Ripple executive Reece Merrick compared crypto payments to the early evolution of online shopping, arguing that crypto payments are moving through a similar infrastructure-building phase that preceded mainstream e-commerce adoption.
“In 2000, the dot-com bubble was bursting and buying things online was globally negligible, estimated at roughly 0.2% of all retail sales. People simply didn’t trust the web with their money yet,” Merrick shared.
He used that period to illustrate how skepticism toward new financial technologies can persist even as underlying systems improve, delaying widespread use until infrastructure and consumer trust become more established.
The Ripple executive opined:
“Just as global e-commerce spent its first decade being dismissed as overhyped, it has only become a seamless daily reality with the rise of infrastructure and smartphones.”
That transformation was driven by tangible shifts in internet access, payment security, and mobile device adoption. Online retail, once a marginal channel, now accounts for roughly one-fifth of global retail spending, reflecting sustained growth supported by advances in logistics, checkout systems, and consumer-facing technology.
Crypto Payments Continue Building Core Financial InfrastructureThe executive added:
“Today, globally, more than $1 out of every $5 spent on retail happens online,” he noted. Merrick cited that shift as an example of how technologies can move from limited adoption to routine commercial use after years of infrastructure development and growing consumer familiarity.
