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The CEO of San Francisco-based startup Ripple believes that the economic policies put in place to prevent the impact of the financial crisis caused by the Corona pandemic will benefit the cryptocurrency industry.
Brad Garlinghouse said during an interview in a virtual event:
Macro-monetary stimulus programs will eventually damage the value of the fiat currency.
He further stated:
I think the macro view of cryptocurrencies is very good for cryptocurrencies in a world where we are seeing massive economic stimulus from fiat currencies and long-term inflation.
Garling House believes that crypto-assets must prove their usefulness in order to survive in the long term as a store of value.
Read more: What does store of value mean?
Brad Garlinghouse’s view on solving problems using cryptocurrencies
He stated:
I also think cryptocurrencies are not just profitable as an asset. Cryptocurrencies should use this technology to solve real problems.
Garlinghouse also points out how blockchain and cryptocurrencies can become more useful tools.
We need to make sure there's regulatory transparency and make sure we're focused on real use cases, not science experiments, but actually solving real problems...
It is very important that different projects, regardless of what technology platform they use, understand who their customers are and what problems they are trying to solve. Blockchain technology can be useful as a GPT in solving problems and economic development due to its continuous expansion, evolution and improvement and other characteristics.
Brad Garlinghouse also added:
Ripple's XRP token acts as a currency to facilitate cross-border payments, and the company owns more than half of the total supply of 100 billion tokens.
