Brad Garlinghouse Says NFTs Are "Underrated", Sees New Use Cases

Ripple (XRP) has announced a $100 million investment in the carbon trading segment, CEO Brad Garlinghouse told Cointelegraph’s Joseph Hal...



Ripple (XRP) has announced a $100 million investment in the carbon trading segment, CEO Brad Garlinghouse told Cointelegraph’s Joseph Hall in an interview on the sidelines of the World Economic Forum’s (WEF) annual meeting, which ended Thursday.

Garlinghouse noted the growing profile of the cryptocurrency at the international summit, comparing his experiences over the past few years. “As leaders around the world learn how these technologies can really benefit their constituents, benefit their economies, they are going to use them. […] I think we see that happening every day,” Garlinghouse said.

He went on to say that non-fungible tokens (NFTs) are “underappreciated, despite the fact that there is obviously a lot of hype in some parts of the NFT market.” Specifically:

“The tokenization of various assets is underestimated.”

Garlinghouse cited the trade in carbon credits, which is often “challenged” by fraudulent activities, such as a use case for tokenization thanks to its transparency and traceability. “It could really revolutionize carbon credit markets, the efficiency of carbon credit markets,” Garlinghouse said. Ripple is investing $100 million in the segment, he added.

Related: WEF 2022: Trust and clarity lacking in carbon emissions and crypto talks

Cryptocurrency will have real-world use cases in 2022, Garlinghouse continued. Cross-border transactions are an example that Ripple is working on. Currently, cross-border transactions are “generally quite slow, quite expensive, and frankly very error-prone,” while the XRP blockchain has been “a very efficient and inexpensive bridge,” he said.

“I don’t think we live in a one-channel world,” Garlinghouse said. “It’s a multi-channel world, there will be a lot of different utility use cases.” Ripple will continue to focus on businesses, but other cryptocurrency foundations are also looking at consumer use cases, he explained.

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