure enabled swift transactions but limited wider crypto community engagement.
A closed system prevented Ripple from building an indispensable foundational layer like other protocols.
Ripple could share value by transitioning to an open platform that engages a community.
Recent legal developments give Ripple an opportunity to chart a new decentralized course.

cointelegraph.com

Relevant topic timeline:

8/25/2023

Ripple v. SEC case update as of August 25, 2023

Ripple's final victory in its legal battle against the SEC regarding the classification of XRP remains uncertain as both parties indicate their availability for trial in the second quarter of 2024, with a potential trial start date of April 20; meanwhile, the price of XRP has experienced a decline amid market uncertainty.

9/8/2023

Ripple Expands US Licensing Footprint With Acquisition of Nevada's Fortress Trust

Ripple is acquiring Fortress Trust, a regulatory and technology infrastructure provider for blockchain organizations, expanding its portfolio of licenses in the United States.

9/13/2023

Ripple Plans Global Expansion Despite Ongoing Lawsuit Over XRP's Status as a Security

Ripple plans to continue fighting the ongoing lawsuit with the SEC over allegations of breaching securities laws in the sale of its cryptocurrency XRP, with the company asserting that XRP is not a security and seeking to expand its business globally.