David Schwartz, the brain behind Ripple’s tech, has spilled the beans on his wishlist for the crypto world this year, and it’s refreshingly straightforward.
During a recent interview with Tony Edward on the Thinking Crypto Podcast, Ripple CTO David Schwartz shared his insights on four key aspects he looks forward to in the crypto space this year.
His main goals are regulatory clarification and the conclusion of Ripple’s SEC lawsuit. Schwartz noted the crypto community’s longstanding call for clear laws to reduce risks and safeguard investors. The lack of crypto rules has negatively impacted many new businesses to enter the crypto space. However, Schwartz was optimistic that the SEC v. Ripple action, which is currently in remedy, would be resolved in 2024.
Beyond regulatory matters, Schwartz highlighted the importance of improved scaling at the blockchain layer, emphasizing developers’ challenges and suggesting solutions such as sidechains and zero-knowledge-proof technologies for enhanced scalability.
Another significant aspect Schwartz envisions is the expansion of the crypto user base. He emphasized the need to create compelling user experiences, focusing on providing access to tokenized securities and collateralized lending to bolster interest in crypto. Within the XRP Ledger, Schwartz hoped that activating Automated Market Makers (AMM) would facilitate decentralized identity without stirring controversy.
In addition to these points, Schwartz is anticipating a surge in institutional adoption of crypto this year. Despite recent challenges, particularly with trading volume falling below expectations for approved Bitcoin spot exchange-traded funds (ETFs), Schwartz remains optimistic about the role of these ETFs in attracting institutional investors to the crypto space.
Overall, Schwartz’s expectations cover regulatory developments, technological advancements, user engagement, and institutional adoption, reflecting a comprehensive outlook on the current market. Meanwhile, XRP is currently in a bear trap, especially after the SEC’s recent filing of a security violation to turn the case upside down.
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