Ripple is working hard, as can clearly be seen from their roadmap. During the CoinDesk Consensus Conference, the company’s CTO, David Schwartz, insight into Ripple’s strategy. The significant focus on decentralized finance (DeFi) is striking.
One of Ripple’s goals is to enable institutions to create highly regulated financial products, such as traditional loan portfolios, that integrate with DeFi ecosystems. An example of this is a regulated financial entity that issues conventional loans for real estate or business purposes. This debt can then be tokenized and made tradable within the DeFi system.
DeFi systems automate many processes that are traditionally manual and time-consuming, such as handling transactions and managing loans. This can lead to lower operational costs and higher efficiency for financial institutions.
The route to mass adoption
Schwartz emphasizes that institutions are crucial to the mass adoption of crypto, similar to how the internet initially benefited from government and military use, which eventually led to widespread adoption by the general public.
He is excited about the trend of institutions not only adopting blockchain technology, but also offering their customers access to blockchain-based services. This means customers can directly benefit from the benefits of blockchain, such as improved transparency, lower costs and faster transactions. This could eventually accelerate blockchain adoption as more people become familiar with the technology and experience its benefits.
The enormous potential of XRP
If XRPL becomes the blockchain on which large companies run their services, this could lead to a significant increase in the XRP price. According to crypto analyst EGRAG, the digital currency has significant growth potential. He compares the current investment in XRP to early investments in tech giants such as Apple, Tesla, Google and Amazon.
EGRAG points out that Apple shares were worth just $0.50 in 1989, but are now worth almost $190, a growth of more than 37,500% in 35 years. Google and Tesla have experienced similarly impressive increases. EGRAG predicts that XRP could be worth more than $105 by 2050 if widespread adoption is achieved. Shorter term, he sees a target of $27, which would represent a 5,000% upside.
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Source: https://newsbit.nl/ripple-zet-flinke-stappen-richting-defi-adoptie/
