XRP Adoption Challenges Revealed By Ripple CTO

Ripple and XRP continue to make headlines due to various achievements and important plans for the future.

The online publication Crypto News Flash brings up an XRP Community member who expressed their dissatisfaction on Twitter about the price of XRP.

At the moment of writing this article, XRP is trading in the green, and the coin is priced at $13,649.90.

Ripple CTO addresses the adoption of XRP

Anyway, the user mentioned above asked Ripple’s CTO, David Schwartz, if a comment that he made back in 2017 about the increased adoption of XRP would remain an unfulfilled prediction.

The user noted that an increase in acceptance is associated with a corresponding boost in the price of XRP as well.

Schwartz then responded that his comment was supposed to express the fact that Ripple will be implementing a strategy aimed at the increased adoption and it “will not wait for banks to introduce digital assets on their own initiative.”

The same online publication mentioned above also noted that the same user asked Ripple CTO about the reasons that would lead a bank to introduce an asset such as XRP.

He also raised the possibility of a “coordinated opposition operation” by financial institutions – this could render XRP practically useless.

Obstacles that slow down the adoption of XRP

Ripple’s CTO denied such a possibility and first explained the obstacles that are slowing down the adoption of XRP:

“Regulatory uncertainty, last-mile problems, fear of reprisals from existing partners, and so on. Another big thing is that the very best customers are ones that are going to use bridge assets to build new products,” he said.

He continued and pointed out that “They’re heavily motivated to see projects to completion and will push the benefits all the way down to customers. But in that case, even when they’re 100% ready to go, they still have 0 customers because the product is new. So it’s slow to get momentum.”

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.