Ripple CTO: MetaMask's service is not for profit

Odaily Odaily News Ripple Chief Technology Officer David Schwartz recently expressed support for the company in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against the cryptocurrency company Consensys. Schwartz cited the diamond market as an example, arguing that MetaMask's efforts are not for profit. In his argument in support of Consensys, Schwartz cited the example of luxury diamond company DeBeer. He said that MetaMask's activities will not determine the profits of users, and pointed out that DeBeer's activities are not profit-centered. He quoted: "MetaMask's efforts will not determine the profits of users, just as DeBeer's efforts will not determine the profits of those who hold diamonds." Schwartz further elaborated on the investment concept related to MetaMask, adding that MetaMask's profits are only the result of external market conditions and user activities, not Consensys' efforts. In addition, when comparing tokens and securities, he proposed that "tokens managed by smart contacts cannot make all holders a common enterprise." (CoinEdition)