Advertisement
AD

Main navigation

Ripple Top Exec Shares Eight Crypto Predictions for 2023, Here's Surprising Aspect

Advertisement
Mon, 9/01/2023 - 10:40
Ripple Top Exec Shares Eight Crypto Predictions for 2023, Here's Surprising Aspect
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Sendi Young, Ripple's MD for Europe, is very optimistic about what this year of 2023 might bring for the crypto industry. According to her, 2022 was a monumental year for crypto, with "many highs and many lows." Interestingly, Young foresees greater crypto adoption this year despite the industry failures that marked the prior year.

Advertisement

First, 2023 might see institutional adoption of blockchain and digital assets accelerate as corporations launch pilots and continue to investigate the technology.

Second, Young predicts increased crypto industry consolidation as healthier companies make acquisitions to plug gaps in their capabilities. Third, in 2023, there might be an increasing trend for cryptocurrency and blockchain firms to be acquired by traditional financial services players as well as established companies from other sectors.

Fourth, Ripple's top executive expects the sustainability credentials of crypto and blockchain to see continued scrutiny by consumers and policymakers. She believes greater sustainability will be achieved with less energy-intensive blockchains and blockchain-enabled solutions, such as the tokenization of carbon credits.

XRPL was the first major blockchain to become carbon neutral, and its use of consensus makes it much more energy efficient than proof-of-work blockchains.

Related

As reported, Ripple announced a $100 million investment in fighting climate change in the past year.

CBDCs and regulation

Young believes CBDCs will be mature by 2023, as several non-European countries have already publicly committed to launching pilots. Ripple has been making headway in this regard, with its notable partnership with Bhutan's central bank to pilot a central bank digital currency (CBDC).

Also, 2023 will witness the greater adoption of fiat-backed stablecoins as institutions realize the greater benefits of blockchain technology, such as real-time merchant settlement. The creation of new non-USD fiat currencies will also drive this trend, according to Young.

Related

Lastly, the Ripple executive predicts the entry of crypto regulation in the UK and Europe, and also that MiCA will finally be passed by the European Parliament.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD