Ripple’s Vice President Projects Two Years for Mass Crypto Adoption

The Ripple Vice President of Corporate Strategy, Emi Yoshikawa, projects a timeframe for massive cryptocurrency and blockchain solutions adoption.

The executive disclosed this speculation in response to questions from panelists at Ripple Consensus. Yoshikawa said the next two years could be a tipping point for crypto mass adoption.

Notably, Ripple Labs is a blockchain company aiming to provide cross-border payment solutions. Based in San Francisco, United States, the firm has impacted the payment industry.

Using its native token, XRP, Ripple engages in On-Demand Liquidity. This outstanding liquidity management solution supports cross-border transfers instantly and efficiently without a pre-fund in the destination market.

Survey Reveals Huge Agreement On Crypto and Blockchain Payments

On August 28, a notable XRP influencer, Crypto Eri, revealed the Ripple executive's sentiment on crypto adoption.The influencer shared a snippet of Yoshikawa's interview with the crypto community.

Emi Yoshikawa, VP of Corporate Strategy @ripple at Consensus yesterday.
Blockchain Crypto Payments
"2 or 3 Years is Going to be a Tipping Point for Mass Adoption."#XRP #XRPL pic.twitter.com/nNwGUxKTZN

- Crypto Eri Carpe Diem (@sentosumosaba) August 28, 2023

In the interview, Yoshikawa explained more about the state of blockchain within the payment industry.

Using a Ripple report tagged Transforming the Way Money Moves,' the executive shared some data points on payment systems. The report was recently published in partnership with the US Faster Payments Council.

The report highlighted a recent Ripple survey that focused on uncovering the state of blockchain payments from a professional point of view.Also, it targeted more details regarding the benefits and challenges of blockchain in the present world of digitalization.

The survey involved 300 payment experts across 45 different countries as respondents. According to the report, 100% of the respondents noted the advantages of applying blockchain and crypto assets in payment systems.

The Relevance of Crypto and Blockchain In Payment Systems

Additionally, about 97% of the participating professionals support the idea that crypto and blockchain would impact payment processes within the next three years.

While relying on the survey data, Yoshikawa strongly believed there was no doubt about the relevance and use of crypto and blockchain in the industry. Rather, the concern is now on understanding the how and when' involved with crypto integration.

The Ripple VP stated:

So clearly, its no longer a question of if, right. It's more of a question of when, how.

Further, the Ripple VP drummed down the growing negative sentiment in the payment industry. She noted more doubts and a lack of confidence in the usefulness of crypto assets and blockchain in payment systems over the past seven years.

Notably, the years brought several changes that gradually wiped off such skeptical sentiments about the place of crypto and blockchain in payments.

Yoshikawa mentioned:

When I started working at Ripple seven years ago, there was still a lot of skepticism and question of does the payments industry really needs blockchain or crypto. But we no longer hear that question.

One of the major benefits of using crypto and blockchain in payment systems is increased efficiency. Also, unlike traditional payment options, they eliminate the role of several middlemen, delays, and high costs.

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