When will the Block in the United States lead the world? XRP CEO: Just bring on another black swan event!

XRP CEO: Black Swan Event will drive the leading position of the US in blockchain

At the recent Ripple Swell 2024 conference in Miami, Brad Garlinghouse, CEO of XRP (Ripple), emphasized that an unexpected 'Black Swan' event could lead the United States to take a leading position in the global Blockchain industry. He stated that although the U.S. currently has limited presence in the encryption currency market, the situation could change rapidly through sudden regulatory developments.

Image Source: X XRP CEO Brad Garlinghouse said that a Black Swan Event could make the United States the capital of blockchain in the world.

In his speech, Garlinghouse compared the current dynamics of the encryption currency market with the Internet industry before 1996. He cited the Telecommunications Act of 1996 to illustrate how regulatory clarity established America's dominant position in Internet technology. He believes that Blockchain technology also has similar development potential as long as it can obtain regulatory clarity.

He also shared representative data of American companies in the internet and Crypto Assets industries. Although American companies are leading the world in internet technology, their presence in the Crypto Assets industry is relatively limited, highlighting potential growth opportunities. Garlinghouse believes that this gap may rapidly narrow through unexpected regulatory developments, thereby fundamentally changing the industry landscape. His 'black swan' metaphor implies that even in the face of current regulatory challenges, transformative changes may still emerge suddenly, having a profound impact on the industry.

In cooperation with the International Rescue Committee, explore the application of blockchain in aid

In addition, at the Swell 2024 conference, XRP announced a partnership with the International Rescue Committee (IRC) to pilot a blockchain-based aid solution.

IRC CEO David Miliband said at the meeting: 'Blockchain and stablecoins help change the way aid is delivered in global crisis zones. IRC operates in over 40 countries, providing lifesaving support to high-demand areas such as Sudan, Ukraine, and Myanmar.'

Millerband explains that Stable Coin can "reduce some friction", especially in areas where cash delivery is high-risk or impossible. With the prevalence of mobile phones among the displaced, digital cash transfers are becoming increasingly feasible. The potential of Blockchain lies in its "critical importance to security", enabling funds to reach beneficiaries more quickly and reliably. Through collaboration with Ripple, IRC hopes to use the transparency, efficiency, and security of Blockchain technology to improve the delivery of global aid, bringing tangible change to millions of people in crisis.

Regulatory clarity will drive the development of blockchain

Gary Gensler's remarks come at a time of ongoing discussions in the United States about the regulation of Crypto Assets. Historically, the lack of clear regulatory guidance has been a hindrance to the industry's development. He optimistically suggests that regulatory clarity could spur rapid progress in the industry, similar to the growth patterns of the internet era. He emphasizes that if an appropriate regulatory framework can be established, Blockchain technology may achieve a similar expansion to that of the internet in its early days.

At the same time, the collaboration between XRP and IRC also demonstrates the enormous potential of Blockchain technology in practical applications, especially in the humanitarian aid industry. This cross-industry collaboration further proves how technological innovation can bring positive impacts on a global scale.

This is why the CEO of XRP is calling for seizing the potential 'black swan' event, promoting the leadership position of the United States in the blockchain industry through regulatory clarity, and using blockchain technology to help address the upcoming global challenges.