In the last performance management Ripple at the conference Money20 / 20, the Executive Chairman and Ripple co-founder Chris Larsen spoke with the founder and managing partner of Core Innovation Capital of Arcanum Shutte.
Larsen was thinking about my experience as an entrepreneur and business leader when he offered perspectives on various topics, including the split of the Silicon valley, the regulation of digital assets and how the creation of the Internet, values will change the world.
After the statements of Shutte on the philosophy of Larsen with regards to the development of new technologies, Larsen explained that there are it is important to distinguish between the desire to do good and the desire to do bad. This philosophy, he noted, was well articulated by President Clinton during his report during Swell 2018. He explained that the unhindered growth of new technology produced in Silicon valley, can often pose a threat to society.
We are dealing with techlash (collision technology companies with government control). Silicon valley is too quick to introduce new, breaking old and not worrying about the consequences. With this and fighting financial technologies . Clean code is important but it also needs to be consistent and regulated. In our days technology is being implemented at all, and people fear that. They don’t want to hear how you are going to break well-established principles, said Larsen.
To fix this, Larsen said he believes that startups and technology companies need to have more empathy. He stated that the developers thought about the break more carefully, putting yourself in the position of consumers. When Sutte asked him about the impact of the blockchain, Larsen acknowledged that this is a destructive technology. However, he explained that, although the technology can be destructive of the team working with her, must not be the same.
This philosophy became the Central approach of the company Larsen. He cited the example of a program Ripple for Good, as an example of the correct approach to construction that supports a greater global community. Larsen said that the industry has not coped with the problem of using digital assets in a bad order.
Larsen went on to say that the industry can learn from such projects as “thorn,” which uses new technology to stop the exploitation of children on the Internet. He argued that it was part of digital assets, making their way in the world, and new projects, it was important to make positive changes by working with traditional financial system, not destroying it.
– Work in the system. The most important thing you can do to solve this problem be related to that. Work with banks. Working with the system, you are automatically faced with its problems. Whereas if you follow your own path, you don’t see what is the problem, noted Larsen.
Larsen explained that sound management is critical to protect consumers and the wider positive impact of this technology. He believes that digital assets can help prevent the next financial crisis, allowing the issue of global liquidity. Larsen led digital XRP as one of such examples due to its ability to produce cross-border transfers without nostro accounts. The main threat to the realization of these benefits, according to Larsen, was the excessive need for regulation.
Despite the challenges, Larsen continues to believe that the digital assets will become the driving force for positive changes in the financial industry and beyond. He hopes that through Ripple you can create a Internet of values, where money can be easily transfer across borders, as well as information.
Ninety percent of what we see today in digital assets, will not exist in ten years, but the remaining ten percent of them will change the world – said Larsen.
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