March 28, 2024

Ripple CEO: The government is serious about cryptocurrencies

Ripple CEO Brad Garlinghouse said that governments are now looking at the cryptocurrency space as a solutionProblem, including with the transparency of payments.

A year ago, many people considered cryptocurrenciesfraud, most governments are now taking blockchain seriously. It provides transparency, which was previously considered a DIFFICULT solution to implement. The crypto market has grown by 80%, and the US dollar has fallen by 3% since the beginning of the year.

Gaplinghouse added that even despite the fact thatThe market is growing at 80% relative to the March minimum, there is no chance that digital currencies will replace the US dollar in terms of the global reserve. In his words, gold also does not take the position of the US dollar.

The US dollar is the world's reserve currency,However, the current pandemic of COVID-19 has hit the world economy hard, weakening the position of the currency. Along with that, bitcoin and other digital assets survived the crisis. Currently, the leading cryptocurrency is trading at the level of $ 11,600 and does not show any signs of delusion.

In the words of Gaplinghaus, a global interpretationThe cryptocurrency phenomenon is a question of time, because most people have lost confidence in fiat currency. This process can also move the technology of the blockchain into the center of attention.

At the end of the day, everything is reduced to trust tofinancial system. As the world continues to gain confidence in fiat currencies (as we will observe this with the US dollar), diversification is likely to occur. Our future global financial system will do the same, - noted Gaplinghaus.

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