While elaborating on his Analogy, he implied thus: “Think of how you can differentiate between the pocket calculator and smartphone, where a pocket calculator will do one thing, and it will do it well, but really, people want to do several other things. If you do own a smartphone, then you can have the pocket calculator as an app, you can have a music player as an app, you can have a web browser as an app, and almost everything else.
So basically, with the same kind of idea increasing the power of the system thereby making it more general purpose and applying it to blockchains.”
Jake Chervinsky tweeted about the status of the Ripple securities class action update thus: “The Court has denied the plaintiffs’ motions to remand. This means the case stays in federal court, a minor but meaningful victory for Ripple.”
The accusation in the lawsuit is that Ripple has sold XRP as unregistered security. It was expected that the corporate defendants would get a very sympathetic treatment. The plaintiffs are expected to file an Amended Consolidated Complaint by March 30, 2019.