Embattled Ripple Developing CDBC Payments Solution
Saturday 06 March 2021, 3:21 AM AEST - 3 hours ago
good news for Ripple??Ripple has revealed in a blog post on March 3, 2021, that its piloting a private version of its XRP Ledger blockchain network. The solution is designed to function as a secure, permissioned, and flexible infrastructure for the issuance of central bank digital currencies (CBDCs).
Ripple Developing CBDC Solution
As bitcoin (BTC) and altcoins have exposed the inefficiencies of existing traditional financial systems, especially when it comes to superfast, frictionless and cost-efficient cross-border payments, central banks across the world are now working tirelessly to join the digital revolution via CBDCs.
According to the Bank of International Settlements (BIS), more than 80 percent of apex banks across the globe are working on one form of digital currency project or the other and Ripple, the highly controversial San Francisco-based financial heavyweight is now aiming to create a private blockchain infrastructure that will facilitate the issuance of these sovereign digital assets.
