Ripple Co-founder Discusses the Future of Payments at Crypto Finance Conference
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Ripple Co-founder Discusses the Future of Payments at Crypto Finance Conference

In an interview by Cheddar at Crypto Finance Conference in California, Chris Larsen, the co-founder of Ripple, discussed the future of payments.

When asked about what the future of cryptocurrencies would look like to him, Larsen said:

“Blockchain doesn’t quite capture what’s really going on here. We think what’s happening is really the creation of what we would call an Internet of Value. So we think that has a profound impact on how the world is going to work. Maybe it’s kind of the highest level—we almost see it as the completion of globalization, which is obviously not working for everybody right now. It’s getting a lot of blowback and I think it’s not because globalization is bad, it’s because it’s incomplete—some key thing is missing, and that key thing is interoperability of money. You have it with data, you have it with goods—shipping containers, and modern ports, but you don’t have it with money. Money is still stuck in the ’70s.”

According to him, the blockchains, digital assets and the interoperability of technologies is what would bring forth this revolutionary internet of value, and would “fundamentally make the world a much more efficient place.”

When asked about the increasing amount of competition Ripple is facing—owing to the increasing number of companies which are working in cooperation with the banks to come up with efficient solutions, Larsen said:

“It’s good. I mean, it’s kind of gratifying to see that, you know, we’ve been doing this now, focusing on cross-border payments for enterprises for four years plus. It’s good to see people finally realizing yes, this is the area that’s going to have the highest impact[…]We’ve been at it for longer than anybody, and what matters here is what quarters you have, number of partners—we have hundreds of banks and payment providers[…]Not just in experimentation mode but full production mode.”

With its bank partners in Japan, Ripple is one of the most important payments solution providers in the country. Speaking about the company’s plans for the US and some of the regulatory hurdles the company faces in the US, he said:

“We see great traction throughout South-East Asia, obviously Japan and Korea. The Middle-East, it’s incredible what’s going on there—you see partnerships that we’re signing almost on a weekly basis there. We think India is very exciting. Europe, obviously, has really moved forward. We think Latin America is very exciting. So we’re really seeing the whole world kind of light up. The US is obviously very important[…]We feel great about the progress we’ve made there—with American Express, for example. We’ve got some other partners that we’re very excited about. So, I think the regulatory environment also in the US—frankly it’s the best FinTech environment you have in the history of this country.”

According to him, the current administration understands the importance of FinTech and innovation and is supportive of the “big guys” in the industry who can work together to accelerate the progress.

No conversation about Ripple ever goes without the mention of the lawsuits. When asked about the recent third-lawsuit that the company was hit with over securities fraud, Larsen said:

“You’re always going to see these big players who are going to take advantage of the way the legal system enables an opportunity to do things like that. But we think these things have no merit, and some of those players have long histories of doing just this kind of thing. So we’re very confident about what Ripple is doing, and we’re very confident about where this industry is going in a positive way.”

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.