The coronavirus pandemic has become the "tailwind" that drives cryptocurrency up and contributes to its spread in the world. This was stated by the CEO of Ripple Brad Garlinghouse.
Cryptocurrency - the salvation from inflation
Cryptocurrencies have become a real salvation for the global economy during the period of massive release of fiat money. This opinion is shared by the CEO of Ripple, Brad Garlinghouse. In an interview with Bloomberg, he stressed that the US financial stimulus and the printing of trillions of dollars by the Federal Reserve have played into the hands of cryptocurrencies, as many large and retail investors began to buy cryptocurrencies en masse, saving their finances from inflation.
Garlinghouse also shared the company's plans for the near future. He said that he does not exclude the possibility that Ripple will leave the United States due to tougher requirements for crypto companies, as well as the reluctance of the authorities to accept cryptocurrencies at the state level.
Ripple Labs CEO Chris Larsen said this earlier. He noted that frustration is growing in Ripple due to the "hostility" towards the cryptocurrency industry from the US authorities, and in particular the Securities and Exchange Commission (SEC). According to Larsen, in almost all other countries, the regulatory climate for cryptocurrencies is much more favorable than in the United States.
In addition, Garlinghouse believes that the United States is losing to China in the cryptocurrency war, which could further affect the country's economy.
A bright future for blockchain
Brad Garlinghouse has repeatedly stressed that blockchain will ultimately change the global economy. Ripple's latest research report confirms this idea. In a 2020 report, Ripple experts concluded that the spread of digital assets in the world continues, despite a difficult macroeconomic environment.
The survey was conducted in five key regions of the world - North America, Europe, the Middle East and Africa, Latin America and the Asia-Pacific region. The level of awareness of blockchain and cryptocurrencies was an impressive 82% -94%. At the same time, the positive attitude towards them continued to grow, reaching 62% -75% for cryptocurrencies and 52% -73% for blockchain.
However, experts admitted that a number of challenges remain in the industry, including a lack of regulatory clarity, security issues and the high cost of introducing new technologies.
