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On 11/19/2020 at 11:11 AM, KarmaCoverage said:

You can skip to 57:30 to hear Ripple folks, but the first guy is worth a listen.

This is a great video to get caught up / up to speed on where things are now, what foundations have been developed, and what tools are available for building on those foundations. 

On a recent podcast interview (@ about the 47:42 mark) Brad G. talks about how several Central Banks have approached the company for guidance regarding the issuance of stable coins on the XRPL. A fairly recent job listing from Ripple proves that Centra Banks are starting to realize and leverage the many powerful features of the XRPL and are not only considering stable coins (per Brad), but are also considering issuing CBDCs on the XRPL as well:


@KarmaCoverage what are your thoughts on this new development regarding the issuance of stable coins and CBDC's on the XRPL? While the XRPL is fast, I wonder if its throughput is enough for retail/wholesale CBDC volumes on-ledger? I reckon CBs and banks would transact with each other via pay-channels and/or IPL via RippleNet , with settlement on the XRPL periodically??

With that being said, it's also nice to see Ripple really starting to grow and expand their "Think Tank" and intellectual leadership relating to all aspects of traditional monetary policies and macro/crypto-economics within the organization, as well as contribute to project conceptualization, design, funding, implementation, and quality assurance with job posts like: 


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@King34Maine I think this takes things right back to 2013 and the original idea of Banks acting as Gateways to onboard value to the XRPL.

However CBDC on XRPL would be the ultimate adoption of XRPL, and would be the ultimate stable coin because IT IS true fiat. I could easily see a CB issuing CBDC, then having Narrow Banks (Uphold/exchanges) handle the customer service and KYC/AML layer.

This makes the XRP LoC product event more important, because like the CBs use SWAPs during Covid to expand the money supply of dollars in the international markets... XRP could be lent out to CBs (they need an XRPL wallet).

The market dynamics that I like about this setup is that it adds in a stabilizing aspect, without damaging the elasticity of the money supply. The CBs can "print" more CBDC IOUs on ledger, but those can be backed by XRP LoC, which is a finite supply. This would make a CBDC on XRPL less risky than a Commercial Bank deposit, backed by fractional reserve biz model.

I guess back in 2013 it was more about Commercial Bank deposits being issued on XRPL, but actual CBDC fiat is much better, because it removes the Bank Run fear of the IOUs actually being fractional reserve deposits.

Edited by KarmaCoverage
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19 hours ago, King34Maine said:

On a recent podcast interview (@ about the 47:42 mark) Brad G. talks about...

Thank you for sharing that interview, I missed it. Several good things in that, but the one that caught my ear was re Regulatory Clarity, where Brad said "other countries have deemed XRP a currency". 

Anyone have some confirmation on that, and know which countries, Japan?

I will :rofl: if it turns out that given BTC/ETH are commodities, and XRP becomes not only the 1st legally recognized "digital currency", and also the Only "digital currency". It wont be undeserved if the XRParmy taunts BTC maxis with "Look XRP is the first digital currency, lol".

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