Too Many Crypto Assets Exist: Ripple CEO Brad Garlinghouse

Too many crypto assets exist in the crypto space according to the CEO of Ripple Brad Garlinghouse. Though volatility will likely continue, there will be bullish trends visible for the entire crypto market as he stated so let’s find out more about his opinions in the Ripple cryptocurrency news.

Brad Garlinghouse was in an interview when he commented that there are too many crypto assets out there.
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There are about 3,000 different digital assets that are trading on a daily basis and he explained further:

 “I agree with you. There are too many. I think any time there’s a new market, there’s a lot of people running to that market and try to show they can solve a problem, they can deliver a customer need – I have said publicly before that 99% of crypto probably goes to zero, but there is that 1% that is focused on solving a real problem for real customers and is able to do that at scale. This is what’s going to be game-changing,  and it will continue to grow significantly in the decades ahead.”

Garlinhouse shared some other interesting opinions during the interview. He said that his company looks at SWIFT as a company that has worked out how to conduct cross-border payments but that there is always a way to bring that system into the modern age of internet in which people can expect speed and convenience where the SWIFT transactions can also take days without the ability of the sender and receiver to track it.

Furthermore, regarding the stability of the crypto market, the CEO stated that ‘’the volatility risk is lower with XRP transactions. ‘’ He compared with the SWIFT system and found that there is ‘’false narrative’’ and that the volatility is a calculation of both the time and volatility of enabling the SWIFT transaction to a much higher level than enabling an XRP transaction since it only takes seconds to complete.

SWIFT might not agree since it stated that the company and the platform are not scared of blockchain and have been overhauling the network over the past couple of years so the payments are already made within minutes or even seconds. The CEO of Bitspark George Haarp who already utilizes blockchain technology argued that Ripple is not useful still because other systems are simply better.

Ripple is also facing some competition from Visa B2B Connect and IBM blockchain world wire which have expanded in more than 60 countries with high-profile partners in the financial ecosystem.