Ripple CTO David Schwartz revealed that the Boa).
Schwartz made the remarks while discussing the XRPL journey in a recent interview. He Express his satisfaction that the technology behind the XRP Ledger is getting more attention these days, instead of a complete obsession with XRP, its gas token.
The Ripple CTO emphasized that XRP remains a token that market participants can buy, hold and transfer. However, he pointed out that the token itself is not as interesting as the core technology that powers the XRP Ledger.
He further drew attention to the unique nature of XRPL in the early stages of blockchain adoption, noting that the network was the first layer 1 blockchain not built from the Bitcoin Technology during the period 2011/2012.
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“So it’s exciting to see more emphasis on technology (…) You’re right: institutional adoption of XRP Ledger technology is growing,” David Schwartz said.
Part of the reason for this growing interest and adoption, he says, is the legacy the network was built around. He confirmed that the original architects, including him, built XRPL for corporate finance, applications and cross-border payments.
XRPL for RWA tokenization
He noted that early on, he and the other architects were looking for ways to drive enterprise adoption of solutions like Bitcoin. For such adoption to happen, they would need to establish bridges, connections, and other essential technologies.
Schwartz then revealed that he is extremely excited to delve into the tokenization of real-world assets. He pointed out that establishing effective tokenization of real-world assets has become a real problem. XRPL is able to solve this problem.
In his words:
“Tokenization of real-world assets is something I’m really excited about right now, because it’s a real problem and there’s real interest from traditional financial giants like JPMorgan and Bank of America, (which) actively pursue the tokenization of traditional assets.”
It is expected to reach $30 trillion by 2030.The tokenization industry has become a hot topic in the crypto scene, with projects such as Floki tries to jump on it. Antony Welfare, CBDC advisor to Ripple, revealed in July that Ripple aims to transform the real estate sector through tokenization.
In a previous interview, David Schwartz Express his desire to see XRPL serve as the go-to platform for real-world tokenized assets. He noted that XRPL has all the great features for this purpose, including low fees.