Hi guys, thanks for coming back to check out another blog post!
We are on a journey and a path towards global adoption and maturity, and at the core of this is regulatory clarity.
There was an article which that was shared a few days ago titled ‘Ripple payments approved by leading U.S regulator and potential game changer for XRP powered xRapid’. Although this title was semi-clickbait it does not take away from the impact of this move. The New York State Department of Financial Services have officially granted a license to Ripple partner and crypto exchange Bitstamp. The license allows exchange services to be branched out towards New York opening an entirely new untouched field for the exchange to unleash the capabilities of xRapid. Bitstamp are one of four major exchanges in the market to be able to deploy the XRP powered platform.
This is one small step closer to regulatory clarity! Some countries are clearly further along the path of governance and regulatory clarity than others, however once global regulatory clarity is achieved we will then have an internet of value that is truly growing.
We expect this clarity to come within the next 18-24 months – likely to coincide with a crash of the financial markets. Between now and then they are going to be building liquidity pools of everything they will want to tokenize to swap and trade using smart contracts via XRP through ILP. This is no easy task and it will take a few years, hence the repeated time frame estimates of 2023-2025. If you think the internet of data was big, the internet of value will dwarf this in comparison.
Let’s all be patient. Let’s all acknowledge that every little bit of regulatory information is one small step towards global governance and regulatory clarity. Exciting times await us so let us all enjoy the journey! Wishing you all health and happiness – be back with another post soon!
Written by Dominic Zohreh
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