Ripple’s XRP, Bitcoin And Other Digital Assets Will Not Reach Mass Adoption As Currencies
Ripple CEO Brad Garlinghouse has a prediction that is not too optimistic regarding the mainstream adoption of cryptos.
Despite the high volatility of the crypto market, there have been a lot of positive predictions involving BTC that popped up in the crypto space.
XRP, BTC, and cryptos won’t hit the mainstream soon
Now, Ripple CEO said that he doesn’t think digital assets such as BTC and XRP will be used by the consumers anytime soon.
In other words, he doesn’t think that mass adoption will take place.
In a new interview at The Economic Club of New York, Garlinghouse says he thinks the primary initial use case for crypto assets will be in the world of enterprise cross-border payments.
But he doesn’t think people will be paying for goods and services with crypto on a large scale in the near term.
“XRP, in my judgment, and really any crypto – I don’t think the use case is a consumer use case today. I imagine some percentage of the people in this room, before coming this morning, stopped at Starbucks. And you had no trouble paying. You used a Visa. Maybe you had dollars in your pocket, I don’t know,” he said as cited by the online publication the Daily Hodl.
He continued and explained, “But it worked. And so when people talk about using crypto for a consumer use case, I go to the – well, what problem are we trying to solve? If there’s not a problem, then let’s not force change into it. People aren’t going to adopt a new thing unless it’s helping you in some way.”
Ripple has an upcoming conference
Not too long ago, it was reported that Ripple is looking forward to its upcoming conference.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.