This year cryptocurrencies have enjoyed a wild year of gains. One to note is XRP which is up 186%. XRP is the digital currency or asset that facilitates payments on the payment platform Ripple. which provides fast and cheap international transactions worldwide.
Brad Garlinghouse the CEO of Ripple mentions the gains are driving because many govts around the world are printing more fiat currencies. With trillions of dollars of stimulus they are inflating the US dollar. Brad Garlinghouse mentions the long term value of any digital asset will come from its utility. Ripple is using an opensource digital asset XRP to solve a payment problem it is good at it because its extremely fast and extremely cheap to solve the problem.
Bitcoin will remain an important player however more currencies are showing continued disruption. Bitcoin for many is seen as a good entry point for people entering the cryptocurrency market.
Brad Garlinghouse mentions that the US is out of step with other countries when it comes to regulation.
What is the DCEA? It is the Digital commodity exchange act. This is the act that will provide building blocks clarity and certainty for companies to confidently build blockchain companies. Brad Garlinghouse mentions this will help make public cryptocurrencies. What does an ideal regulatory framework look like?