Ripple seems to have been in the news now and then. Sometimes for the right reasons and sometimes for the SEC’s perceived wrong reasons. Yet again, the right and wrong notions of this news are left to the public’s judgment.
Ripple CTO David Schwartz and Bitcoin SV advocate Jerry David Chan recently got into a heated argument on Twitter concerning the accountability of Bitcoin developers.
How The Ripple- BTC SV Debate Began
The debate was sparked by litigation filed by self-described Satoshi Craig Wright against well-known Bitcoiners, which the U.K. Court of Appeals recently found to have strong validity.
Chan said that lawyers should have been contacted before creating the Bitcoin program and that ignorance is not a defense when handling billions of dollars through software. On the other hand, Schwartz argued that the engineers were only defending the code they created through an open and public discussion and that the idea of holding them accountable for participating in a contentious fight was “complete nonsense.”
Schwartz, Ripple CTO, tweeted,
“What you are arguing caused people to be locked out or lose funds is the outcome of a public debate over what code bitcoin nodes should run. This is an attempt to impose liability on people for making particular arguments to the public on an important issue.”
Wright’s lawsuit derives from his assertion that he lost billions of dollars worth of Bitcoin in the Mt. Gox hack and asserts that the developers owe him fiduciary duties under English law. The legal battle has sparked debate regarding the function of judicial decisions and public discourse in the growth of the blockchain community.
Wright’s attempt to utilize the legal system to compel developers to support his cause has been dubbed “vile” and “grotesque” by the Ripple CTO. The case is anticipated to be a significant development in the blockchain ecosystem and might have significant effects on future developer duties.
At the time of writing, XRP was priced at $0.401006 with a hike of 1.0% over the last 24 hours.