The Adoption of Cryptocurrencies Shouldn’t Overtake The Tech, Says David Schwartz

David Schwartz (Ripple’s Chief technology officer) in an interview with Internet History Podcast, revealed a slightly distressing look for cryptocurrency adoption.

As said by Billy Bambrough of Forbes, the multi-millionaire well known as the main man behind the functionality of XRP as well as the financial tech products of Ripple, has said that he feels adoption shouldn’t get ahead of the tech.

Although he didn’t state directly that he sees the present crypto-centric tech as old-fashioned, his initial comments confirmed it. Schwartz, referred on Twitter as Joel Katz, then made a comparison between Dotcom’s early days and today’s cryptocurrencies, clarifying that even the internet took a very long period before it could experience a satisfactory maturity cycle.

Schwartz is likely suggesting the sentiment that crypto infrastructure, especially exchanges, applications and wallets are still mostly underused, as these products are usually expensive, slow and difficult to interact with. For example, a good number of retail investors may find exchanges overwhelming, most importantly those who are yet to play in the financial markets.

Despite Bear Market, Growth of Crypto Adoption continues
Despite his comments, crypto assets adoption and the general growth of the industry continues. Nasdaq, one of the best known financial institutions in the world, of recent announced its plans to invade the cryptocurrency market. According to Nasdaq’s representatives, they’ve teamed up with VanEck (the company behind the Bitcoin ETF application), to begin work on crypto 2.0 futures.

Ripple, XRP has also experienced some growth
Ripple and XRP have been able to see some adoption as well as use in the real world. For example, R3’ Corda is an open-source product based on the tech of XRP. This program will permit the accessing of a ‘Settler’ by R3 and its users. This Settler serves as a kind of link between a range of fiat currencies issued by the government, crypto assets, and future securities based on the blockchain tech.

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