Ripple Presents At The World Economic Forum Annual Meeting, Ripple President Monica Long: Crypto Is Beneficial To The Global Economy

Ripple, a blockchain-based payment company and developer XRP attended a WEF meeting in Davos. (Photo; Doc. GuiadoBitcoin)

JAKARTA - Ripple, a technology company that provides financial services and cryptocurrencies, is back at the World Economic Annual Meeting at Davos which will take place on January 15-19, 2024.

Monica Long, President of Ripple, said that Ripple's presence at the forum aims to promote the crypto industry and bridge the traditional world of finance with this new paradigm.

"We want to represent the crypto industry in Davos in a professional and positive way, as well as show that we have a real solution that can provide benefits to society and the global economy," said Monica Long.

Long explained that this was Ripple's third year attending the Davos forum. He added that other crypto companies also participated, such as Coinbase, Circle, Stellar, and Hedera. According to Long, this shows that the crypto industry is increasingly gaining recognition and trust from global stakeholders.

Long looks optimistic 2024 for the crypto industry. He sees this year as a promising year for the crypto industry, as many traditional financial institutions are starting to be interested in blockchain technology and its potential applications, including payments and tokenization. He also mentioned that the approval of the SEC's ETF bitcoin spot in June 2023 was one of the factors driving new interest in the industry.

However, Long stressed that to achieve mainstream adoption, traditional and decentralized finance must work together to serve the needs of as many users as possible. This means that the crypto industry must also comply with applicable laws and regulations.

"We are committed to collaborating with governments and regulators to ensure that the crypto industry has a healthy and fair policy and regulation framework," said Long.

Currently Ripple is facing a lawsuit from the SEC, which alleges that Ripple sold XRP as an unregistered securities. The case is still ongoing in court, and is expected to reach a ruling in July 2024. Ripple denies the SEC's allegations and claims that XRP is a digital asset, not a security.