‘Hottest’ Crypto Predictions from Ripple Executives! – Cryptokoin.com

The famous blockchain company Ripple expects cryptocurrencies and blockchain technologies to really come into their own in 2023. Here are the expectations of some executives with important duties at Ripple regarding cryptocurrencies in the new year…

Ripple executives talked about what will happen in 2023

According to Ripple’s blog post, they expect the industry to shift from speculative businesses to businesses using crypto technologies to address real problems and unmet consumer demands. They also predict an increase in the use of CBDCs and NFTs. There will be a growing interest in crypto’s environmental impact and sustainability, and its continued adoption by institutions is expected.

Sendi Young, Managing Director of Ripple Europe and the UK, believes that CBDCs will expand their position as central banks empowerment and a driver of financial inclusion. He also believes that it will accelerate institutions’ long-term adoption of crypto solutions despite the market decline due to potential improvements in efficiency, transparency and speed.

Positive prospects for NFTs, CBDCs and Ripple’s payment network

Ripple’s vice president of central bank contracts, James Wallis, said the company plans to launch more pilot projects with CBDCs around the world to test innovative ways to increase cross-border payments. Ripple CTO David Schwartz predicts that next-generation NFTs will highlight practical applications in areas such as the real estate and carbon markets. He says these applications will decide the success of the use cases and whether NFTs become a permanent fixture as they promote efficiency and transparency in ownership.

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Brooks Entwistle, Senior Vice President and Managing Director of Ripple APAC, likens the current state of the cryptocurrency industry to a “dotcom bubble.” Ken Weber, Ripple’s Vice President of Impact, believes that crypto can serve as a cross-border payment mechanism when traditional financial corridors are compromised or ineffective, so large nonprofits (NGOs) are using crypto to better serve the financially vulnerable. waiting for it to start.

Sendi Young detailed her predictions

On January 9, 2023, Young posted his 2023 predictions in more detail on Twitter. According to Young, despite the current bear market, institutional adoption of blockchain technology and crypto assets is expected to increase as companies continue to explore and launch pilot programs. The industry may see consolidation as financially stable companies make acquisitions to fill gaps in their own capabilities and as a result of the recent collapse of FTX and other companies. Additionally, according to Young, there could be an increase in the number of crypto and blockchain firms being acquired by traditional financial service providers and established companies from other industries.

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As consumers and policymakers place greater emphasis on sustainability, the environmental impact of Blockchain and the energy consumption of Blockchain solutions will be further examined. To address this, tokenization of carbon credits and adoption of less energy-intensive Blockchain systems may become more common. Also, according to Young, stablecoin usage is likely to increase in 2023 as institutions seek to leverage the benefits of blockchain technology, such as real-time trade agreements.

Regulation of the crypto industry is expected to come to the UK and Europe. After the UK’s Financial Services and Markets Act comes into effect, regulators will develop a clear regulatory framework to support the development of the crypto-asset sector. Meanwhile, cryptocoin.com As we have reported, the EU’s Crypto Asset Markets Act (MiCA) is expected to pass the European Parliament.

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