tl;dr
Ripple's long-time CTO David Schwartz steps down after 13 years, but vows to remain active in the XRP community, sharing insights on the XRP Ledger's future and dispelling myths about Ripple's control.
**David Schwartz Steps Down as Ripple CTO After 13 Years, Pledges Continued Involvement in XRP Community**
Ripple’s Chief Technology Officer (CTO), David Schwartz, has announced his decision to step back from day-to-day responsibilities at the company by the end of 2023, marking the end of a 13-year tenure. The news, shared via a post on X (formerly Twitter), reflects a personal milestone for Schwartz, who described the move as a “personal inflection point” after four decades in the technology industry.
“I’ve been fortunate to be part of something truly unique,” Schwartz wrote. “The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year. But be warned, I’m not going away from the XRP community. You haven’t seen the last of me—now or ever.”
Schwartz’s journey with Ripple began in 2011 when he joined the team alongside Arthur Britto, Jed McCaleb, and Chris Larsen to develop the XRP Ledger. Reflecting on his time with the company, he called it “a wild ride,” emphasizing his excitement to focus more on family and personal hobbies. In recent months, he has been “tinkering on the side,” including running his own XRPL node and exploring new use cases for XRP.
In an August interview with *Decrypt*, Schwartz highlighted the XRP Ledger’s potential, pointing to three key areas of growth: the tokenization of real-world assets, the adoption of institutional stablecoins, and enterprise-focused on-chain features. “There will be use cases where digital assets like XRP and Bitcoin make sense—where volatility is either an advantage or not a disadvantage—and other cases where a more stable token like RLUSD or another stablecoin will make more sense,” he said.
He also addressed a persistent misconception about Ripple’s role in the XRP ecosystem. “The biggest misconception is that Ripple somehow controls the ledger,” Schwartz clarified. “The XRP Ledger has been running since 2012 with a global set of validators, most of them not affiliated with Ripple at all.”
Schwartz expressed confidence in Ripple’s leadership team, praising President Monica Long, Executive Chairman Chris Larsen, and SVP of Engineering Dennis Jarosch, among others. “I have total confidence in the next generation of leaders and builders,” he said. “The XRP community has so many talented individuals who will carry the torch.”
As he transitions out of his role, Schwartz remains committed to the XRP community, hinting at future contributions. His departure marks the end of an era for Ripple, but his legacy—alongside the XRP Ledger’s evolution—continues to shape the future of blockchain technology.