{"id":24957,"date":"2023-11-13T10:56:51","date_gmt":"2023-11-13T10:56:51","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/brad-garlinghouse-jabs-at-maximalists-it-will-be-a-multichain-world\/"},"modified":"2023-11-13T10:56:53","modified_gmt":"2023-11-13T10:56:53","slug":"brad-garlinghouse-jabs-at-maximalists-it-will-be-a-multichain-world","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/brad-garlinghouse-jabs-at-maximalists-it-will-be-a-multichain-world\/","title":{"rendered":"Brad Garlinghouse jabs at maximalists: \u2018It will be a multichain world\u2019"},"content":{"rendered":"

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While many participants in the crypto space continue to advocate for only a single blockchain, some believe that the future will be made up of multiple blockchains working with each other.\u00a0<\/p>\n

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From Toronto in 2017 to now, we\u2019ve taken #RippleSwell<\/a> around the world. I closed out this year\u2019s event with a fireside chat with CNBC\u2019s @dan_murphy<\/a> talking about how we\u2019ll get to the next phase of enterprise crypto adoption with regulatory clarity. 1\/2 https:\/\/t.co\/kXLxeAGaEk<\/p>\n

\u2014 Brad Garlinghouse (@bgarlinghouse) November 11, 2023<\/a><\/p><\/blockquote>\n

At a keynote fireside chat during the Ripple Swell 2023 event held in Dubai, Ripple CEO Brad Garlinghouse made various remarks, saying that he is actively discouraging those who present themselves as \u201cmaximalists.\u201d According to the Ripple CEO, the world will become multichain in the future. He explained:\u00a0<\/p>\n

\u201cI 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 multi-chain world.\u201d<\/p><\/blockquote>\n

Apart from discouraging maximalists, the Ripple CEO also talked about what he believes to be the catalysts that could drive further institutional adoption for crypto. According to Garlinghouse, two factors could drive more institutional adoption of digital assets globally. This includes having clear regulatory frameworks and having what he described as \u201cdemonstrated utility.\u201d\u00a0<\/p>\n

Related: <\/em><\/strong>UAE infrastructure for crypto is more \u2018business-friendly\u2019 than the US, says exec<\/em><\/strong><\/p>\n

Garlinghouse explained that while the United States has around 22-23% of the global gross domestic product (GDP), the country is \u201cway behind\u201d regarding regulators creating clear rules for crypto. The Ripple CEO said that compared with jurisdictions like Dubai, where regulators are engaging with the sector constructively, the U.S. is lagging. He explained: <\/p>\n

\u201cThe 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.\u201d<\/p><\/blockquote>\n

In addition to clear rules and regulatory engagement, the Ripple CEO also believes that further institutional adoption will be driven by demonstrating utility versus just speculation. According to Garlinghouse, crypto speculation is not the end goal. \u201cYou also have to have that demonstrated utility because if it\u2019s just speculation, that is not, in my judgment, the promised land,\u201d he added. <\/p>\n

Magazine: <\/em><\/strong>Best and worst countries for crypto taxes \u2014 plus crypto tax tips<\/em><\/strong><\/p>\n<\/div>\n