Ripple has published some predictions for 2020 on its website area dedicated to data and analysis.
These are not predictions that refer only to the Ripple project, the XRP cryptocurrency, but generally concern digital assets.
According to Ripple, there are people who see digital assets as a house of cards that could collapse in 2020, while on the other hand, there are those who see them as a building built piece by piece over time with Lego bricks, ready to withstand for years to come.
Taking the side of the latter, Ripple argues that 2020 will lead to greater mainstream adoption of digital assets, thanks to new technologies and applications that can bring significant and tangible changes in a wide range of sectors.
In this regard, they cite the case of XRP and Ripple which, together with MoneyGram, are facilitating cross-border payments, with even more companies expected to start using such technologies for these purposes in 2020.
They also mention the case of mobile wallets that “will enter the blockchain and crypto industries in a big way”, imagining solutions such as PayPal able to keep pace with customer demand and compete with digital banks, including also new products for credit and loans.
According to Ripple, these more mainstream use cases will initially emerge in developing markets, such as Kenya, Nigeria or Latin America, where they are most needed and will be facilitated by more accommodating regulations.
In fact, they argue that these more permissive regulations will also end up making digital assets more attractive to tech companies looking to grow.
This is a prediction that appears to be in contrast to what is commonly perceived since many people argue that there is a kind of battle between regulators and crypto companies in which the former intend to significantly limit the magnitude of this technological revolution.
According to Ripple, the institutional adoption of digital assets will accelerate, with a wave that will begin in 2020 thanks to traditional companies that will implement solutions based on digital assets and blockchain.
In fact, according to CEO Brad Garlinghouse, half of the top 20 largest banks in the world will hold and actively trade digital assets in 2020. Whereas for Xpring’s SVP Ethan Beard, at least one central bank will launch a tokenised representation of its fiat currency.
Another prediction concerns the spread of international micro-payments, with new purchasing solutions for tourists and travellers who don’t use credit cards, guaranteeing immediate cross-border payments, including multi-currency payments.
The article also imagines the possibility of a pump for the digital assets market, thanks to the evolution of the cryptocurrency industry, with a consolidation of companies and the appearance of more institutional-grade exchanges.
Ethan Beard even imagines “a flight to crypto as the safer asset class”, in case of a global economic slowdown.
However, the picture painted by Ripple is so full of rosy perspectives, and lacking in doubt, that it doesn’t seem to be very objective. After all, the company is certainly not a disinterested party, and it would be no wonder if it was just trying to seize the opportunity to promote the development of this sector.
However, what they have expressed in this article, although perhaps incomplete or at times far-fetched, seems plausible, hence these predictions cannot be dismissed as mere publicity.