Ripple Executives Predict Whats Coming for Crypto in 2021

Friday 22 January 2021, 8:46 AM AEST - 1 month ago

Members of Ripples senior management team are unveiling a set of crypto predictions for the year ahead.

In a new blog post, the executives offer their forecast on whats next for crypto regulation, decentralized finance (DeFi), central bank digital currencies (CBDCs) and how issues of scalability and sustainability will play out in the space.

Ripples general counsel, Stu Alderoty, believes the growth of crypto in the US hinges on friendly crypto regulation as the sector continues to mature.

Alderoty predicts that President Joe Bidens administration will prioritize crypto regulation, hoping that intelligent, well thought-out regulations can help unleash innovation and further mainstream adoption of cryptocurrencies in the US.

Alderoty does not directly address the U.S. Security and Exchange Commissions allegations that Ripple illegally sold XRP as an unregistered security, though he recently said the company will soon issue a formal response.

As for the fate of CBDCs, Ripples vice president of central bank engagements James Wallis believes the trend of digital currencies being pegged to fiat currencies will continue to evolve.

Over the course of 2021, I expect to see greater evolution of cryptocurrencies, stablecoins, and CBDCs with each firm establishing their place in finance and payments through more defined use cases.

In the DeFi space, Ripples head of DeFi, Michael Zochowski, anticipates that the truly useful projects will grow their userbase as early projects consolidate, get acquired or shut down. Zochowski further predicts that Ethereums market share in the DeFi space will fall this year.

I believe at least 25% of the value deployed in DeFi by the end of 2021 will be on networks other than Ethereum.

Asheesh Birla, the general manager of Ripples institutional payment-providers network RippleNet, predicts that the status quo that traditional financial institutions enjoy will continue to face a growing threat from financial technology and cryptocurrency firms.

The tide is turning. Its possible that we could even ...

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