At Wednesday’s Goldman Sachs Technology and Internet Conference in San Francisco, Ripple CEO Brad Garlinghouse discussed blockchain and the benefits it brings to payments and capital markets with Adam Ludwin of Chain.
They discussed how today’s payment infrastructure system is slow, expensive, and costly – and designed only for high-value payments. This is why having a solution that banks and customers can actually use commercially and the ability to work well with other ledgers is imperative.
Brad and Adam, along with moderator, Jim Schneider of Goldman Sachs also discussed a notable shift in industry sentiment around the fact that there will not be a single blockchain for the world to standardize on – rather blockchains and payments systems will need to interoperate the same way that databases had to connect to create the Internet.
Brad closed with a prediction that 2017 will be the year that hype will meet reality and blockchain startups without a focused use case will hit the end of their runways.
Brad joined other tech leaders on Bloomberg Tech to talk more on the topic. Check out the segment here.