The CEO of Ripple Labs says that in order for the crypto industry to drive mass adoption it needs to focus on one key aspect.
In a new interview at the XRP Ledger Apex 2024 event, Ripple Labs head Brad Garlinghouse says that for the crypto industry to grow exponentially real use cases need to be developed.
“Customers don’t care which technology you’re using. They want their problem solved…
One of the things I certainly talk a lot about in the crypto macro ecosystem is we got to focus on utility. We got to focus on problems. If we’re just focusing on kind of hype cycles or speculation that’s not sustainable over the long haul. And I think certainly what Ripple is trying to do is treat it that way. Be clear about who our customer is. Be clear about what problem we’re solving for them.”
Garlinghouse also says that the United States has fallen behind other countries in terms of establishing clearer crypto regulations.
“The US market remains, frankly, a laggard, the US regulatory environment – even though Ripple is at the tail end of that. And I think it’s strange to me that XRP is in such a unique position and that the market hasn’t kind of rewarded that. XRP in the US is one of the few things we can say definitively is not a security. With ETH, I don’t know how that’s going to play out…
It’s super frustrating. It’s not just the SEC (U.S. Securities and Exchange Commission). The United States current administration, with Gary Gensler as the head of the SEC, has been pretty hostile towards crypto.”
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