Ripple co-founder speaks about the “fundamental problem” speedbreaking globalization 22135
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Madhurima Roy
Aug 31, 2018 at 9:15 PM

Chris Larsen, the co-founder of Ripple, who is also an angel investor, sat down with Forbes at their Philanthropy Summit, where he discussed the “fundamental problem that needs to be solved” to ensure the successful adoption of globalization. He is of the opinion that to achieve globalization at a comprehensive level, capital is very imperative.

Larsen said: "We only have those two things - data and goods. Without the money part, globalization doesn’t work. It is incomplete."

Blockchain will boost globalization

A blockchain is a decentralized, public ledger of cryptocurrency transactions and citing how blockchain and cryptocurrency will help globalization, Larsen said that it was “only a matter of time” before the world started working to own its own cryptocurrency “that had no government behind it”.

The concept of decentralization eliminates the existence of any central organization or body administering or overseeing processes and this is where Larsen feels people get interested, because "Fudamentally, it's about wiring the internet for money."

Igor Khmel, the founder & CEO of Bankex, also talked about the importance of decentralization and in one of his Twitter posts, said: "Banks that choose to ignore the emerging decentralized economy will find themselves at a distinct strategic disadvantage in the global market."

 

 

SEE ALSO: Bitcoin “bear market is psychologically motivated,” says John McAfee

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