- Ripple Executive Chris Larsen Discusses China’s Blockchain Endorsement and Ripple’s Latest Updates
- Ripple’s Washington D.C Office Aims to Educate Policymakers
Recently in an interview with Ripple founder Chris Larsen, he states that the authorization of blockchain technology from China’s president Xi Jinping is mounting pressure on US regulators to act. Larsen states that the move from one of the world’s largest economics reveals how crucial it is for the US to develop clear guidelines that support evolving FinTech solutions like Blockchain and digital assets.
He went thus: “It’s another phenomenal move… This is big news because it’s a big organization saying that this is a critically important technology. And I think now with China’s move, putting that on the list of critical technologies right up there with AI and quantum computing, that’s huge. I think that’s probably a watershed moment. I think what it means, though, is the US regulators have got to step up.”
In the interview, Larsen explained how important the role of the US is in aiding adoption and also supporting the internet as a guideline for how regulators should adopt blockchain technology. He believes it is taking regulators longer to act because of the hitches innate in dealing with banks and financial institutions in general.
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He expatiated: “There was a critical moment in ’97 when regulators laid out a framework [for the internet]. And that’s kind of what you need here, and we haven’t done that yet. The other difference, though, is finance is just way more complicated than when we’re just dealing with data. Way more complicated. Words can [only] do so much, but money can buy bullets. The consequences are more severe. I get that, I respect that it’s a really hard thing. But we’ve got to step it up. And with China’s announcement now, I think we’re really in danger of falling behind and sending more companies abroad.”
Ripple’s Washington D.C Office Aims to Educate Policymakers
Alongside other crypto companies doing updates and development, Ripple also has been going through a series of development to aid the adoption of its native token and also better user experience. Last month, Ripple opened its new office in Washington D.C as part of its efforts to educate regulators about blockchain technology. The former counselor to the secretary at the US Treasury department, Craig Phillips has been confirmed to be joining the board of directors to lead the board that will represent Ripple for the struggle for support and approval.