The best Waves wallets put to the test
Ripple based proof-of-concept project
The company is trying to evaluate further use cases, far away from the classical use as a digital bridge currency for the processing of cross-border payments. One such use case is now being discontinued. Wietse Wind has surprisingly announced via Twitter that XRPText will not be continued.
XRPText was started in 2018 by the main developer of XRPLabs, Wietse Wind, and has been continuously developed and improved until today. However, the project could not generate enough users and thus no significant income. Therefore Wind feels forced to shut down XRPText, as the further development cannot be pushed from an economic point of view.
According to the official website, all users are requested to withdraw their remaining XRP credits from the platform. In the Netherlands, new regulations for the licensing of companies offering finance-based services came into force last year. These new laws entail high costs for operation and maintenance. Last but not least: thank you for testing, trying and using the project. It was fun! But as I’m now trying to start a licensed / registered business, I don’t want to risk a small project like XRPText to possibly bite me in the ass.Another project started by Wind, XRParrot, also had to be closed due to regulatory problems. Most recently, the social media platform Twitter caused a stir when the XRP Tip Bot on the platform was blocked.
Author : Collin Brown