Ripple CEO Brad Garlinghouse is set to participate in the prestigious World Economic Forum (WEF) in Davos, scheduled from January 15th to 19th, 2024 this week. Notably, this year marks a significant shift in Ripple’s engagement at the WEF, transitioning from peripheral events to a direct involvement in the forum’s central discussions.
Garlinghouse will be a key participant in the “Clear-Eyed about Crypto” panel on January 18, from 17:30 to 18:15 CET. The WEF website outlines the panel’s agenda as exploring the divergent global attitudes towards digital currencies, ranging from their embrace as a cornerstone of innovation and inclusive finance to outright bans.
The panel aligns with the WEF’s Centre for Financial and Monetary Systems, which focuses on enhancing the financial system through technology, promoting individual financial well-being, and supporting climate action through financial transformation.
Joining Garlinghouse on the panel are esteemed figures such as Paul Mo-po Chan, Financial Secretary of the Hong Kong Special Administrative Region, Michael Sonnenshein, CEO of Grayscale Investments, Daniela Stoffel, State Secretary for International Finance of Switzerland, and Brendan Vaughan, Editor-in-Chief of Fast Company.
Ripple Seeks To Engage With Global Leaders
In an interview with Financial News, Ripple President Monica Long elaborated on the significance of Ripple’s presence at the WEF. “It’s critical for our industry to be represented at Davos by mature players who can help dispel the hype that often distracts from the real work being done. Ripple’s attendance is a testament to our commitment to engaging with global leaders and shaping the conversation around the future of finance,” Long stated.
Ripple joins other prominent crypto organizations such as Circle, Coinbase, Stellar, and Hedera at this year’s forum. Long underscored the industry’s evolution despite recent challenges, noting, “Despite a bear market, institutional interest in blockchain and Web3 has accelerated in the past year — particularly among large financial institutions, banks, and asset managers, which are increasingly recognizing the tangible use cases of the technology, be it payments, tokenization, or custody.”
The WEF’s agenda reflects the growing prominence of blockchain and digital assets in global financial discussions. A key topic this year is ‘The Tokenisation Economy’, which will explore blockchain’s role in enhancing financial inclusion. The panel includes Circle CEO Jeremy Allaire and Stellar CEO Denelle Dixon, among others.
Crypto Industry Thrives Despite Tough Challenges
Long also addressed the industry’s efforts to rebound from the setbacks of 2023, marked by the collapse of major entities like FTX, BlockFi, Celsius, and Three Arrows Capital. “This year’s Davos gathering is taking place amid a backdrop of a 150% annual surge in bitcoin and growing institutional interest from heavyweights such as BlackRock and Fidelity,” she noted, highlighting the sector’s resilience and evolving landscape.
Furthermore, Long emphasized the need for industry engagement with regulatory bodies to foster mainstream adoption. “For continued mainstream adoption, decentralized finance and traditional finance need to work together. The industry must engage with governments to ensure that sound policy and regulatory frameworks are established,” she advised.
This call to action is particularly relevant given the regulatory progress in the US, including the approval of 11 spot Bitcoin ETFs and advancements in global crypto regulatory frameworks. As the WEF convenes, the crypto industry, represented by leaders like Garlinghouse and Long, is set to make another step into mainstream adoption.
At press time, XRP traded at $0.57752.
Featured image from Axios, chart from TradingView.com
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