The crypto industry bought by its worst enemy? Ripple’s predictions for 2023


I see I see… – Predicting the future, especially in the crypto field, is not easy. Who could have even glimpsed the FTX cataclysm who shook the crypto-sphere last November? This is however the exercise to which Sendi Young, general manager of Ripple in Europe, has lent herself. In this article, we detail all the hypotheses!

Traditional finance eyeing crypto?

After a particularly turbulent year 2022, everyone tries their forecasts for 2023. End of the bear market? Strong comeback of NFT and the metaverse? Google search engine replaced by artificial intelligence ChatGPT? In short, there’s something for everyone. In this complex guessing exercise, Sendi Youngresponsible for the European branch of Rippleis also tried on January 9 to draw the crypto-cards.

Sendi Young, director of Ripple Europe, shares her predictions for 2023 – Source: Twitter

Firstly, it remains quite optimistic about the development of the sector despite recent concerns and the slump induced by the current bear market. L’institutional adoption of blockchain technologies should accelerate as pilot initiatives are launched in the field.

The strongest companies should take advantage of the weakness of their competitors to buy them out at a lower price. Using in fact on a terrain mined by the multiple bankruptcies of the year 2022 with FTX, Celsius, To travel and 3AC.

“We should also see a trend of increasing acquisitions of crypto companies by traditional finance and other big companies from quite different sectors.”

Attracted by this innovative and promising sector, it would not be surprising if some companies wanted to place their marbles there. Until recently, the crypto sector was watched out of the corner of the eye with contempt and distrust. But as so often in the history of technological revolutions, no one wants to be the first…or the last.

However, the ambitions of the traditional financial sector may be different. In the sense that it will rather be a question of embarking on a quest for mastery of the crypto sector, this annoying competitor which attracts capital and investment.

The crypto sector attracts investment thanks to its promising technology and traditional finance intends to get its share of the cake.
Traditional finance ready to put its two cents in the crypto sector?

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Prognosis 2023: it could shake!

In times of energy shortages and when the ecological issue is becoming more and more present, eco-responsible blockchains will probably be put in the spotlight. Ethereum as a standard bearer after The Merge. The solutions of tokenization of carbon credits should also have pride of place.

2023 will also be the year of the implementation of the various regulations, such as Mica. But also that of progress in the context of Digital Central Bank Currencies (MNBC) which should be talked about a lot. They will face a serious competitor, the stablecoinsthese cryptocurrencies indexed on the course of fiat currencies such as the dollar or, more anecdotally, the euro.

“Financial institutions will soon realize the benefits brought by blockchain technology in implementing instant interbank transfers. [et peu coûteux]. »

In our digital world, the instantaneousness of money transfers is still not relevant, contrary to what one might think. This remained quite simply impossible until recently. All of this may soon change with blockchain technology and the emergence of stablecoins.

Many upheavals to come in 2023 therefore. A strengthening of the fundamentals which will probably make it possible to clean up the crypto sector. And, to mourn a particularly complicated year 2022, but necessary to separate the wheat from the chaff. And start again, we hope in 2024 for the next bitcoin halving.

Are you confident for the future of Bitcoin and cryptocurrencies in the long term? To sleep with peace of mind, equip yourself with a secure Ledger hardware wallet. There is something for all budgets. Your security is priceless (commercial link).





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