What we love about every New Year is its promise of a new beginning and a hard reset of the mistakes of the past. It’s also that time when we get new predictions of the things to come in the world of cryptocurrency. With that, CTO David Schwartz just offered his fresh perspective on what Ripple and its native coin, XRP, have in store for us.
AI and Blockchain Fusion
Ripple’s chief technology officer believes that the integration of artificial intelligence (AI) in blockchain will take cybersecurity and financial services to new heights. One primary use case to be unlocked by this conjunction is the automation of crypto trading via AI chatbots like those found on the XRP ledger (XRPL). The tech will likewise open a window for more precise market insights to aid in decision-making.
For him, AI chatbots will not only simplify development in the crypto space but will also foster global innovation and financial inclusion.
RWA Tokenization’s Role in the Blockchain Economy
Schwartz forecasts the tokenization of real-world assets (RWA) in real estate and commodities will be driving factors in the blockchain economy. He said XRPL will play an important role in the advancements of collateralized loans and interoperability. It will be a key driver in attracting institutional players into the blockchain sector, too.
DID Taking Center Stage
Decentralized identity (DID) will be vital in keeping privacy on the blockchain. Institutional investors will be the ones making good use of this feature within decentralized exchanges (DEXes), and they will stand to gain from the proposed XLS-40 protocol revision on XRPL that will bring in DID elements.
Smart Contracts and Blockchain Interoperability
The Cross-Chain bridge amendment of Ripple for XRPL is expected to boost innovation and empower new decentralized finance (DeFi) applications. The unified and efficient ecosystem lets tokens from one blockchain to be locked in an XRPL account as the same amount of tokens is dispensed on another blockchain.
Stablecoins Will Reduce USD Dependence
The Middle Eastern region will lead the widespread utilization of stablecoins. The cheaper and faster transactions they offer will result in the shift of financial investors in its ecosystem and less dependence on the US dollar in foreign exchanges and other kinds of trades.
The standardization of stablecoin integration in financial institutions could make them the new universal tool for the settlement of cross-border transactions.
XRP Price Now
XRP has taken a massive recovery this year by 80% to $0.62 as of this writing at 12:00 PM UTC. The daily chart shows a 1.42% growth of the cryptocurrency while trade volume went up by 18.82% as $1.35 billion worth of the coin moved in crypto exchanges during the period.