Chris Larsen, the co-founder of Ripple Labs, has recently addressed the massive revolution of blockchain technology at the CFCon USA 2018.
He said that the blockchain tech is the most hyped technology at the moment and fintechs have received high attention due to this.
He also said that this is the first time that they have become genuinely global because of this.
No future without globalization, says Larsen
According to Larsen, this represented the final step on globalization. Larsen believes that there is no future for a world unless it was more global or more interoperating on an international basis.
He continued and explained that globalization is not a bad thing, but it’s instead a work in progress. He believes that globalization is not complete without three essential elements: data, goods, and money.
Larsen says that the world has seen globalization in terms of goods and data, but not also regarding money.
He says that this holds the world back and even wasting trillions of dollars.
Larsen concluded by saying that the essential requirements for any blockchain to be a part of this new global interoperable ecosystem are the following: to be “open source, decentralized, secure, have settlement predictability, be cost-effective, have a high throughput, and consume less energy.”
Experts address Ripple’s XRP vs. Bitcoin
Recently more experts disagreed with what Bitcoin stands for, and its overpriced status and they’re calling the digital asset a bubble.
“There are some cryptos that are working with regulators. Ripple would be an example. I can imagine in the next five years instead of doing sterling against the dollar or sterling against the yen; I can see these transfer transactions with sterling versus Ripple.”
More experts believe that XRP’s future looks bright and the crypto will get to be traded against the most important world currencies.