Ripple freezes in Georgia. It is sometimes difficult to follow the twists and turns involved in the cryptocurrency sector. A situation whose perfect example is none other than the Ripple project. In fact, the latter comes from achieve a resounding – but not yet complete – victory against the United States Securities and Exchange Commission (SEC). However, his trial remains scheduled for April 2024. But this obviously does not prevent the National Bank of Georgia from using its payment infrastructure. Announced objective: to develop a pilot project for its MNBC called Lari digital (GEL).
Central Bank Ripple
Despite its persistent regulatory woes, it is clear that the Ripple project continues to develop. Obviously, its strategy is increasingly oriented outside the now hostile territory of the United States.
This is undoubtedly the reason why he has just decided to pack his bags to participate in a central bank digital currency project (MNBC – CBDC in English) located in Georgia.
A partnership welcomed by the local central bank (NGB) in an official press release from the Ripple company:
“ We are pleased to choose Ripple as the official technology partner for our Digital Lari (GEL) pilot, after conducting a thorough review of all shortlisted parties. The committee selected Ripple based on its technical excellence and team expertise. »
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A project supported by the Ripple CBDC platform
A partnership which will allow the Central Bank of Georgia to benefit from the tools put in place by the Ripple CBDC platform, specially designed for this purpose. All based on XRP Ledger technology responsible for managing its proper functioning using a private network.
And as James Wallis, vice-president of CBDC at Ripple, explains, this will make it possible to explore “how it is possible to use blockchain technology to bring your economy into the digital age. »
“This pilot project will pave the way for transformative advancements in the use of blockchain technology within the public sector. Our partnership with NBG demonstrates our commitment to driving innovation and efficiency, enabling public and private entities to unlock the full potential of secure and transparent blockchain transactions. »
Ripple announces that it is in discussions with more than 20 countries around the world as part of projects related to MNBC. And already 5 pilot programs are underway with the governments and central banks of Bhutan, Palau, Montenegro, Colombia and Hong Kong. A booming sector…
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