The Currency Analytics
By Ayobami Abiola
Central Bank Digital Currencies (CBDCs) are Banks’ way of responding positively to Blockchain Technology in 2020.
PBOC recently released a draft law to prohibit the creation of yuan-pegged cryptocurrencies.
Other countries are beginning to wake up and make research on the potential of CBDCs. Many Government and government bodies are making moves to collaborate with crypto companies…
According to a recent Ripple insight, it is believed that the best CBDC will be the one which will encourage interoperability with other country’s.
“RippleNet’s On-Demand Liquidity service allows financial institutions to transact in real-time across multiple global markets using the digital asset XRP and such a solution can…
Ripple believes that there will be no particular digital asset to rule them all. It continues to work to connect central banks from all over the world.
“We don’t believe there will be one digital asset to rule them all, nor do we think that a dominant digital currency, whether decentralized or government-backed, is a good thing…
Ayobami Abiola, a writer, and cryptocurrency enthusiast believe that RippleNet’s ODL will become very useful in interconnecting CBDCs. He opined:
“#Ripple encourages the #interoperability of the #fiat systems. There is no doubt that it will find its actual calling in interconnecting #CBDCs from different countries.