Ripple CTO: XRPL to Become Favored Platform for Tokenized Real-World Assets Within 18 Months
The Ripple Chief Technology Officer, David Schwartz, has expressed optimism about the XRP Ledger’s potential in real-world asset tokenization projects.
During an interview following Schwartz’s presentation at the Apex 2023 developer summit, the Ripple CTO highlighted several key factors that make the XRPL an attractive platform for real-world asset tokenization.
Schwartz noted that XRPL’s low transaction fees and seamless integration with decentralized exchanges make it ideal for launching tokenized real-world assets.
In parallel, he pointed out the importance of accessibility and flexibility when dealing with tokenized assets. Schwartz stated that users want to conveniently buy, sell, hold, and transfer assets without being tied to a specific currency.
“If you tokenize some sort of debt, you don’t want to tie it to US dollars because that limits access to it to people closed to US Dollars,” Schwartz remarked.
In this context, Schwartz argued that XRPL provides proximity to a wide range of assets, allowing for easy exchange. He added that this easy access and broad applicability is one of the crucial benefits of the XRPL.
Tokenization on XRPL To Start within 18 Months
Furthermore, Schwartz predicted that the XRPL would be a favored platform for launching tokenized assets within the next 18 months. The short nature of the timeline, which the Ripple CTO hinted at, sparked enthusiasm among the XRP Army.
XRP influencer Amelie took to the X platform to share a snippet of the interview, adding, “The future is for XRP.”
WOW!
Check out this video where @JoelKatz says: „Tokenization on XRP-Ledger shall start in year and half in real world!“
THE FUTURE IS FOR #XRP 💎 pic.twitter.com/qNqFKFY7Oc
— 𝓐𝓶𝓮𝓵𝓲𝓮 🍭 (@_Crypto_Barbie) October 15, 2023
Meanwhile, in the interview, Schwartz highlighted the expanding role of tokenization and its impact on reshaping the world of finance. He first noted that people are beginning to recognize the inefficiencies in transferring certain value types.
The Ripple CTO stressed that tokenization will democratize access to various financial products. According to him, it will particularly favor individuals in countries with limited traditional financial services.
Emphatically, Schwartz believes tokenized assets will offer broader access to quality investment products, including collateralized loans and other financial services.