Is Ripple Labs the Next Amazon? Crypto Expert Draws Similarities
In a recent video, crypto expert Jason Friedman, host of the A Chain of Blocks YouTube Channel, suggested blockchain payment service company Ripple Labs is modeling its business after that of American tech giant Amazon.
Friedman referenced a 1999 late-night interview where Jeff Bezos explained why Amazon had not reported profits in previous years. Bezos said most of the company’s profits go into reinvesting in other aspects of the company in what he referred to as long-term plans.
Friedman drew similarities between Bezos’ statement and that of Ripple Labs chief executive officer Brad Garlinghouse at the Token2049 conference in Singapore. When asked about the profitability of Ripple at the conference, Garlinghouse stated that the focus for the company is not profitability but where the business will be in later years.
The CEO continued, that while liquidity, market volatility, and several other macro factors have affected the crypto ecosystem, he believes crypto is a technology that will live into the future. “We are going to continue to invest, hire more people, acquire more companies because I believe in where the world is going,” Garlinghouse said.
Elsewhere, Friedman also speculated that the next crypto frenzy could be about the integration of real-world assets. The analyst pointed to the statements of David Schwarz, Ripple CTO, in a recent interview on the advantages of real-world assets on the XRP Ledger.
In the interview, Schwarz said he believes the XRPL will be a good platform to support real-world asset tokenization. He continued that the platform’s low fees, cross-border abilities, and ease of moving funds will entice users. He also said the proximity to many assets will make transactions convenient.
Meanwhile, Hong Kong’s crypto index creator recently ditched USDC for XRP along with other changes. The development adds to a slew of growth and adoption of XRP following the regulatory clarity on its securities status in the U.S.
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