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Garlinghouse affirmed that the cryptocurrency market is currently oversaturated with worthless projects. He believes that it is “incredible” how people are trying to solve real problems with the use of blockchain technology. But, most of them are creating meaningless tokens just to benefit from the investment rush that the industry has seen.
According to Garlinghouse, out of the 3,000 different digital assets in the market, only 1 percent will prevail.
“I have said before that I think 99 percent of all crypto is likely to go to zero. But, there is that 1 percent that is focused on solving real problems for real customers and can do that on a scale. And, that is going to be game-changing and will continue to grow significantly in the years ahead.”
The former chairman at Hightail added that XRP is seeing a significant amount of traction as it accelerates the adoption of blockchain technology. He believes that SWIFT is a company that defined how cross-border payments are enabled in the world,