Community Trust ScoreLikely Real
Ripple is planning to hire hundreds of people in 2022 when they’ve already hired a ton this year. This just looks like they are poised to win the law suit. Obvious they are going a lot to improve on their stuff related to cross border payments and other faculties.
Otherwise, for those who missed: Ripple insights point to how Ripple are continuing to engage with central banks globally on technical and policy issues related to CBDCs.
The design and implementation of the digital pound is a way forward with the future of CBDCs. Ripple have recently announced the Digital Pound Foundation, which is a non-profit which is exclusively focused on the development and implementation of the digital pound in the United Kingdom.
Ripple is a member at the Digital Pound Foundation, which is an independent forum which supports the implementation of a well-designed digital pound.
In the foundation, Ripple, is represented on the board by Susan Friedman, Head of Policy. Ripple’s participation in the Foundation continues to be their ongoing work consisting of engaging central banks globally on technical and policy issues related to central bank digital currencies (CBDCs).
It is well known that 80% of Central Banks are exploring some kind of sovereign backed cryptocurrency, which also includes CBDCs.
The Bank of England acknowledges that the evolving digital payments landscape is bringing in the potential for faster, cheaper, sustainable and efficient payments that provides for greater functionality.
To achieve the full potential of digital payments, it becomes important to collaborate with different actors. This is exactly what the Digital Pound Foundation is focusing to bring in. They are looking to bring in a diverse array of members to make sure that UK maintains a globally competitive lead in the process of financial innovation.
It is obvious that more and more central banks are implementing CBDCs. Thus, interoperability, privacy and complete sovereignty are the key to enable central banks to move money cost-effectively, reliably and instantly.
Ripple are piloting the retail, cross-border and wholesale payment use cases by a strategic partnership with Bhutan’s Central Bank and the Royal Monetary Authority (RMA) thus facilitating use cases for digital Ngultrum using its CBDC solution. This partnership is further expected to improve digital payments to improve financial inclusion efforts.
Thus, every partnership with Ripple is about making money transfer comfortable making it easy to achieve financial inclusion of the unbanked. It just looks like Ripple are targeting to be the go place for CBDC solutions.
Community Response: Once the banks start to do cross-border payments, they will use XRP to bridge these currencies and the price should technically start going up drastically. Time will only tell.
Ripple as a company has nothing to do with XRP as a coin. Ripple used the money from XRP to invest in its main business, while their white paper doesn’t state anything about them having to reinvest or share any of their profits in XRP token. Supply but no demand.
All of you wishing and thinking XRP (digital asset) will move mountains. Fair! How about Ripple (the company) share’s then? How will you value the company itself compared to your XRP expectations?
Are you trying to say UK will be online shortly? Cannot wait.
The UK would love to regain their Fin Center status and do a subtle ‘rug pull’ on the US.
The CBDC will be dangerous. Imagine an illogical mandate you refuse to comply? With the push of a bottom puff. Your money gone or they can force you to spend your money in a certain period or it expires.
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