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More than 90% of crypto assets will crumble

Brad Garlinghouse is one of the most famous faces in the world of cryptocurrencies and blockchain. He is the CEO of Ripple, which developed XRP, the world’s third largest cryptocurrency. At the Fintech Ideas Festival, Garlinghouse talks with the CEO of PayPal about the future of cryptocurrencies.

To the question “Do you think that different blockchains will find each other? So, for example, that the Bitcoin Blockchain will work with that of Ethereum?”, the Ripple CEO replied:

No. There are more than 2,000 cryptocurrencies and, ultimately, this number of blockchains. I think that 99% of these tokens will disappear. Most of them, much of them, will not exist anymore. This is because many were developed without or unclear use case. For some, you can already see the decline due to the lack of liquidity. In the area of digital assets, liquidity is a critical success factor.

In the remainder of the interview, Garlinghouse mentions that he does not expect to be able to pay with XRP at Starbucks one day. The same applies to Bitcoin (BTC), because the dollar works very well, the Visa card works very well and Paypal works very well. For regions where the national currency is often unstable and residents do not want to keep that currency, the scenario could be different. However, replacing the dollar with Bitcoin, Ethereum or XRP is inconceivable to the Ripple CEO.

Published inCryptocurrencies

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