[2018-12-03] Brad Garlinghouse, Ripple’s CEO, Predicts Banks to Become Crypto Cu

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Brad Garlinghouse, the CEO of Ripple has experiences ranging from being the CEO of Hightail a file-sharing site, President of Consumer Applications at AOL and a Senior Vice President at Yahoo. His business acumen and experience is pretty much noted given the expansion Ripple has gained in the last one year in terms of partnerships.

At the Singapore Fintech Festival Garlinghouse confidently spoke about how banks will start holding Cryptocurrency assets like XRP. The main reasons cited by him include regulatory clarity and the opportunity to make money through Cryptocurrency.

Garlinghouse predicts the Association of South Eastern Asian Nations (ASEAN) banks will be the first to offer custodian services of Cryptocurrency.  [.....]

https://zerocrypted.com/banks-crypto-custodian/

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[magneto]

I agree. Some people think that cryptocurrency would completely get rid of banks, but I think that once bitcoin other cryptocurrencies go mainstream, they will actually be integrated into the banking system.

Traditional investment instruments that banks offer would simply be redenominated in bitcoin or whatnot. They may offer loans in BTC, deposits in BTC, or even use bitcoin as an asset that they hold in reserves in the future.

We're still quite far away from this phase though, but institutions are already catching up.

Though, I feel like in the future decentralised cryptos will be embraced by the community more than the centralised counterparts, which I feel like is the opposite of what Garlinghouse is trying to push.