The current crypto market downtown may not allow everyone to trade easily. And even increases the heart-beat of many active crypto investors to think twice in the current market situation. But, the Ripple CTO, David Schwartz said that he is still more excited about payments. He also kept his eye on carbon credits and gaming NFTs.
Here, Carbon Credit can be understood as a digital climate project that democratizes access to regulated carbon credits. CCT is the first cryptocurrency backed by European Union Allowance (EUA) and is the most traded carbon credits in the world.
Non-Fungible Tokens, or NFTs games are blockchain games which allow users to buy in-game items, collectibles, and avatars.
The Faith of Ripple CTO
Ripple Chief Technology Officer (CTO), David Schwartz said in an interview at the Decentral conference on Nov. 29 that “We’re really excited about carbon credits. I think just because the fit seems to be really good. There’s a real problem in the carbon credit space right now of provenance and making sure that things aren’t issued, like there aren’t two sets of carbon credits.”
“There are people paying people to do stupid things… You have to be smart about it,” Mr. Schwartz commented about dispersing funds from Ripple’s $250 Million creator fund.
Meanwhile gaming is another area for development, as Mr. Schwartz said non-fungible tokens can help studios more easily bring users along to their newest products. “There are real problems in the gaming space that NFTs solve.”
He said, “You have to start over from scratch, and there’s this feeling of loss. If you could take NFTs with you, then you wouldn’t have that feeling of loss, and you’d be more likely to migrate to the game that the game studio wants you on.”
It can be noted that at present Ripple is not building consumer applications directly, but is looking for partners that can leverage the XRP ledger for its low cost and high-speed capabilities. Ripple also has a $250 Million creator fund that Mr. Schwartz said is being rolled out carefully after some initial hesitancy.
However, the firm move forward with its own fund in an attempt to promote the development of realistic projects in ecosystems that make sense, Mr. Schwartz said. While Ripple usually needs developers to first raise outside cash and build a minimum viable product before Ripple creator funds are dispersed.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.