Wednesday, at this year’s World Economic Forum (WEF) Annual Meeting in Davos, Switzerland, Ripple CEO Brad Garlinghouse spoke with CNBC senior technology correspondent Arjun Kharpal about a variety of crypto-related topics (25 May). Several excerpts from the interview with Garlinghouse are presented below.
2017-2018: The Year Of The Initial Coin Offering
Stablecoins may have emerged as a result of the ICO boom, but I do not believe it was beneficial for cryptocurrency as a whole. My controversial prediction at the time, when there were only 2,000 cryptocurrencies instead of the current 19,000, was that 99 percent of all cryptocurrencies would eventually become worthless.
There are currently 19,000 Since there are now 19,000, it appears that I was gravely mistaken at the time. I mused. We made a complete U-turn as a result… However, as first-generation technologies evolve into second-generation technologies, I believe specific use cases for specific solutions will become more prevalent.
In Relation To Nfts
Regarding the NFT market, “And look, I think we’ve seen what’s going on in the NFT market.” However, in certain instances, the gas fees for NFTs can be prohibitive. The technologies comprising the first network layer may not support NFTs of the first generation. And I believe we’ve discovered that it’s highly unlikely. NFTs are unlikely to disappear in the near future, so we must find new ways to support them.”
In Terms Of Cryptocurrency Laws
The Ripple team has stated for years that the industry lacks clarity and certainty.
“The vast majority of crypto workers are good people who want to do the right thing by regulators, but it is difficult to operate within rules that are not clearly defined.
Therefore, entrepreneurs and investors require clarity and certainty in these markets in order to participate “This is something the United States has been begging for. Four or five times in the years preceding their decision to file a lawsuit alleging that XRP… [is] security, I visited the US SEC office.
From the perspective of other G20 nations, it is evident that the United States is falling behind. I believe investors and entrepreneurs in Switzerland, Singapore, Japan, the United Kingdom, and the United Arab Emirates will be able to capitalize on these technologies.”
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