- A team of top executives for blockchain payment company Ripple shared their predictions about the future of cryptocurrencies.
“Innovations in the cryptocurrency industry will accelerate this year”
In a blog post titled ‘Crypto and Blockchain: Looking Ahead to 2021 and Beyond’ published on January 19, Ripple’s leadership was predicted to accelerate innovation for the cryptocurrency next year.
RippleNet Managing Director Asheesh Birla said disruptive fintech companies provide the opportunity to start eroding the market share of larger institutions. Birla pointed out that the rapidly changing, consumer-facing industry favors crypto assets such as the adoption of Bitcoin by Square, Robinhood and Paypal.
“The interest of institutions is increasing”
He spoke with Birla:
The tide is turning. We may even see a fintech or cryptocurrency company buying a traditional financial institution in the next year.
Ripple’s head of decentralized finance (DeFi), Michael Zochowski, said 2021 will witness an even greater appeal for DeFi products. He predicted that previous projects would begin to fade and pave the way for more innovative and productive platforms.
“Only the useful will win”
But the really useful ones (possibly simpler apps that duplicate financial services like decentralized exchanges) should continue to gain momentum with users.
Ripple General Counsel Stu Alderoty has described the crypto regulation as a top priority for President Biden’s newly appointed team. He said the White House understands the implications of public and private sector innovation and will try to create a unified framework for crypto and fintech companies.