The 14-page document is entitled ‘The Future of CBDCs’ and speaks of XRP as a neutral bridge that could bring speed and efficiency to the process of intermediating between different currencies. The document states that cross-border payments with CBDCs have so far been neglected by the central banks, and focus more on domestic use cases. According to Ripple, if the CBDCs interacted with each other, it would be easier for commercial companies to do international business. XRP is named as an example of a neutral bridge in this document, with which two different currencies can be bridged quickly and efficiently.
The US-based blockchain company PAC Global has also announced in a tweet that it would operate its own node to validate transactions on the XRP ledger. PAC Global is a partner in the Ripple-funded blockchain project Flare Networks. The XRP Ledger is operated by a Unique Node List (UNL) of trustworthy validators for processing transactions in the network, which keeps the fees comparatively low. More than 150 validators currently manage the ledger. While Ripple no longer runs the majority of them, the blockchain company is still releasing its own proposed UNL.
To learn more about CBDCs, download our ebook Central Bank Digital Currencies for Beginners – A Quick Guide into CBDCs.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.