Ripple's (XRP) Chief Technology Officer (CTO) David Schwartz announced his predictions for 2024, highlighting potential advances in blockchain technology and applications.
Schwartz predicts that by 2024, the convergence of Artificial Intelligence (AI) and blockchain will revolutionize cybersecurity and financial services.
According to the CTO, artificial intelligence, which plays a crucial role in ensuring blockchain security, will strengthen accurate market insights and automated trading. AI chatbots, such as those used at XRPL, will foster global innovation and financial inclusion by simplifying development.
According to Schwartz, tokenization of Real World Assets (RWA) will drive the real estate and commodity-led blockchain economy. Tokenized RWAs on XRPLedger will improve collateralized lending, increase interoperability, and reshape the financial industry, attracting institutional adoption.
David Schwartz claims that the adoption of Decentralized Identity (DID) will revolutionize privacy on blockchain.
Decentralized Exchanges (DEXs) powered by DIDs will see increased institutional volume and drive growth and liquidity in decentralized finance, according to the executive. The proposed XLS-40 replacement for Ripple will bring DID capabilities to XRPLedger, marking a new era in privacy, security and financial innovation.
Schwartz predicts that by 2024, blockchain interoperability will break the silence, producing a unified and efficient ecosystem. According to the executive, interoperability protocols such as the Cross-Chain bridge change for XRPL will support innovation by encouraging new DeFi applications.
Ripple CTO predicts that stablecoins will reshape global finance, create new currency corridors and reduce dollar dependence. According to Schwartz, the Middle East is expected to lead the way in the use of stablecoins in regional transactions.
*This is not investment advice.
