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Brad Garlinghouse, CEO of Ripple, recently appeared at the FinTech festival in Singapore to talk about the normative atmosphere in the blockchain space and cryptocurrency. In a discussion with the added international monetary councilor Ross Leckow, Garlinghouse spoke about the ASEAN markets and their role in the Ripple plan to create the Internet of Value.
He began by saying that there is a "number of unique things" occurring in these countries that are worth recalling, as well as the impact of regulatory clarity on the adoption of blockchain and digital resource technology. Citing Singapore as an example, Garlinghouse said that it is a country that has done a lot to be a "leader in this space". He went on to explain how regulatory clarity has allowed the market to invest in space. Elaborate Garlinghouse:
"Thailand would be another country that we have seen explicitly and explicitly legalized and approved digital resources including XRP, we have seen some of the same activities in the Philippines."
He also said that the first dynamic of the regulation that has influenced the adoption of blockchain in Asian markets is regulatory clarity, which remains important. He said it was surprising to see how many markets have a lot of uncertainty, even if there are real cases of using visas and real problems or solved customers. He has declared:
"If we can have that normative certainty and I'm talking about Ripple but I'm also talking about other companies in this space, the more quickly we can see the adoption of these technologies".
He also offered his views on the dynamics that could stimulate the adoption of blockchain technology and digital assets. Secondly, he also talked about how ASEAN countries have almost $ 130 billion in inbound remittances, which cause expensive taxes for the daily population. He went on to say that the market is "ready for adoption to exploit the blockchain". He added:
"This is really interesting to see here in the Asian markets, because in some ways the current and enabled Swift bank service leaves behind some of the ASEAN markets.The banks have contracted the corresponding banking relationships. It has made this ASEAN market a mature market for the adoption of blockchain technologies and digital resources, Ripple now sees 50% of all our global customers here in the Asian markets, our Singapore office is grew dramatically by around 200% last year ".
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