Ripple CEO Brad Garlinghouse was in the news for calling bitcoin inferior and showing utmost confidence in Ripple.
Ripple currently has several blockchain-based products that they are using with centralized financial institutions, such as xCurrent and xRapid. It is the latter solution that Brad Garlinghouse says will have banks climbing on board throughout 2019.
In an interview with CNBC at the Money 20/20 Europe fintech conference in Amsterdam, Garlinghouse said:
“I’ve publicly stated that by the end of this year I have every confidence that major banks will use xRapid as a liquidity tool. You know, by the end of next year, I would certainly hope that we would see you know in the order of… dozens.”
He noted there are a lot of ICOs for tokens that he doesn’t know what problem the tokens are solving. Hence, he is skeptical about the future of some ICOs.
Asked if he thinks XRP, the third largest token on the market by capitalization after bitcoin and Ethereum, can displace the two leading cryptocurrencies, he said he doesn’t view the different cryptocurrencies as being competitive.
Garlinghouse is, naturally enough, bullish on the future prospects for XRP. As for Bitcoin, the leading cryptocurrency, not so much. He recently stated that he believes Bitcoin could be the “Napster” of cryptocurrency, meaning that better systems will replace Bitcoin after it finishes paving the way for this new technology.