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Ripple CEO Predicts Price of Bitcoin Won’t Go to Zero

  • Darryn Pollock
    🤷 Opinions

    Despite the negativity from Davos, Ripple’s CEO is bullish on XRP and also says that Bitcoin’s price will not go to zero


Ripple CEO Predicts Price of Bitcoin Won’t Go to Zero
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Davos has been in the mainstream media headlines this week, but it also crossed into the cryptocurrency space when Jeff Schumacher, the founder of BCG Digital Ventures, said that Bitcoin could nosedive to zero.


However, there has been a reaction to this from a fairly unlikely source as Brad Garlinghouse, the CEO of Ripple, countered that argument, coming to the support of the major decentralised cryptocurrency.

Bitcoin and Ripple have often been at loggerheads, especially in terms of their users and fans, who find themselves at odds on the benefits of either coin. However, Garlinghouse, who was supposed to hold a Roundtable with the head of SWIFT, admitted he still holds Bitcoin.

Garlinghouse went on to say that blockchain technologies will improve the conditions under which social, banking and industrial relations operate.

Not going to zero

Garlinghouse pointed out that because of its characteristics Bitcoin is very likely to be considered a digital store of value instead of an actual currency in the future. Comparing Bitcoin with XRP, the CEO is sure that its technology improves Bitcoin in terms of scalability and costs. However, he admitted having money invested in Bitcoin and denied that BTC is going to zero.

“If you take Bitcoin as it exists today as a static thing, the scalability problems and proof of work as a model have some real significant limitations,” Garlinghouse said. “There’s lots of people trying to improve that. Maybe they’ll be successful. Maybe they won’t. I’m not prepared to say Bitcoin goes to zero. I still own Bitcoin partly because it may become just a store of value.”

“However, at Ripple, we build upon a technology called XRP because it’s extremely scalable as compared to Bitcoin. It’s extremely low-cost and extremely fast relative to how Bitcoin works.”

Rewire the modern financial infrastructure

Garlinghouse went on to explain that we are on the precipice in terms of revolutionising the modern financial infrastructure, and blockchain is the tool on which to build the next iteration of it.

“There is an opportunity to fundamentally rewire how modern financial infrastructure works in the pre-funding,” the CEO added. “You have about $10 trillion pre-funded to banks around the world in order to enable cross-border payments.”  

“If you could take advantage of crypto liquidity to fund real-time payments, you could actually take that $10 trillion and use it for other purposes, which is great for society. It’s great for banking. It’s great for industry. So that’s what we’re trying to rewire. We’re lucky to now have about 200 banks that have signed up. We’ve got a long way to go.”

Institutionalised suspicion

Cryptocurrencies have been a topic at Davos for two years running now, but it is fair to say that this year they are being viewed with more suspicion than the last time after falling in price substantially.

However, it is quite a superficial view as these institutionalised members of the global financial market are finding it hard to look past the price alone. As Garlinghouse is at pains to point out, blockchain offers a real chance for a flawed financial system to get a much needed revamp.

Cover image via u.today
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Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology

  • Darryn Pollock
    🤷 Opinions

    Blockchain adoption by billion dollar companies is probably a lot further along than expected as Forbes has revealed


Blockchain Adoption Uncovered by Forbes as Billion Dollar Companies Buy In to Drive Technology
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Forbes has recently released a list of 50 companies utilizing blockchain technology that are valued at over a billion dollars, these companies include the likes of Amazon, Microsoft, IBM, as well as less technical ones such as BP and Walmart.

What is surprising about the list is just how broad the scope of interest is when it comes to blockchain by these massive global companies. The adoption of blockchain, over the last 10 years, has been relatively slow, up until now.


But, in 2019, it seems that the future of technology has been laid out and to get a competitive edge these companies realise that there is a lot that can be done with blockchain and that they need to get their foot in the door.

Heavy hitters

While the Forbes list paints a grand picture of blockchain adoption, it also shows just how far along in the process some of these companies are. For companies to have made it onto the list, they have to have been using blockchain in some sort of effective and tangible way.

There are some, like insurance giant MetLife, which already has a working blockchain, and product, that has been going since 2014. Back then, the adoption of blockchain by major companies was not even heard of – it was more about the starting boom of Bitcoin.

But blockchain is the new leader in the space, taking over the batton from cryptocurrencies which certainly helped raise the profile of the entire ecosystem. If it was not for the cryptocurrency boom, a lot of these major companies would never even have stumbled across the underlying technology.

A drive for blockchain

Now, with the cryptocurrency market right back down again, and a lot of the speculation having been cleared out, there has been a whole year of rather focusing in on blockchain building and its application, instead of making money off speculative tokens.

That change in mindset has really helped major corporations take on the technology and begin experimenting with its efficiency and disruptive powers. There is almost an arms race going on as the advantages the technology can give across a huge spectrum of enterprises, which are massive and very coveted.

A need for enterprise investment

There still remains a debate as to whether blockchain, and crypto, with its decentralised nature, is in need of these major corporations coming in to monopolise the space which was born out of defiance of banks.

However, it would be foolish to think that blockchain can reach its full potential without a drive from big companies with big budgets. Smaller startups and companies are able to bring innovation and excitement to the space, but the mass adoption will only come when the heavy hitters are involved.

Cover image via 123rf.com
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