Cory Johnson: Blockchain will “Change the Way Money and Value Move in Our Society”
The Milken Institute Asia Summit recently interviewed Corey Johnson, Ripple’s chief marketing strategist, and Lara Wozniak, Accenture’s growth media markets relations head. The two discussed future innovative projects in the blockchain field, regulation, and more.
Johnson began by first addressing his position that blockchain will transform the financial services industry the most. In his words:
I really do think that finances is the place where there was the most friction in our global economy. And the solutions presented by blockchain are so obvious that they’re really going to change the way money and value move in our society.
He also added that people were ready for change and have started asking questions, such as why cross-border payments take three days or more, when it is possible to conduct a text transaction in seconds.
The paid also addressed whether regulators were ready to accept such changes. According to Johnson, regulators are currently trying to determine speculation on cryptocurrencies and added that the subject has caused regulators to feel uncertain on blockchain. Such a stance does not mean that regulators are completely opposed to the technology. Rather, Johnson mentioned that they’ve also been more curious. As he’s stated:
When we meet with regulators, I have personally been really surprised by how much they know, and how much they really want to know. They don’t seem to walk into this, with sort of this notion of fear and doubt, they actually want to listen and learn.
Johnson then discussed that entrepreneurs all over the world are developing blockchain solutions using blockchain and digital assets and cited examples, such as XRP. Even though there has been some hostility by regulators toward cryptocurrencies and blockchain, it hasn’t stopped development.
He ended by stating:
The world is more global than ever before. And entrepreneurs are going to pick up and leave and go to the place where those technologies . . . and you don’t have to be in Silicon Valley to develop technology where I still think it’s the best place, but there are more options now.