A Ripple executive has given a projected timeline for the widespread adoption of crypto and blockchain solutions.
Recently, Emi Yoshikawa, the Vice President of Corporate Strategy at Ripple, said the next two years could be a tipping point for the mass adoption of crypto. Yoshikawa expressed this sentiment while fielding questions from panelists at Ripple Consensus.
Prominent XRP influencer Crypto Eri shared a snippet of the interview with the crypto community.
— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) August 28, 2023
300 Professionals Agree to Crypto Payments
During the interview, Yoshikawa shed key insights about the state of blockchain in the payment industry. Particularly, she shared data points from a payment report Ripple recently published in collaboration with the US Faster Payments Council.
According to the VP, Ripple surveyed 300 payment professionals across 45 countries. The aim was to gauge the present state of blockchain payments from the professionals’ perspective. The survey also aimed to get insights into the advantages and challenges of blockchain.
Interestingly, the report unveiled that 100% of the respondents acknowledged the benefits of utilizing blockchain and cryptocurrencies in payment processes.
Also, according to Yoshikawa, 97% of the professionals believed that blockchain and crypto would substantially influence payment systems over the next three years.
Based on the data, the Ripple VP emphasized the industry is no longer questioning the use of blockchain and crypto. Instead, the focus has shifted to determining the “when” and “how” of crypto integration.
“So clearly, it is no longer a question of if, right. It’s more of a question of when, how,” she remarked.
Moreover, Yoshikawa underscored the evolving sentiment within the payment industry. She recalled that doubts prevailed seven years ago regarding the relevance of blockchain and cryptocurrencies in the payments sector.
However, according to her, the skepticism no longer exists. In her words:
“When I started working at Ripple seven years ago, there was still a lot of skepticism and question of does the payments industry really needs blockchain or crypto. But we no longer hear that question.”
Ultimately, Yoshikawa highlighted that the next two to three years will mark a pivotal tipping point for widespread adoption.