During an interview with Internet History Podcast, David Schwartz, a renowned stakeholder in XRP and Ripple. He gave an analogy of a mildly harrowing situation for the adoption of cryptocurrencies. His view has also received backings.
According to Forbes’s Billy Bambrough, the supposed innovator of most of XRP’s and Ripple’s financial technology products. The adoption shouldn’t be prioritized over the technology. Although, the innovator didn’t openly say that the current crypto-centric tech is antiquated. However, his previous statements seriously connoted it.
Schwartz, known as Joel Katz on Twitter, then made a dichotomy between the early days of Dotcom and crypto today. He added that even the Internet, widely accepted as humanity’s greatest innovation, required a long time to attain its full maturity cycle.
The Ripple key player is most likely supporting the view that cryptocurrency infrastructure is usually underused. Structures like wallets, applications, and exchanges. They usually remain slow, expensive, and hard to interact with.
For instance, structures involving exchanges cannot be handled by most retail investors. And also those that have never engaged in financial markets before.
Crypto Adoption Sustains Growth Despite a Bearish Situation
Despite David’s comments, the adoption of crypto assets is certain. The growth surrounding this industry is also not in doubt. One of the largest blockchain and cryptocurrency institutions, Nasdaq, recently released an announcement. Informing the public about its involvement in the crypto market.
According to reports, the firm has begun work on its crypto 2.0 futures. VanEck, the company behind the leading Bitcoin ETF application, is about to bring such a vehicle to market by H1 of 2019.
Other key institutions are also moving in a similar direction. Bakkt is supported by the Intercontinental Exchange, Starbucks, and Microsoft is set to launch its physically-backed BTC futures contract by mid-January.
XRP And Ripple Also Experiencing Growth
XRP And Ripple have also experienced a fair share of adoption and real-world use. Although, in a centralizing system. American Express and one of its key employees, lauded Ripple’s technology. It has shown an improvement in how financial transactions take place around the world.
In a conference, Carlos Carriedo explains that blockchain is something AMEX has in its plans. Although, Ripple’s cross-border transaction system can praise for being very transparent and seamless.