Ripple CEO, Brad Garlinghouse appeared in front of an audience at the 2018 Stifel Cross Sector Insight Conference to share his thoughts on the long-term impacts of Ripple’s technology and future of cryptocurrency mass adoption. Tech Analyst, Lee Simpson, interviewed  Garlinghouse at the 2018 Stifel Cross Sector Insight Conference and divulged his thoughts on the current cryptocurrency landscape.

In the scope of industry applications and global adoption, Garlinghouse addressed misconceptions about Ripple disrupting banking. Garlinghouse explained that decentralized technology would supplement rather than disrupt current banking systems: “Blockchain will not disrupt banks it will play an important role in the way our system works.

It’s a short-sighted view” Ripple, as a payment remittance network and gross settlement system based on the blockchain, aims to transform the way that banks and people transfer money around the world. Describing the long-term goals of the Ripple platform, Garlinghouse stated: “There are millions unbanked or underbanked When I think about the transformation, it is fundamentally changing the way millions participate in banking.

We can fundamentally change the way this works, to bring an entire population up a step in the system.” Denouncing Bitcoin as the future global currency, Garlinghouse made clear that Ripple aims to surpass Bitcoin through faster transaction speeds and applicability in the banking marketplace. Garlinghouse turned to the crowd and shared his thoughts on Bitcoin: “Bitcoin today takes 45 minutes to settle a transaction A number of prominent people, even Steve Wozniak, has said that he sees a world where Bitcoin is the primary currency.

I think that’s absurd. I don’t think that any major economy will allow that to happen. Read more from cryptoslate.com…

thumbnail courtesy of cryptoslate.com