Ripple has added Gene Sperling to their Board of Directors, according to a press release emailed to Cointelegraph by Ripplelabs.
Such names likely aren't going to please the libertarian sect of the cryptocurrency space, who see Keynesian economics as an assault on freedom, opposed to everything they stand for, as well as what they feel cryptocurrencies stand for.
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Along with board member Susan Athey, RippleLabs now has two board members attending the World Economic Forum, which is currently being held in Davos, Switzerland.
Nevertheless, the political reality is that cryptocurrency companies will have to deal with both political parties in Washington. Having Sperling on their board of directors will undoubtedly help RippleLabs navigate what are sure to be some choppy regulatory waters in the future.
The names of people he served under look like a “who's who” list of Democratic economic policy. Gene Sperling served as the Director of the National Economic Council (NEC) under President Clinton from 1997 until the end of his presidency. He held the same position under President Obama from 2011 until 2014. His previous experience also includes acting as the senior counselor to Treasury Secretary Timothy Geithner, and as a chief economic adviser for Hillary Clinton during her 2008 Presidential bid.
The addition is a significant one, as Sperling is connected at the highest political levels, having worked as a top economic adviser for both the Clinton and Obama administrations. His contacts and his experience are likely to come in handy as the cryptocurrency space begins to deal with regulation and legislation.
Unlike Bitcoin, Ripple has a very public and known creator. Its mission is a bit different than Bitcoin as well. Ripple, with its significant banking connections and partnerships, seems more focused on bringing the advantages of cryptocurrencies to the fiat world, rather than trying to get the fiat world to switch to cryptocurrencies.
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