|   Digital Currency


  |   Digital Currency


Ripple CEO Declares XRP Shall Emerge as the Amazon of Crypto

Brad Garlinghouse, Ripple’s CEO, recently chatted with CNN anchorwoman and correspondent Julia Chatterly regarding the company’s plans for this year, Ripple’s current status, the XRP token and the crypto industry.

Over the course of the interview, Garlinghouse declared that Ripple will become the crypto industry’s Amazon within a span of 5 years.

Crypto’s Similarity with the Gold Industry

According to Garlinghouse, both the XRP and Ripple are booming as of late. He specifies though that he does not focus on temporary price actions. He explains further that Ripple does not go after quick paybacks, but rather views his crypto business from a long-standing perspective.

Garlinghouse assuredly measured the crypto industry against the gold trades. Attempting to compare the two’s assets is a reach to some degree since the idea here is that crypto will soon flourish into trillions of USD in terms of market value. That’s almost the same manner as gold. Then again, the crypto industry has not even reached its’ 20th year yet; it is still a young business. Be that as it may, crypto’s actual market value totals in the billions.

The crypto business is a challenge, but quite filled with excitement. For the latest goings-on in the cryptocurrency industry, check for more content here on this site.

Growth Within the Crypto Industry is What Matters

The Ripple CEO believes his company will progress further and provide the best solutions for real-time gross settlement systems, remittance and currency exchange problems. Garlinghouse also stated that popular cryptocurrencies like Ethereum and Bitcoin are not competition and any progress made within the industry will help everyone.

Ripple expanded and employed 150 staff members during the bear market. At that time, there were lots of other projects who unfortunately, had to resort to layoffs. The Ripple CEO also mentioned the upcoming IPO of the company. However, he did not indicate any conclusive timeline of the course.

The company also has hopeful plans to get together with regulators for added clarity. He explains that regularity clarity will make the United States spearhead the crypto and blockchain industries.

The current value for the XRP totals more than 10 billion USD, according to Garlinghouse. Thus, a 10 billion USD estimate for an IPO for the company offers opportunities for its investors. Having an IPO allows Ripple more flex in terms of chasing after solid deals like their million-dollar investments in Bitso, a Mexican exchange, and Moneygram.

CBDC Can Help the Crypto Industry

The CEO added that CBDC or the Central Bank Digital Currency from China poses major advantages for the crypto industry and like other popular tokens, are not rivals. Garlinghouse believes that governments and central banks must determine the use of crypto and blockchain knowledges.

Amazon-Status Dreams

Garlinghouse made an example out of Amazon, a company that underwent massive growth in just a short span of time. He explains that the company first started out as an online seller of books, expanded beyond their initial product offers then went on to become the biggest name in e-commerce.

The CEO views Ripple in a similar vein as the aforementioned e-commerce giant. However, Garlinghouse also mentioned that the company’s priority at the moment is working out cross-order payment issues.

Garlinghouse says he has a hard time foreseeing the status of the crypto market in the next five years. He envisions lots of growth for Ripple though and providing real solutions for the company’s clients. Right now, the company is working with lots of inventive firms like Moneygram, the Saudi Arabian British Bank, SBI and IndusInd to further boost its impact and marketshare in the cross-border payments and remittances industry.

He says he hopes what happened to Amazon will also happen to Ripple in just a short period of time. The Ripple CEO asserts the company will first and foremost, function as a cross-border payments provider. Garlinghouse also added that the XRP will become the “Amazon of Crypto.”

Due to the fact that Ripple is open-source, he is amenable to the concept of CBDC’s launch courtesy of its blockchain. China’s Central Bank Digital Currency can influence the company’s technology for effective cross-border payments throughout diverse banking authorities. Any central bank that accommodates his offer will be something noteworthy indeed for crypto.

Just this year, the digital form of China’s fiat money was a popular topic at Davos, a yearly four-day convention organized by the World Economic Forum and held in Switzerland’s Davos-Klosters area. Some central banks of developing economies are currently doing research on the feasibility of launching their own digital currencies.

It was a striking interview about the dreams and hopes of a prominent name in the crypto industry. What are your thoughts about Ripple CEO’s Brad Garlinghouse regarding his plans for XRP and his company? Do share what you think below.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.

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