The Future of Crypto: Ripple CEO Brad Garlinghouse Believes in a Multichain World

In a keynote fireside chat during the Ripple Swell 2023 event held in Dubai, Ripple CEO Brad Garlinghouse shared his thoughts on the future of blockchain technology. Rather than advocating for a single blockchain, Garlinghouse believes that the future will be made up of multiple blockchains working together.

During the event, Garlinghouse expressed his opposition to the concept of “maximalism,” which refers to the belief that only one cryptocurrency or blockchain will dominate the market. He stated, “I am very bullish about a whole bunch of different things going on in crypto. I certainly am active in trying to dissuade people from being maximalists about any particular crypto. It will be a multichain world.”

Garlinghouse also discussed the catalysts that could drive further institutional adoption of cryptocurrencies. According to him, two key factors are clear regulatory frameworks and demonstrated utility. He noted that while the United States is lagging behind in creating clear rules for crypto, jurisdictions like Dubai are engaging with the sector constructively.

“The U.S. is way behind on creating, you know, those constructs, particularly in contrast to the Dubai’s of the world. And so, you have to have the frameworks for big institutions to adopt and engage,” Garlinghouse explained.

In addition to regulatory clarity, Garlinghouse emphasized the importance of demonstrated utility for cryptocurrencies. He believes that speculation alone is not enough and that cryptocurrencies need to showcase their practical use cases. “You also have to have that demonstrated utility because if it’s just speculation, that is not, in my judgment, the promised land,” he stated.

Overall, Garlinghouse’s remarks at the Ripple Swell 2023 event highlight his belief in a multichain future for cryptocurrencies. He encourages people to embrace the idea of multiple blockchains working together and emphasizes the need for clear regulations and demonstrated utility to drive further institutional adoption.