Money 20/20 is a popular yearly conference summit and one of the largest too. It primarily focuses on the payment services and financial services industry. Moreover, it is a conference which focuses on FinTech, that is, the latest technology that helps empower the finance sector. This year’s Money 20/20 annual conference from October 21 to October 24 is happening in Las Vegas. Ripple Co-founder, Chris Larsen, and his team spoke at the event about various fintech related issues, problems, and solutions.
Chris Larsen is the co-founder of the Ripple Foundation. Furthermore, he is currently serving as the Executive Chairman for the blockchain project and foundation. Larsen spoke on the importance of digital assets and the global economy.
This was a chat with Arjan Schutte, the Founder of the Core Innovation Capital and the Managing Partner of the conference who moderated the chat. He also urged people on the importance and functions of digital assets, which could prove beneficial for the global economy.
More about the Chat
On the topic, Larsen stated that we aren’t prepared for handling a financial crisis, and yet we are standing on the possibility of witnessing one. “10 years out on the financial crisis we still don’t have the infrastructure perhaps to prevent the next one.”
Furthermore, he stated that he firmly believes that “an efficient digital asset can really solve some of the key problems in global liquidity“. Financial groups and institutions have to invest trillions and trillions of dollars to manage the liquidity for making transactions all over the globe.
This proves to be an obstacle to the growth of the economy. Furthermore, he boldly stated that he believes that Ripple (XRP) cryptocurrency could help solve the problem with its ecosystem. Ripple provides instant payment solutions without keeping liquidity and helps financial institutions for cross-border transactions which are secure and transparent.