Ripple CTO David Schwartz explains why the XRP Ledger is particularly good for RWA tokenization. He also shares a timeline for when the first such protocols will go live.
Ripple CTO: It will happen within the next year
As one of the oldest blockchains and the native platform of the XRP cryptocurrency, the XRP Ledger is an excellent technical foundation for tokenized real-world assets. Ripple CTO notes the benefits of this. He also shares his predictions for the first RWA projects to go live on XRPL maim-net. Accordingly, it is possible for developers to launch real-world asset (RWA) tokenization projects on XRP Ledger in the next year or year and a half. Ripple CTO David Schwartz makes this statement in a video shared by the Flip The Chain team.
https://twitter.com/flipthechain/status/1712865851517403428
According to experts, XRP Ledger is a good platform for developers to launch tokenization protocols. Because it has low transaction fees. It also provides seamless integration with on-chain exchange mechanisms. Ripple CTO emphasizes that users are particularly interested in being able to buy, sell, store and transfer real-world assets without relying on fiat currencies such as the US dollar when interacting with them. Therefore, XRPL DEXs will provide the necessary level of immediacy for all market actors.
Accordingly, the first implementable RWA protocols on the XRP Ledger could launch in 2024 or early 2025. Crypto Twitter predicts that gold and real estate will be the first assets to have virtual “avatars” running on the XRP Ledger. As you follow from Kriptokoin.com, RWAs and the protocols involved in their operations were among the hottest narratives of 2023.
Are new DeFi designs coming to XRP Ledger?
Meanwhile, the XRP Ledger community is awaiting the decision of the validators on the activation of the XLS-30d “XRPL AMM” offering. If the validators agree, they will add seamless non-custodial exchange functionality to the XRP Ledger. Thus, they plan to turn it into another DeFi Blockchain.
However, the Ripple proposal has received little support from the community so far. At the time of writing, only two validators supported the proposal to be included in rippled v1.12.0. These are Ripple itself and katczynski.net. This proposal needs 26/33 votes to pass. So far they have secured only 3.03% of the required voting power. “Clawback,” another major change vital for XRPL to remain compliant, received 15.5% support, or five “yes,” from validators.
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