Simplify MNBCs – While the first central bank digital currencies (MNBC) are beginning to circulate in certain precursor countries like nigeria or Jamaica, the great powers of the world continue to explore technology in order to develop their own as soon as possible. To simplify some issues techniques inherent in such projects, the company Ripple now offers a turnkey platform to simplify the implementation of these new kinds of digital currencies. Direction San Francisco to understand what are the ambitions of this Ripple CBDC Platform.
A platform for central bank digital currencies dubbed Ripple CBDC Platform
According to the latest statistics from the think tank American Atlantic Council, near 90% of countries around the world are already exploring or testing their own central bank digital currency. The advantages and disadvantages of these MNBCs never cease to fuel heated discussions between For and the against. But far from the controversies, the projects are moving forward inexorably. We thus learned at the end of last week that the company Ripplealways at odds with the SEC, will offer a turnkey solution for anyone who wants to launch their digital currency. This project primarily concerns central banks, but also potentially governments or even financial institutions.
According to the press release, the idea is to offer a kind of complete toolbox to deploy an MNBC as simply as possible on the in-house blockchain:
“Leveraging the power of blockchain technology used on the XRP Ledger (XRPL), the platform will enable its users to holistically manage and customize the entire lifecycle of these fiat-backed digital currencies. , from distribution to transactions. »
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Some countries like the Republic of Palau have already adopted it
James Wallismanager at Ripple in this sector, is delighted to provide such solutions to their future partners:
“As a trusted partner of multiple central banks, we believe this platform will help solve the challenges for many central banks and governments as they plan and develop technology strategy for MNBC implementations. Our platform’s innovative capabilities will help enable instant settlement of domestic and cross-border payments, reduce risk and improve the user experience of sending and receiving these digital currencies quickly on either side of a transaction. »
Beyond the necessarily positive elements of commercial language, some countries already trust Ripple for the implementation of their MNBC. Thus the small state of Oceania of the Republic of Palau signed a partnership with the company of San Francisco, just like the monetary authority of hong kong or that of taiwan. These last two projects concern more particularly the tokenization of financial assets also possible on this Ripple CBDC Platform.
Ripple publicly highlights its long experience in the field as well as the aspect “ecological” of its blockchain to promote its platform. Of course, there is no guarantee that the company will indeed be a leader in this sector in the future, or even that the XRP token will benefit from any success of the projects in progress. However, we are clearly witnessing the establishment of a future where the MNBC will have an important place in our daily lives and the major players in traditional finance have understood this.
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