Ripple CTO Unveils Key New Product at Consensus 2024

XRP Ripple

Ripple’s top executive welcomes the community to join the upcoming Consensus 2024 event where he will share details about Ripple’s exciting new direction and innovations.

David Schwartz, Ripple’s chief technology officer (CTO) and co-founder of the XRP Ledger, has announced on his official X platform account that he will be speaking at the upcoming Consensus 2024 event hosted annually by CoinDesk. He plans to discuss important topics during his appearance on stage.

Ripple CTO Unveils Institutional DeFi Vision at Consensus2024

David Schwartz, Ripple’s chief technology officer (CTO) and co-founder of the XRP Ledger, has announced via his official X platform account that he will be speaking at Consensus 2024, organized annually by CoinDesk. During his presentation, Schwartz teased that he will reveal Ripple’s vision and roadmap for institutional DeFi on the XRP Ledger. Joining him will be Phil Kwok, co-founder of the EasyA app, to delve into this transformative topic.

Source: X

Ripple Labs also tweeted about the upcoming session, highlighting discussions on multichain interoperability, EVM programmability, RWA tokenization, and more. This indicates a focus on enhancing financial protocols and integrating traditional finance safeguards within decentralized finance innovations.

Understanding Institutional DeFi: Institutional DeFi represents the evolution of decentralized finance tailored for financial institutions, merging DeFi’s innovative protocols with the stability and regulatory frameworks of traditional finance. According to a report by J.P. Morgan, this approach holds significant potential for growth and transformative impact in the financial sector. Despite skepticism from figures like Jamie Dimon, CEO of J.P. Morgan, who remains critical of Bitcoin, institutional DeFi aims to provide avenues for users to stake or lend cryptocurrencies for regular returns within secure DeFi contracts.

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David Schwartz Clarifies Crypto Holdings and Transactions

David Schwartz, Ripple’s CTO, recently addressed speculation within the X crypto community regarding his cryptocurrency holdings and transactions. In a tweet, Schwartz disclosed that at his peak, he held approximately 26 million XRP. He clarified that while he had sold Bitcoin and Ethereum to acquire more XRP, he has never sold any XRP to purchase other cryptocurrencies, except for what he termed “some unusual purposes.”

Schwartz’s statement effectively quelled community speculation about his XRP holdings and whether he had engaged in any significant sales. Such disclosures from influential figures in the crypto space can sometimes impact market sentiments and behaviors.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.


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