Ripple CEO Brad Garlinghouse has stated that Bitcoin could be outpaced by cryptocurrencies which better engage with regulators.
Speaking at the 2018 Code Conference in California, Garlinghouse said Bitcoin could become the “Napster of digital currency”.
“Napster showed us what’s possible, but in the end, it was Spotify and iTunes and Pandora that won the day because they engaged with regulators,” he said.
Stanford professor and Coinbase board member Kathryn Haun added that it will be years before regulation is created to deal with cryptocurrencies and blockchain technology.
She said regulation should not outpace understanding, and if regulation had been created a year ago, it would quickly become outdated by the rise of ICOs.
“It’s important to wait and see how the technology develops,” said Haun.