Ripple, a US-based blockchain company, has been testing a private version of the XRP Ledger to support central banks in the issuance of central bank digital currencies (CBDCs).
The company mentioned that the CBDC Private Ledger is built for payments and is based on the same blockchain that powers the XRP Ledger. Additionally, Ripple highlighted the growing interest in CBDCs around the world and mentioned that the arrival of the world’s first CBDC is inevitable, according to Finance Magnates.
Ripple mentioned that most blockchains are public ledgers and lack the privacy a central bank requires. The company added that a private ledger is a more suitable option for a central bank to issue and manage a CBDC. Several digital currencies have been issued on the XRP Ledger over the past few years.
To learn more about CBDCs, download our ebook Central Bank Digital Currencies for Dummies – A Quick Guide into CBDCs.
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