TLDR
- Vet defends XRPL’s decentralized governance model against SWIFT CIO’s criticism.
- XRP Ledger operates under neutral shared governance similar to Bitcoin and Ethereum.
- Ripple does not control the XRPL ensuring no single company skews rules.
- David Schwartz emphasizes XRPL’s decentralization over Bitcoin’s proof-of-work.
- Vet highlights misconceptions about XRP’s centralization in response to SWIFT’s concerns.
Vet, a validator on the XRP Ledger (XRPL), recently responded to comments made by Tom Zschach, Chief Innovation Officer at SWIFT. Zschach questioned the resilience of blockchain networks, claiming that surviving lawsuits does not indicate robustness. He also stated that institutions prefer neutral, shared governance for financial systems.
Vet Defends XRPL’s Decentralized Governance
Vet quickly countered Zschach’s remarks, defending the decentralized governance structure of the XRP Ledger. He explained that XRPL’s operation is similar to Bitcoin and Ethereum, where hundreds of independent nodes ensure no single entity controls the system. “The XRPL operates under neutral, shared governance,” Vet said, addressing concerns that institutions could be tied to a competitor’s network.
Bullish that the Chief Innovation Officer of SWIFT doesn't understand blockchain governance.
The XRP Ledger governance is shared by hundreds of nodes. No different than BTC or ETH. No single entity controlling the XRPL, no bias or skew in favor towards any company. pic.twitter.com/H1HTLitl5B
— Vet
(@Vet_X0) September 2, 2025
Vet emphasized that Ripple does not control the XRPL. While Ripple is heavily associated with XRP, it is not the entity governing the ledger. He pointed out that no single company can alter the rules of the XRPL to benefit itself, which sets it apart from centralized systems.
Ripple’s Commitment to Compliance and Neutral Governance
Vet’s response was triggered by a professional’s comment on Ripple’s compliance efforts. Ripple has a long history of working with regulators and setting compliance standards in the industry. He argued that the XRP Ledger’s governance model is inherently neutral, contrasting with SWIFT’s centralized system, which may not align with the decentralization desired by institutions.
Ripple’s Chief Technology Officer, David Schwartz, and other experts have repeatedly corrected misconceptions about XRP’s centralization. Schwartz has explained that the XRP Ledger is more decentralized than proof-of-work blockchains like Bitcoin. This position bolsters Vet’s argument that the XRPL provides a more secure and neutral platform for global financial transactions.
SWIFT Faces Challenges in Adapting to New Technologies
SWIFT, the traditional leader in cross-border payments, now faces pressure from decentralized blockchain networks like XRPL. As institutions explore digital asset adoption, governance models become a key factor in choosing blockchain solutions. Vet’s comments highlight that dismissing XRPL’s governance structure reflects a misunderstanding of decentralized networks.
The XRP Ledger’s decentralized model reassures institutions that they are not entrusting operations to a single corporate entity. Vet’s response suggests that SWIFT’s leadership might not fully grasp the workings of decentralized networks. The debate signals the growing importance of governance in the future of cross-border payments.
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Source: https://blockonomi.com/xrpl-validator-responds-to-swift-cios-critique-of-ripple/