Ripple CEO Brad Garlinghouse considers that his company will overtake cross-border payments with solid CBDC support in the next 5 years, thus, becoming the Amazon of the crypto industry.
Ripple CEO Brad Garlinghouse thinks that the blockchain sphere is here to stay and grow to the CBDC level. Let us also remind you that the CEO attended the conference in Davos, where the talks were about how many of the Central Banks consider being ‘ahead of the curve’. Ripple is open to the regulators and business, hence any Central Bank can ask them for help. Ultra-fast, cross-border payments could lead to Ripple becoming Amazon in five years. This was noted in the recent interview with CNN.
“I hope that in 5 years we’re not just Amazon books, we’re Amazon.”
Brad said that Amazon had an awesome path to success. Starting within the narrowed bookselling industry, the company’s workers and managers brought it to the top of the e-commerce domination list, over several years. CEO Amazon Jeff Bezos is one of the three richest people on Earth.
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Per Brad, the crypto market is too unpredictable, so any longtime forecast is somewhat impossible. According to him, Ripple will definitely continue its growth, because it has the solutions for the market. While many other currencies will soon face harsh regulations, Ripple’s ‘pre-regulated’ network will roll faster. Worth noting that during the bear market, Ripple hired 150 more workers.
During the same period, people were losing jobs in the crypto space, and the market was under fire from regulators, hackers, and journalists. The invasion of scammers is also the major factor constantly decreasing the price of Bitcoin and altcoins.
While uncertainty grows, Ripple makes partnerships with big players like MoneyGram. Also, the Saudi Arabian British Bank, IndusInd, SBI and a hefty of other giants want to work using Ripple’s fast cross-border payments. Per Brad Garlinghouse:
“Once regulators understand you’re not circumventing regulatory frameworks they get very comfortable very quickly.”
Projects such as Coil even allow micropayments within the Ripple network. It also has a broad infrastructure for cross-border banking, sending loans in a rapid manner, and so on. More than 100 banks already use Ripple, while the critics continue claiming that the coin is ‘dog shit’. More or less, certainly, it’s not the truth, as their office is one of the 50 best offices in the Bay Area.
What did the Ripple skeptics reach compared to this? Brad has been inking deals through the years, absorbing contacts, moving the regulated cash and envisioning the future of payments during Ripple’s famous ‘happy hours’ with wine and talking.
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Per his vision, the future CBDC’s payments could be handled well via Ripple’s blockchain. So far, the company attracts only private companies as clients. They like that Ripple’s network for banks (not the XRP token) is clean of the shady money. Also, it allows for damn fast transactions compared to traditional wire transfers.
Andreas Antonopoulos claimed during a Joe Rogan Experience Podcast that the German Bundesbank could send you a wire transfer that arrives after four weeks. Depending on the jurisdiction, your company could find itself with limited offers. Per Brad:
“I think it’s really healthy and constructive for the entire crypto blockchain community to see central banks and central governments lean into what can these new technologies do to make our economy more efficient,”
How to legally transmit money abroad and back, in minutes? Here, Ripple’s network for institutions is handy, leveraging a ton of transactions in a very fast manner. The positive stats showed that Ripple can reach the top of the cryptocurrency market and throw a shadow on Bitcoin‘s now undoubted dominance.
Jeff Fawkes is a seasoned investment professional and a crypto analyst covering the blockchain space. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.