Jump to content

Ripple is building the core ledger that mints CBDCs, says top exec


HAL1000
 Share

Recommended Posts

https://www.crypto-news-flash.com/ripple-is-building-the-core-ledger-that-mints-cbdcs-says-top-exec/

"You then create a NEW version that’s a bit more centrally controlled so central banks can be comfortable with it."

https://dailyhodl.com/2021/02/19/ripple-executive-says-company-working-with-central-banks-to-develop-digital-assets/

 

Edited by HAL1000
Link to comment
Share on other sites

Ha, minting any type of currency in Ripple is trivially easy. So it looks like Ripple's plan is to get governments and big banks to run their own private ripple nodes to manage the creation and distribution of digital assets. I suspect you'll have a lower ledger that's still private but only available to companies and accredited people. And then if we're really lucky, they'll let some of the IOUs (ahem, I mean Issued Currencies™️) trickle down to us plebes on the public XRPL. Interledger is used to connect it all together. Ripple gets paid by everybody for consulting, tech support, regulatory advice (if you want to trust them after all this), etc.

Link to comment
Share on other sites

3 hours ago, HAL1000 said:

https://www.crypto-news-flash.com/ripple-is-building-the-core-ledger-that-mints-cbdcs-says-top-exec/

"You then create a NEW version that’s a bit more centrally controlled so central banks can be comfortable with it."

 

Blockchains intended to replace a significant portions of fiat transactions won't scale unless they are private and all parties can be trusted. The value in doing this on a private blockchain is that it'll then be possible to link to a public blockchains for augmented functions.

Link to comment
Share on other sites

The whole point of using a blockchain is to remove trust. The ledger itself functions without trusting the ledger keeper(s). If every party is trusted, a centralized ledger is much more efficient. Any type of ledger can connect to public blockchains. You could literally run a ledger in an Excel spreadsheet* and connect it to the XRPL. Ripple wrote the protocol for doing so.

*Ok, so that might be difficult in practice, but I'm pretty sure it's possible.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share


×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.