Cory Johnson may not be a common household name but he has been extremely successful in the publishing world and is the co-host for Bloomberg West. Johnson was the founding editor for the hip hop magazine Slam, the music and entertainment magazine Vibe and co-founded the online magazine thestreet.com where he also worked as a reporter and West Coast Bureau Chief. Now, he can add yet another title to his resume - Ripple’s new Chief Market Strategist.
There has been a lot of confusion surrounding what Ripple truly is, and some would go as far to say that Ripple isn't a true cryptocurrency because it was never intended to work as a public digital currency like other popular altcoins. Johnson filling this new senior level position might be exactly what Ripple needs to change that stigma.
To the surprise of some, the success of Ripple isn’t necessarily based on the price of XRP. XRP is simply what Ripple calls a settlement token that banks use with the company’s “XRapid” system. Unlike other coins that are mined, the most prominent of such being Bitcoin, Ripple’s coins are essentially premined and amount to 100 billion coins, 60 billion of those being owned by Ripple which are not figured into the market cap.
In a recent interview with Yahoo Finance, Johnson was asked about his recent jump to crypto from media and what the transition meant to him.
“I’ve seen high growth startups for 20 years, some have done wonderfully and spectacularly...I’ve watched a lot of companies faceplant. So the idea I could be involved at a senior level to help shape a company that’s doing some things that have really captivated the imagination of everyone in the world of business is really exciting. So I’m stoked.”
Ripple (XRP) skyrocketed in value in 2017 by well over 32,000%. Ripple has successfully offered and demonstrated its blockchain services to well over 100 banks giving them lightning fast payment processes. Western Union, one of the biggest names in money transfers worldwide, also announced they would be implementing Ripple’s product in testing - fantastic news for those who had been cheering on the company from its early stages.