Advocating for a Multichain Future
While some in the crypto space argue for a single blockchain, Ripple CEO Brad Garlinghouse believes that the future will consist of multiple blockchains working together. Speaking at the Ripple Swell 2023 event in Dubai, Garlinghouse actively discouraged the idea of maximalism and emphasized the importance of a multichain world. He stated, "I am very bullish about a whole bunch of different things going on in crypto. I certainly am active in trying to dissuade people from being maximalists about any particular crypto. It will be a multi-chain world."
Driving Institutional Adoption
Garlinghouse also discussed the catalysts that could drive institutional adoption of cryptocurrencies. He highlighted two key factors: clear regulatory frameworks and demonstrated utility. According to Garlinghouse, the United States is lagging behind in creating clear rules for the crypto industry, while jurisdictions like Dubai are engaging with the sector more constructively. He stressed the need for frameworks that allow big institutions to adopt and engage with cryptocurrencies.
The Importance of Demonstrated Utility
Garlinghouse emphasized that the goal of crypto should be more than just speculation. He believes that demonstrating utility is crucial for further institutional adoption. Speculation alone is not the "promised land" in his view. Garlinghouse stated, "You also have to have that demonstrated utility because if it’s just speculation, that is not, in my judgment, the promised land."
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