Ripple CTO David Schwartz not too long ago outlined his predictions for technological developments in 2024. Notably, he centered on the synergistic potential of synthetic intelligence (AI) and blockchain know-how.
Revolutionizing cybersecurity by AI and blockchain
Schwartz predicts a major evolution in cybersecurity and monetary providers by 2024, pushed by the combination of AI and blockchain applied sciences.
This convergence is anticipated to bolster blockchain safety and supply enhanced market insights.
Automated buying and selling is predicted to see developments as a result of deeper integration of AI in monetary programs.
Moreover, AI-enabled chatbots, notably these on the XRP Ledger (XRPL), are projected to simplify improvement and promote world innovation and monetary inclusivity.
Redefining the monetary sector
Schwartz additionally foresees main adjustments within the monetary sector by Actual World Asset (RWA) tokenization, notably in actual property and commodities.
This improvement is predicted to drive the blockchain economic system, with tokenized RWAs on XRPL enhancing collateralized loans, bettering interoperability, and attracting institutional funding. Moreover, the adoption of Decentralized Id (DID) on the blockchain is about to revolutionize privateness.
DEXes (decentralized exchanges) are more likely to witness elevated institutional quantity, boosting progress and liquidity within the decentralized finance sector.
Ripple’s proposed XLS-40 modification, introducing DID capabilities to XRP Ledger, marks a major step on this path.