According to external media reports, Ripple executive Reece Merrick believes that the development path of encrypted payments is similar to that of early e-commerce. At its core, it is judged that while the market appears to be slow at the moment, the bottom-up facilities are gradually being improved, which may pave the way for subsequent wider applications.
In the early days of the electrician.
Merrick wrote on social platforms that the global share of online retailing remained very low around the year 2000, when consumers generally lacked confidence in entering bank card information on the Internet. It is with the spread of safe payment gateways, broadband networks and smartphones that electricians move from marginal to mainstream.
According to the data quoted, online retailing had accounted for about 20 per cent of global retail spending by 2026. In this caliber, more than $1 per $5 of retail spending is now available online.
Encryption payments are still laying down infrastructure
According to Merrick, encryption payments are at a similar stage and have not yet been mainstreamed on a large scale, but the industry is building the infrastructure needed to support universal access. Among the elements he mentioned were a high-expansion Layer 1 block chain, a more mobile and stable currency and a more compliant channel of access to French currency.
In his presentation, these facilities are equivalent to the “broadband” and “smart mobile phones” of the electrical age. In other words, the current focus of the industry is not just the growth of users, but the completion of payment experience, liquidation efficiency and access to funds.
Long-term focus
The focus of this review is not on short-term market performance, but rather on whether encrypted payments, like electricians, can enter a phase of faster growth when infrastructure matures. The article does not provide a clear timetable, but outlines the current state of the industry as a transition from early testing to wider commercial applications.
From the position of Ripple executives, the stabilization of currency mobility, bottom-chain performance and compliance entry are still considered to be the main conditions for the expansion of the use of encryption payments.