Ripple CEO Brad Garlinghouse expressed at the Ripple Swell 2023 event that the future will be multichain.
Brad Garlinghouse, CEO of Ripple, calls for moving from crypto maximalism to a diverse and multichain world. Adopting various Blockchains is key to the crypto future.
Indeed, during the opening speech of the Ripple Swell 2023 event held in Dubai, Brad Garlinghouse made several statements that caught the participants’ attention.
On November 11, Garlinghouse posted the following on X:
“From Toronto in 2017 to now, we’ve taken #RippleSwell around the world. I closed out this year’s event with a fireside chat with CNBC’s @dan_murphy talking about how we’ll get to the next phase of enterprise crypto adoption with regulatory clarity.”
In a keynote talk during the Ripple Swell 2023 event held in Dubai, Ripple CEO Brad Garlinghouse said he actively discourages those who present themselves as “maximalists.” According to Ripple’s CEO, the world will become multichain in the future. He explained the following:
“I’m very optimistic about a lot of different things that are happening in the crypto industry. I certainly try to discourage people from being maximalist about a particular cryptocurrency.”
Ripple CEO Brad Garlinghouse at Ripple Swell Dubai
Specifically, he mentioned that many community members who identified as maximalists were unhappy with this stance. According to Garlinghouse, the world will move to the multichain sector: “I am very optimistic about some of the developments that are occurring in the crypto market. “While I actively discourage people from being maximalist regarding any particular cryptocurrency, I believe in a multichain world.”
Likewise, he discussed factors that he believes could promote greater institutional adoption in the cryptocurrency sector, as well as discourage maximalist attitudes among participants. According to him, two factors could contribute to greater institutional adoption of cryptoassets on a global scale.
These factors include having a clear regulatory framework relevant to the industry and possessing what he identifies as “demonstrated usefulness”.
US Lagging in Crypto Regulation Compared to Dubai
Garlinghouse explained that although the United States represents around 22-23% of the global Gross Domestic Product (GDP), the country is far behind in terms of regulators establishing clear rules for the crypto market. He stated that compared to jurisdictions like Dubai, where regulators are engaged in a constructive process regarding the industry, the United States is lagging behind.
Explaining the situation: “The United States, unlike Dubai in particular, is far behind in creating these legal structures. Therefore, there is a need to have frameworks in place for large organizations to adopt and commit to.”
In itself, Garlinghouse believes that beyond clear rules and regulatory commitment, greater institutional adoption will only be driven by the demonstration of tangible benefits and not by speculation. According to him, speculation is not the ultimate goal in the cryptocurrency market:
“You also need to have a proven utility because if it’s just speculation, then in my opinion it’s not the promised land.”
Finally, Brad Garlinghouse’s message is clear and direct: the era dominated by a single Blockchain is coming to an end, giving way to a multichain world. In essence, he emphasized the need for cryptocurrencies to harness their potential by solving real-world problems and providing tangible benefits to users and institutions.
By Audy Castaneda