David Schwartz, the CTO of Ripple, expresses strong confidence in mass institutional adoption of blockchain, considering it a key driver for technological development.
Institutional Adoption as a Precursor to Retail Growth
Schwartz highlighted the importance of institutional involvement, stating that it must precede retail integration. He pointed out that retail integration alone cannot drive the force, adding, 'You have to connect to the existing system where all the value is.'
The Importance of Institutional Connectivity
Schwartz noted that successful blockchain implementation requires compatibility with existing structures. He emphasized, 'The real world is trillions of dollars in value. You can't just say, forget about all that, let's build something new over here.' He believes the next one to two years are crucial for institutional adoption.
Financial Inclusion and the Path Forward
Schwartz touched on financial inclusion, noting that blockchain-based solutions must integrate with existing economic systems. He expressed confidence that there are no obstacles to adoption, and the industry is moving forward.
David Schwartz's statements underscore the importance of institutional involvement for global blockchain adoption, aligning with the industry's priority on regulation and integration with traditional markets.
