During the event Money20/20 USA 2018 held in Las Vegas, Ripple’s Executive Chairman and Co-Founder Chris Larsen sat down for a in-deph chat with Arjan Schütte, the Founder and Managing Partner of Core Innovation Capital, regarding disruption, regulation and the internet of value.
“There is a ‘techlash’ going on, for sure. Silicon Valley has missed the boat“.
Chris Larsen said, who is also the richest person In cryptocurrency world according to Forbes and added,
“They’ve moved fast and broke things and didn’t worry about the consequences. This is where FinTech has struggled. Pure code is one thing, but it has to also be compliant and regulated. Technology is embedded in everything these days, and people are scared. They don’t want to hear how you’re going to break things.”
Chris suggested that startups and tech companies need to have more empathy. It means teams should think about disruption from a different perspective — one that requires them to be smart, but also thoughtful. When asked by Schütte about the impact blockchain has, Larsen acknowledged it is a disruptive technology. However, he clarified that while the technology itself could disrupt, teams building on it should not.
“Working within the system. A big part of stopping this fetish for disruption is getting involved in the industry,”
“Work with banks. By working with the system, you are automatically confronted by what the concerns are. If you’re only on your own path, you don’t see what these issues are.”
He believes that digital assets, could help prevent the next financial crisis by solving the global liquidity problem.
Despite the challenges, Larsen still believes that digital assets will be a driving force for positive change in the financial industry and beyond. An impact he hopes can achieve through the Ripple mission of enabling the Internet of Value, a world where money can move seamlessly across borders like information does today. Larsen believes the journey to this end goal will have a steep learning curve for digital assets and their associated projects. He added,
“Ninety percent of what we see today [in digital assets] won’t exist in ten years time, but the other ten percent of it will change the world.”
Original article and image via Ripple