Ripple’s CTO, David Schwartz, Expresses Optimistic Outlook for Crypto in 2024
David Schwartz, the mastermind behind Ripple’s technology, has revealed his wishlist for the cryptocurrency world this year, and it’s refreshingly simple.
During a recent interview with Tony Edward on the Thinking Crypto Podcast, Ripple’s CTO David Schwartz shared his thoughts on four key aspects he is looking forward to in the crypto space in 2024.
His main goals are regulatory clarity and the resolution of Ripple’s SEC lawsuit. Schwartz acknowledged the long-standing demand from the crypto community for clear laws to reduce risks and protect investors. The absence of crypto regulations has had a negative impact on many new businesses entering the crypto space. However, Schwartz expressed optimism that the ongoing SEC v. Ripple case would be resolved this year.
In addition to regulatory matters, Schwartz emphasized the importance of scalability at the blockchain layer and the challenges faced by developers. He suggested solutions such as sidechains and zero-knowledge-proof technologies to enhance scalability.
Schwartz also envisions the expansion of the crypto user base as a significant aspect. He stressed the need to create compelling user experiences, particularly by providing access to tokenized securities and collateralized lending to generate interest in crypto. Within the XRP Ledger, Schwartz hopes that activating Automated Market Makers (AMM) will enable decentralized identity without causing controversy.
Furthermore, Schwartz anticipates a surge in institutional adoption of crypto this year. Despite recent challenges, such as trading volume falling below expectations for approved Bitcoin spot exchange-traded funds (ETFs), Schwartz remains optimistic about the role of these ETFs in attracting institutional investors to the crypto space.
Overall, Schwartz’s expectations encompass regulatory developments, technological advancements, user engagement, and institutional adoption, reflecting a comprehensive outlook on the current market. Meanwhile, XRP is currently in a bear trap, especially following the SEC’s recent filing of a security violation, which has turned the case upside down.