David Schwartz thinks real-world asset (RWA) tokenization is primed to “drive the blockchain economy.”
Schwartz, Ripple’s chief technology officer (CTO), predicts that real estate and commodities will lead to RWA tokenization.
“Tokenized RWAs on XRP Ledger will enhance collateralized loans, improve interoperability, and attract institutional adoption, reshaping the financial sector. XRPL will be a leading blockchain enabling these use cases.”
The CTO is also excited about decentralized identifiers (DIDs), which can verify the identity of a person or subject without relying on third parties like trusted validators and centralized entities.
Schwartz says DIDs will “revolutionize privacy on the blockchain” and drive demand for decentralized exchanges (DEXs).
“DEXs, empowered by DIDs, will see increased institutional volume, driving growth and liquidity in decentralized finance. The proposed XLS-40 amendment introduces DID capabilities to XRP Ledger, marking a new era in privacy, security, and financial innovation.”
The Ripple executive also thinks stablecoins are primed to change the composition of global finance and reduce dependence on the US dollar.
“The Middle East will lead in stablecoin adoption for regional trades. Financial institutions standardizing integration with blockchains will pave the way for stablecoins as a universal tool, streamlining international transactions and unlocking new economic potential.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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