Ripple : We have created a Private version of the XRP ledger which allows banks to issue CBDC and manage them.

[HAL1000]

ALSO

 

Edited October 28, 2021 by HAL1000

[wojake]

Interesting stuff but how will XRP be exchanged and tracked between different networks, so the XRP Ledger is now a hybrid centralized/decentralized network where institutions and governments can maintain their own network while being connected to the XRP Ledger. I still don't fully understand how this works.

[HAL1000]

1 minute ago, wojake said:

Interesting stuff but how will XRP be exchanged and tracked between different networks, so the XRP Ledger is now a hybrid centralized/decentralized network where institutions and governments can maintain their own network while being connected to the XRP Ledger. I still don't fully understand how this works.

My brain is only half working today, so think of it this way, Intranet vs Internet each individual bank can use the XRPL for their own internal stuff, but if they want to send payments between each other, then that requires them to have to interact with the public XRPL. So to send payments to each other (across borders), then they still need XRP so as to do that. They don't have some completely separate network for cross border payments.

[NightJanitor]

42 minutes ago, HAL1000 said:

My brain is only half working today

i'm at like 1/8th, today... jesus... anyway, the word that came to my mind was "Sidechains!"

That's all I can muster, at the moment.   I think someone did a video w/CLI demo of it...

(On a lighter note, very funny that someone hired Matt Damon - that's a little on the nose!)

Edited October 28, 2021 by NightJanitor
janitors of the world, unite! very funny.

[peanut56]

As a perma-Half brain I only see is as the CBDC issuer/nation has a private (intranet) ledger that it controls, but when it chooses or if it chooses to do so there is a interoprability between their private network and the public network that would use xrp to transact across borders. I would assume that for this to work the Digital CBDC will some how be subtracted from its private ledger with the purchase of xrp then when the reciver recieves xrp that xrp will be used to purchase or or produce that nations CBDC or they could just keep the xrp. Maybe someone else can fix my logic flaw, because I already know it exists in the above scenerio.

[Babelly]

1 hour ago, NightJanitor said:

i'm at like 1/8th, today... jesus... anyway, the word that came to my mind was "Sidechains!"

That's all I can muster, at the moment.   I think someone did a video w/CLI demo of it...

(On a lighter note, very funny that someone hired Matt Damon - that's a little on the nose!)

Well Ripple hired Snoop Dog so go figure

[King34Maine]

2 hours ago, wojake said:

Interesting stuff but how will XRP be exchanged and tracked between different networks, so the XRP Ledger is now a hybrid centralized/decentralized network where institutions and governments can maintain their own network while being connected to the XRP Ledger. I still don't fully understand how this works.

The CBDC Ledgers are not the same as the XRPL. Remember, these are private centralized proprietary ledgers that Ripple is building for CBs using the open-source tech from which the XRPL was created. The XRPL will remain as is. These private CBDC ledgers are essentially a representation of the federated side-chains implementation that Ripple showcased back in June of this year. 

My guess is that Ripple will use a combination of the Interledger Protocol (ILP) and the federated side chain tech to connect/link the different private CBDC networks and any other payment or blockchain network together. Remember, ILP is the underlying currency/information/platform-agnostic technology upon which RippleNet is built.

[wojake]

7 minutes ago, King34Maine said:

The CBDC Ledgers are not the same as the XRPL. Remember, these are private centralized proprietary ledgers that Ripple is building for CBs using the open-source tech from which the XRPL was created. The XRPL will remain as is. These private CBDC ledgers are essentially a representation of the federated side-chains implementation that Ripple showcased back in June of this year. 

My guess is that Ripple will use a combination of the Interledger Protocol (ILP) and the federated side chain tech to connect/link the different private CBDC networks and any other payment or blockchain network together. Remember, ILP is the underlying currency/information/platform-agnostic technology upon which RippleNet is built.

Thank you king, appreciate it.

Can't wait to see shitcoin-ers maintain their own sidechain so XRPL users can gamble away their 10 XRP.