TheStreet’s Live at the 2018 Stifel Cross Sector Insight Conference.
Ripple’s CEO Brad Garlinghouse took center stage in front of a packed house at the InterContinental Boston. He was interviewed by Lee Simpson, Stifel Tech Analyst.
Here’s what Garlinghouse had to say:
Blockchain Will Not Disrupt Banks
“There’s a lot of blockchain craziness, but there are three indicators of market winners.
- Product Market Fit
- Customer Traction
- Regulatory Engagement”
He added “Blockchain will not disrupt banks… they play an important role in the way our system works. it’s a short-sighted view…”
Bitcoin is Not the Panacea We Thought it Would be
Garlinghouse told the crowd: “Bitcoin is not the panacea we thought it would be..”
He told the crowd about Ripple’s XRP product. He said, “This is how liquidity will be managed in the future.” He focused on emerging markets.
XRP was described as the best digital asset for settlement. He said, “Bitcoin today takes 45 minutes to settle a transaction.” Whereas XRP could take 4 seconds to settle that transaction, claims Garlinghouse.
“Banks will use what is efficient and cheaper. And if you deliver a better product at a better price… they will use it.”