The cryptocurrency market has been steadfast in its march towards mainstream adoption recently, with several crypto-companies and its officials creating partnerships with established institutions recently. Ripple has been an example of cryptocurrency organizations teaming up with banks and other financial institutions.
In a recent interview, Brad Garlinghouse, the Chief Executive Officer [CEO] of Ripple, spoke about the company’s association with other parties in the space as well as the reasons why XRP will be a useful commodity. The Ripple official stated that XRP’s long-term growth will be evaluated by the problems it solves, something the users are clamoring for.
Garlinghouse went on to say that XRP solves real-world problems, just like how Ripple aims to provide seamless cross-border transactions. He went on to say that the cryptocurrency market is still in its nascent stages and the sheer number of speculations it is embroiled in is only because of its disruption rate. The CEO stated:
“Yes, there is a lot of speculation and hype about Ripple and the crypto community as a whole. What we need to do now is to separate the two from each other and focus on expanding the real world use cases.”
According to Garlinghouse, more and more companies are entering the cryptocurrency ecosystem because of how it changes a lot of processes for the better. He added that XRP’s services are a “1,000 times faster than Bitcoin [BTC] and a 1,000 times cheaper than Bitcoin”. The tech honcho also revealed that 2018 has been a massive year for Ripple, with the company partnering with two banks almost every week.
Brad Garlinghouse went on to say that financial regulators need to make decisions with clarity as it will have a lasting impact on the cryptocurrency industry. He stated that the launch of Bakkt by ICE, the parent company of the New York Stock Exchange, is a good sign of the industry moving in the right direction. He said:
“With organizations like Fidelity and Bakkt entering the space, regulators have to create an atmosphere of investing with certainty and clarity. This will enable rapid growth to occur throughout.”