Ripple CEO revealed to Bloomberg his anticipation on the future of cryptocurrencies. According to Brad, the majority of the virtual coins will probably become worthless in the next prospect. He highlights the ascended hype in the crypto ecosystem prevalent in the past times as the real problem with the digital assets.
Garlinghouse cites that out of three thousand plus crypto coins being traded daily, 99 percent of them would probably go down to zero value. The CEO further states that only one percent of the existing coins will prove to be game-changers as they operate to solve the real problems.
“There are more than 3,000 digital assets that trade on a daily basis now,” he said, adding that “99 percent of crypto probably goes to zero, but there is one percent that is focused on solving a real problem for real customers and is able to do that at scale, and that’s going to be game-changing.”
He also asserts that 2019 and 2020 will altogether be about the real efficiency of the digital coins. Brad further commented on SWIFT, remarking it as more volatile due to a larger period taken to settle transactions. He affirms that cryptocurrencies like ripple shall prove to be a better alternative to the leading network as an ordinary XRP transaction takes only a few seconds.