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Private Ledger for CDBCs! Rip XRP?


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https://ripple.com/insights/ripple-pilots-a-private-ledger-for-central-banks-launching-cbdcs/

So the speculations about a hidden ledger for banks actually were true.

Imo Ripple is cutting out retail and xrp wont ever be used directly by banks or any other FI in the future.

Also they didnt mention if the cdbc ledger is a hardfork and will come with a new native asset eg. "xrp2" This would basically render xrp as a bridging utility for the 2 ledgers useless.

What does this mean for future adoption and demand of xrp?

Any thoughts?

 

Edited by XrpChad
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23 minutes ago, XrpChad said:

https://ripple.com/insights/ripple-pilots-a-private-ledger-for-central-banks-launching-cbdcs/

So the speculations about a hidden ledger for banks actually were true.

Imo Retail is getting cut out of the deal and xrp wont ever be used directly by banks or any other FI in the future.

Also they didnt mention if the cdbc ledger will come with a new native asset eg. "xrp2" which would basically render any bridging utiility for xrp useless.

What does this mean for future adoption and demand of xrp?

Any thoughts?

 

Your missing a key point that has been stated on here over and over and other sources also.  CDBC's still need a digital bridge as no bank will want to hold another countries digital or non digital asset.  That puts us back in the same conundrum were already in.  This actually is great for XRP.  The big hurdle for XRP retail investors is being deemed a security or not and what that means

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Just now, RikkiTikki_is_Back said:

Your missing a key point that has been stated on here over and over and other sources also.  CDBC's still need a digital bridge as no bank will want to hold another countries digital or non digital asset.  That puts us back in the same conundrum were already in.  This actually is great for XRP.  The big hurdle for XRP retail investors is being deemed a security or not and what that means

isnt it a hardfork with its own native asset?

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31 minutes ago, XrpChad said:

https://ripple.com/insights/ripple-pilots-a-private-ledger-for-central-banks-launching-cbdcs/

So the speculations about a hidden ledger for banks actually were true.

Imo Ripple is cutting out retail and xrp wont ever be used directly by banks or any other FI in the future.

Also they didnt mention if the cdbc ledger is a hardfork and will come with a new native asset eg. "xrp2" This would basically render xrp as a bridging utility for the 2 ledgers useless.

What does this mean for future adoption and demand of xrp?

Any thoughts?

 

You new? Lol XRP is the bridge asset. 

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9 minutes ago, XrpChad said:

isnt it a hardfork with its own native asset?

No from what I am reading it's running on a private ledger, think VPN, you still have to tunnel out your VPN and utilize the public internet to transact in HTTP, ETC and communicate your just shielded from a lot of the public chatter but you still have to interact publicly to get anything done outside your walled garden.  I imagine going forward this will be the model for any bank issuing CDBC's whether they use Ripple or not, banks will want minimal exposure to public ledgers Get in, Transact and get out!!  Pretty soon the Banks are going to start running these exchanges out of business with the exception of the exchanges that have had the fore thought to become a bank.  What I mean by running them out, these Banks will start acting as exchanges and have the full backing of government legislation behind them.  Kraken is a bank in Wyoming, Coinbase is going public and I am pretty sure a banking license is on the horizon.

Edited by RikkiTikki_is_Back
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Posted (edited)
11 minutes ago, RikkiTikki_is_Back said:

No from what I am reading it's running on a private ledger, think VPN, you still have to tunnel out your VPN and utilize the public internet to transact in HTTP, ETC and communicate your just shielded from a lot of the public chatter but you still have to interact publicly to get anything done outside your walled garden.  

Can any ripple employee confirm that xrp is the bridging asset and ripple is not hardforking the Xrpl? @JoelKatz@nikb@mDuo13

Edited by XrpChad
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5 minutes ago, XrpChad said:

Can any ripple employee confirm that xrp is the bridging asset and this is not a hardfork? @JoelKatz@nikb@mDuo13

 

6 minutes ago, XrpChad said:

Can any ripple employee confirm that xrp is the bridging asset and this is not a hardfork? @JoelKatz@nikb@mDuo13

No it’s not a hard fork! Don’t believe what you are told then go check on Twitter, David explains it over there 🥱

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18 minutes ago, XrpChad said:

where do you get that info from? its not mentioned int the article.

From the article

"This also means the CBDC Private Ledger is designed for issuing currencies, with over 5,400 currencies issued on the XRPL over the past 8 years, including its native digital asset XRP — which can be leveraged as a neutral bridge asset for frictionless value movement between CBDCs and other currencies."

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Posted (edited)
16 minutes ago, Jmotts said:

From the article

"This also means the CBDC Private Ledger is designed for issuing currencies, with over 5,400 currencies issued on the XRPL over the past 8 years, including its native digital asset XRP — which can be leveraged as a neutral bridge asset for frictionless value movement between CBDCs and other currencies."

ok, so then its actually good for xrp. Thanks for getting this clear!

Edited by XrpChad
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Where on earth does that sound good?

They've built a new ledger that works just like the XRPLedger.

Multiple currencies can be mapped on this private CBDC ledger. So they can be quickly exchanged back and forth on this ledger as well.

Only when the CBDC ledger is abandoned does XRP possibly come into play as a bridge, but why should that happen when a large number of the CBDCs are on a CBDC ledger?

They don't build a separate ledger for each CBDC. The currencies remain among themselves.

 

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2 minutes ago, Elysium2030 said:

Where on earth does that sound good?

They've built a new ledger that works just like the XRPLedger.

Multiple currencies can be mapped on this private CBDC ledger. So they can be quickly exchanged back and forth on this ledger as well.

Only when the CBDC ledger is abandoned does XRP possibly come into play as a bridge, but why should that happen when a large number of the CBDCs are on a CBDC ledger?

They don't build a separate ledger for each CBDC. The currencies remain among themselves.

 

OK now i dont understand anything anymore.. what is going on?

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