In a recent video shared by popular crypto influencer Brett, Ripple's CTO David Schwartz shared his views on the current state of the industry and the paths for its future development.
Key Points in Blockchain Technology Implementation
Schwartz emphasized that institutional involvement must precede retail adoption. "Institutional adoption is a precursor," he stated, adding that true scalability can only happen with the support of major institutions.
The Importance of Real-World Integration
Schwartz also highlighted that for blockchain technology to serve unbanked and underbanked populations, it must enable them to engage in real-world transactions. "They have to be able to spend their money to buy groceries and pay their phone bill," he noted.
Ripple's Role in the Transition to Mass Adoption
According to Schwartz, the current momentum among institutions will pave the way for widespread use of blockchain technology in the next one to two years. He suggested this would lead to more inclusive access to financial tools. Moreover, a recent Coinbase report showed that XRP is attractive to financial institutions.
Schwartz emphasized the importance of aligning blockchain innovations with the traditional financial system, viewing it as a necessary foundation for future development.
