David Schwartz Talks Tokenization:
XRPL’s Exciting Future Unveiled. Ripple CTO David Schwartz recently shared his timeline for tokenization on the XRP Ledger (XRPL). David Schwartz anticipates real-world asset tokenization on XRP Ledger within the next year or year and a half. This statement was made in a video shared by the Flip The Chain team on Oct. 13, 2023. […]
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by Mike Adams
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XRPL’s Exciting Future Unveiled.
Ripple CTO David Schwartz recently shared his timeline for tokenization on the XRP Ledger (XRPL). David Schwartz anticipates real-world asset tokenization on XRP Ledger within the next year or year and a half. This statement was made in a video shared by the Flip The Chain team on Oct. 13, 2023. The XRP Ledger, one of the oldest blockchains and the native platform of the XRP cryptocurrency, is seen as a perfect technical basis for tokenized real-world assets. It offers low transactional fees and seamless integration with on-chain exchange mechanisms.
Users, especially when engaging with real-world assets, want to buy, sell, store, and transfer without depending on fiat currencies like the U.S. dollar. As such, XRPL DEXes will, therefore, provide the necessary level of proximity for all market actors.
The first viable RWA protocols on XRP Ledger might kick off as soon as in 2024 or early 2025. Crypto Twitter enthusiasts supposed that Gold and real estate might be the first assets to have their virtual “avatars” running on XRP Ledger.
Meanwhile, the XRP Ledger community is waiting for validators’ verdict on the activation of the XLS-30d “XRPL AMM” proposal. If passed, it might add seamless non-custodial exchange functionality to XRP Ledger, making it another DeFi blockchain.
What is Ripple?
Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP. Crafted to meet financial services industry needs, it actively fulfills its designed purpose. Ripple primarily serves as a payment settlement system, akin to SWIFT, facilitating international money transfers and currency exchanges. Ripple, on an open-source, peer-to-peer platform, effortlessly transfers various currencies, including dollars, yen, euros, or cryptocurrencies. Functioning as a reliable intermediary, it swiftly verifies successful transactions, ensuring a seamless exchange between parties on the network.
XRP is the native crypto token of the Ripple network, and it consistently lists among the top 10 cryptocurrencies by market capitalization. The token used for the cryptocurrency is premined and uses the ticker symbol XRP. XRP functions as a transitional bridge, facilitating currency exchange between networks, essentially operating as a temporary settlement layer.
In 2012, Chris Larsen and Jed McCaleb co-founded Ripple, marking its initial release.
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