Over 50% of global universities will embrace blockchain, crypto, Web3 and XRP and ODL in their core business by 2025

• Ripple leader predicts strong adoption of blockchain and Web3 technologies by global universities over the next two years.
• Financial institutions will also create their own blockchain and crypto strategy, but they will wait for regulatory clarity to emerge.

Although Ripple has been involved in a legal battle with the US Securities and Exchange Commission (SEC) for the past two years, that has not stopped them from expanding their base and pursuing more projects in the blockchain industry.

In its report earlier this year, Ripple shared that this year the focus will be on the real utility of blockchain technology. Ripple’s top executive also predicts that in the next two years by 2025, a staggering 50 percent of global universities will start adopting crypto, blockchain and Web3.

The future is bright for the next generation of web3 innovators.

Ripple SVP Eric Van Miltenburg predicts that over 50% of global universities will embrace #blockchaincrypto & #web3 in core business and finance programs by 2025.

— Ripple (@Ripple) 1 March 2023

Multiple collapses and multiple bankruptcies during the last year of 2022 have created a sense of doubt and suspicion in the crypto space. Also, with changing macros and interest rate hikes by the Federal Reserve, capital has dried up from the market to support new projects.

Despite these challenges, Ripple believes that fundamentally strong and utility-driven projects will continue to gather demand. Ripple SVP of Engineering Devraj Varadhan expects a fundamental shift from speculative companies to those leveraging crypto solutions to real problems.

On the other hand, central bank digital currencies (CBDCs) are once again in the spotlight. Top economies around the world have pushed for CBDC development and testing. They are exploring how to integrate CBDCs into the global financial system while facilitating instant cross-border payments.

A similar tool extends to non-fungible tokens (NFTs) too! The first major wave of NFTs in 2021 centered mainly around digital art and collectibles. The second wave, currently in its infancy, will focus on real-world use cases such as real estate and carbon markets.

Financial institutions are doubling down on the blockchain

Ripple SVP and CEO of APAC Brooks Entwistle stated that the current liquidity concerns are quite akin to past recession cycles. similar to the “dotcom bubble” crypto companies that mainly relied on hype cycles will be phased out of the market.

Sendi Young, CEO of Ripple in Europe, explains that financial institutions continue to accelerate the long-term adoption of crypto solutions amid potential gains in efficiency, transparency and speed. Young added:

Banks and other major financial institutions will invest in new technologies with the expectation of realizing the benefits not in days and weeks, but in years, so we see the embrace of digital assets and blockchain continuing through 2023 and beyond.

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As we know, top banking and financial giants such as Barclays, Goldman Sachs, JP Morgan, Mastercard, Morgan Stanley, SBI and Visa have pursued blockchain-related projects. They are also involved in providing solutions such as custody of digital assets, payments and trade execution.

Moving forward, banks will not have the question of “if” but rather “when” should they adopt a crypto strategy. Currently, regulatory developments are in full swing in the crypto space. So unless some regulatory clarity emerges, we can’t expect the banks to make a move anytime soon.

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