In the latest “Ripple Drop” episode, Ripple team of executives reflected the 2019 and shared their predictions in regard to what 2020 will bring to the crypto industry.
In this episode of the #RippleDrop, members of our executive team, including CEO @bgarlinghouse, reflect on the impact of #blockchain technology and digital assets over the past decade and what’s ahead for 2020. https://t.co/CfWlahfYAp pic.twitter.com/jXJPS64vNO
— Ripple (@Ripple) December 26, 2019
Ripple’s CEO, Brad Garlinghouse, again stated that he thinks the cryptocurrency industry will see some sort of consolidation in the future. Brad’s opinion is that there is simply no need for thousands of cryptocurrencies, so we will witness “a migration to quality” rather than quantity in 2020.
“I think you are gonna continue to see consolidation. Yeah, the world doesn’t need 3,000 plus cryptocurrencies out there, and I think the utility will bear out that there will be a migration to quality if you will.”
The most important moment for Brad in 2019 was when he learned that MoneyGram CEO Alex Holmes praised Ripple’s On-Demand Liquidity (ODL) product. Ripple’s CEO revealed that it took a year for MoneyGram to become strong supporters of Ripple blockchain technology.
Having spent maybe a year talking to the leadership team at MoneyGram and seeing the transition from skepticism to significant advocacy over the course of the year was really profound. There was some doubt initially and then for them seeing On-Demand Liquidity solve a real problem and hearing them talk about the work we’re doing with them on their earnings calls was certainly a big “aha” and very gratifying event in 2019.
In principle, the company’s CTO David Schwartz agrees with Brad Garlinghouse that priority should be with quality use cases of blockchain projects, rather than a number of digital assets available. Schwarz is confident that those blockchain technologies that can solve actual problems and improve lives will be ones to stay long term.
“But I think we are going to more growth of blockchain into different use cases. I think the focus is going to be on, can you solve the actual problem?”
SVP of Customer Success, Marcus Treacher, revealed that Ripple’s expansion and growth were the biggest surprises for her in 2019.
What surprised me was the pace in which we were able to grow a global network, RippleNet, by connecting banks and payment companies. We saw a tremendous uptick in volume, activity and onboarding of global companies.
Image source: Flickr