June 17, 2024

The cryptocurrency market will consolidate in 2020, says Ripple Director

The cryptocurrency market will consolidate in 2020, says Ripple Director

On December 26, the blockchain startup Ripple published a forecast for the development of the crypto industry from the company’s leaders.Managers believe that a bright future will not come for all digital assets.

Ripple Director Brad Garlinghouse suggests that in 2020, the cryptocurrency market will consolidate:

The world doesn't need over 3,000 different virtual currencies, and I think the “utility” digital assets will become a catalyst for the transition from quantity to quality.

According to Ripple CTO DavidSchwartz, leading positions in the crypto industry will be taken by projects that solve existing problems and help improve people’s quality of life. Schwartz agreed with Garlinghouse's position and added that the term “quality” in relation to cryptocurrencies, it means the level of their value for society and business.

Senior Vice President of InvestmentRipple Xpring division Ethan Beard is convinced that blockchain and cryptocurrencies can replace the current global financial infrastructure. However, Xpring Vice President of Customer Services Marcus Treacher predicts that blockchain will merge with other advanced technologies that will play an important role in enabling the Fourth Industrial Revolution. Vice President of Marketing Monica Long predicts the development of a digital space called the Internet of Value, through which Internet users will be able to trade different products.

In December of this year, Xpring released a newXRP payment system integration platform, which now supports two programming languages ​​- Python and Go. In addition, the company has developed an improved version of the crypto wallet, simplifying the process of managing the balance and tracking transaction history. On December 11, Beard announced that on November 23, a record for the number of money transfers was set on the XRP blockchain: 4 million per day. Ethan noted that over half of the total number of transactions completed on all blockchains combined was performed on the XRP network.