The potential for tokenization to transform various industries is immense, but widespread adoption remains a challenge. In a recent discussion, Roundtable host Rob Nelson and Brendan Berry, Head of Payment Products at Ripple, examined the hurdles and promise of integrating blockchain technology into everyday life.
Nelson began the conversation by emphasizing the intuitive value of tokenizing real-world assets. He highlighted a multitude of use cases, from fractional property ownership to improving value distribution in sports and entertainment. But he noted a persistent hurdle: the complexity of the technology. “You have to make Amazon Prime easy,” Nelson argued, emphasizing the need for a seamless user experience to drive adoption.
Berry agreed with that sentiment, drawing on his six years at Amazon. He likened the current state of blockchain technology to the early days of the internet and artificial intelligence, noting that it took decades for these innovations to permeate every aspect of life. Despite this, Berry remains optimistic, believing that blockchain and crypto adoption is moving at a much faster pace due to its inherent benefits.
Berry explained Ripple’s approach to increasing usability across its products, particularly cross-border payments. He explained how Ripple’s solutions simplify complex transactions and allow users to leverage digital assets without direct interaction. “The experience is a very simple FX transaction between two fiat currencies, paid in fiat or crypto, if requested,” Berry said, illustrating the company’s ability to abstract away complexities and provide a simple user experience.
The conversation shifted to the broader implications of this approach. Berry emphasized the importance of companies focusing on usability and ease to gain speed along the adoption curve. He argued that as more businesses adopt this mindset, the integration of blockchain technology across industries will happen more quickly.