A recent tweet from crypto influencer Amelie has sparked renewed discussion in the digital asset space, particularly regarding the European Central Bank’s (ECB) stance on distributed ledger technology (DLT) and its implications for financial markets.
Amelie’s post references a statement made by ECB President Christine Lagarde in 2019, in which she acknowledged that technologies utilizing DLT were “clearly shaking the system.” The tweet also contrasts this with Lagarde’s more recent assertion that she is “confident Bitcoin won’t enter reserves in the EU.”
Lagarde’s 2019 Statement on DLT and Disruptors
In the video attached to Amelie’s tweet, Christine Lagarde, speaking in 2019, addressed the impact of financial disruptors leveraging distributed ledger technology.
She noted the presence of two key players in the financial landscape: incumbent banks and disruptors. According to Lagarde, these disruptors are actively reshaping traditional banking structures.
“We just heard a very large systemic bank here saying that they’re launching the digital coin, currently piloted in a way within the institutional clients, but to be scaled beyond that,” Lagarde stated.
She further referenced the TARGET Instant Payment Settlement (TIPS) system, which the ECB launched in November 2018 to facilitate instant, low-cost transactions between European banks.
However, her most striking remark came when she said: “Anything that is using distributed ledger technology, whether you call it crypto assets, currencies, or whatever, and it’s far from the Bitcoins that we used to talk about a year ago, that is clearly shaking the system.”
This statement underscores the ECB’s recognition of the transformative potential of DLT, particularly in financial institutions.
Contrasting Views on Bitcoin
Fast forward to the present, Lagarde has taken a firm stance against Bitcoin’s potential inclusion in EU reserves. Amelie’s tweet suggests that this shift highlights a deeper narrative—one where the real disruption was never about Bitcoin, but rather about other assets built on distributed ledger technology.
The crypto community, especially XRP supporters, has interpreted Lagarde’s words as an indirect validation of XRP’s role in the future of finance. Alessio Meloni, another X (formerly Twitter) user, responded to Amelie’s post, reinforcing this perspective:
“Exactly! Christine Lagarde’s 2019 statement made it clear: the real disruption isn’t Bitcoin—it’s the power of distributed ledger technology, and #XRP is at the forefront of that revolution. The future is clear, and it’s #XRP, not BTC!”
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— TimesTabloid (@TimesTabloid1) July 15, 2023
This sentiment echoes a common argument among XRP advocates—that XRP, with its efficient and scalable transaction capabilities, is better positioned to integrate with institutional financial systems compared to Bitcoin.
Implications for XRP and the Digital Asset Market
Lagarde’s recognition of DLT’s disruptive nature in 2019, coupled with her recent dismissal of Bitcoin in EU reserves, has fueled speculation about which digital assets will play a role in the future financial system.
While the ECB has not explicitly endorsed any specific digital asset, the focus on DLT-based solutions aligns with the strengths of XRP , which is designed for fast, low-cost cross-border transactions and is already being used by financial institutions worldwide.
Lagarde’s statements reaffirm that the ECB is closely monitoring developments in this space, and while Bitcoin may not be considered for reserves, DLT-powered financial solutions remain at the center of the evolving financial landscape.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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