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XRP Architect David Schwartz: Crypto Adoption should not go ahead with technology
In an interview with the Internet History Podcast, David Schwartz, one of the main protagonists of XRP and Ripple (the company) chief technology officer, has painted a slightly harrowing picture for the adoption of cryptocurrencies. As cited by Billy Bambrough of Forbes, the alleged multi-millionaire, who is praised as the creator of much of the functionality of XRP and Ripple's financial technology products, explained that he does not want "adoption to anticipate technology" .
While the San Francisco innovator did not explicitly declare the current cryptographic technology to be old-fashioned, his commentary mentioned above has certainly alluded to this. Schwartz, who goes around Joel Katz on Twitter, then traced lines in the early days of Dotcom and crypto today, explaining that the Internet itself, widely considered the greatest innovation of humanity, took "a long time" to experiment an adequate maturity cycle.
Ripple's executive probably alludes to the feeling that the cryptocurrency infrastructure, in particular portfolios, applications and exchanges, remains largely underutilized, as such products are often slow, expensive and difficult to interact with. Exchanges, for example, could be overwhelming for most retail investors, especially those who have never played in the financial markets before.
Crypto Adoption It grows, even in the bear market
Regardless of this, despite its comments, the adoption of cryptographic resources and the growth that surrounds this sector is undoubtedly present. Nasdaq, one of the world's leading financial institutions, recently announced that it is possible to enter the encrypted market. According to company representatives, the New York-based company began working on "crypto 2.0 futures" with VanEck, the company behind the main Bitcoin ETF application, and plans to bring this vehicle to market within the first half of 2019.
Other important institutional actors have announced similar incursions, with Bakkt, supported by the Intercontinental Exchange, by Starbucks and by Microsoft, which plans to launch its BTC futures contract physically supported by mid-January.
XRP, Ripple also saw growth
XRP and Ripple have also seen their fair share of adoption and use of the real world, although in (what some might classify as) centralized systems. R3 & # 39; Corda, for example, is a product focused on the open source company based on XRP technology. The program will allow R3 and its users to access a "settler", which will act as an intermediary between a wide range of fiat currencies issued by the government, cryptographic assets and future titles based on blockchain technology.
Even American Express, or at least one of its key employees, has recently praised Ripple's technology as a way to improve the way financial transactions happen around the world. During a conference, Carlos Carriedo of the world-renowned institute explained that not only is the blockchain looking at AMEX, but that the Ripple cross-border transaction system was "very transparent and uninterrupted".
And yet, while some of the XRP skeptics are not in line with Ripple's business practices, the fact is that cryptographic technologies have seen an increase in adoption, even though blockchain-based assets remain depressed in price terms. . This, in and of itself, could be considered a positive long-term signal for this industry of only ten years, which arose when Satoshi Nakamoto launched Bitcoin for the first time.
Image of the XRP website Courtesy of Marco Verch on Flickr
