Recently Ripple, a San Francisco-based Fintech firm, published a blog post to share several predictions made by Ripple executives.
The Managing Director of Europe and the UK at Ripple, Sendi Young, believes that Central Bank Digital Currency (CBDCs) will grab huge adoption among the central banks & these will further boost the financial innovations in the world. She also said that institutions will also jump into long-term Crypto adoption despite the downfall in the price of crypto assets and they will mainly focus on improvements in efficiency, transparency, and speed.
Ripple’s vice president of central bank engagements, James Wallis, said that Ripple planned to collaborate with the huge numbers of CBDCs with its pilot programs so that blockchain technology can be used perfectly in the cross-border payment services.
Ripple CTO David Schwartz predicted that Crypto 2023 will see significant adoption of the NFTs at the practical level use case, for example in the areas of real estate and carbon markets. Also said that if NFTs will grab a very high level of adoption then it will help to bring transparency to the ownership of properties.
Brooks Entwistle, SVP and Managing Director of APAC at Ripple, also shared his opinion and said that recent ups & downs in the crypto market were good for the future of Crypto projects. He compared this situation with the “Dotcom bubble” and noted that sudden increments & big crashes will help to grow the Crypto companies on behalf of the practical level innovations & use cases, instead of relying on hype.
Ripple’s VP of Impact, Ken Weber, noted that Crypto’s decentralised payment ability is a much better feature for people when traditional financial systems fail. He expects that in the future, huge numbers of NGOs will move toward Crypto payment options.