Ripple CEO Brad Garlinghouse: "The World Doesn't Need 3,000+ Cryptocurrencies"

• Alex Dovbnya

  Fri, 12/27/2019 - 05:59

  📰 News

  Ripple's executives talk about the past and the future of the crypto giant as 2019 is coming to an end

In the latest "Ripple Drop" episode, Ripple executives share their predictions for 2020 and the whole decade. Their words spell a bright future for crypto but many projects will probably bite the dust. 

In this episode of the #RippleDrop, members of our executive team, including CEO @bgarlinghouse, reflect on the impact of #blockchain technology and digital assets over the past decade and what’s ahead for 2020. https://t.co/CfWlahfYAp pic.twitter.com/jXJPS64vNO

— Ripple (@Ripple) December 26, 2019

Real use cases 

Ripple CEO Brad Garlinghouse reiterates his opinion that the cryptocurrency industry will see some consolidation. He insists that there is no need for thousands of cryptocurrencies, and 2020 will be about "a migration to quality."

"I think you are gonna continue to see consolidation. Yeah, the world doesn't need 3,000 plus cryptocurrencies out there, and I think the utility will bear out that there will be a migration to quality if you will."

The company's CTO David Schwartz is on the same page with Garlinghouse when it comes to prioritizing quality use cases of blockchain projects. Schwarz gives an edge to those blockchains that can solve an actual problem and improve people's lives. 

"But I think we are going to more growth of blockchain into different use cases. I think the focus is going to be on, can you solve the actual problem?" 

Crypto disruption     

Ethan Beard, the SVP of Ripple's investment arm Xpring, is convinced that blockchain and crypto could potentially replace the global financial infrastructure. Meanwhile, Marcus Treacher, the SVP of Customer Success, predicts that blockchain will merge with other "core enabling technologies," appearing at the forefront of the fourth industrial revolution. 

Monica Long, the SVP of Marketing, claims that she will see a similar maturation of the industry and boom that will be similar to the early days of the internet. She also foresees the emergence of the Internet of Value, the digital space where internet users can seamlessly exchange value with each other.