Ripple may soon unveil positive developments in its central bank digital currency (CBDC) projects, following signs to come from Ripple CBDC advisor Antony Welfare.
Crypto influencer Santosumosaba shared on Twitter on September 6 that Ripple was in the midst of several CBDC pilot programs, including one in Bhutan and another in Palau.
Ripple Senior Advisor Welfare, which handles CBDC Europe and Global Partnerships, responded to the same thread, saying “more CBDC announcements” could happen “in the next few weeks.”
Thank you @sentosumosaba For Mention – Make sure you follow me for more CBDC announcements in the next few weeks
— Antony Welfare (@ Antony Welfare) September 6, 2022
Since operating a private version of the XRP Ledger in March 2021, the company has become increasingly active in the development of central bank digital currencies, which provide a platform for central banks to securely issue CBDCs.
Just last week, Ripple was identified as one of the early participants of a “technological sandbox program” launched by the US-based think tank Digital Dollar Project, which aims to explore the potential technical and commercial implications of CBDCs in the United States. Had to do.
Ripple joined the European think tank Digital Euro Association in February as a supporting partner to jointly drive the development and growth of CBDC and Digital Euro.
In September 2021, Ripple Labs announced that it was partnering with the Royal Monetary Authority of Bhutan to issue and manage a digital angultrum aimed at improving cross-border payments for CBDCs in the Kingdom of South-Central Asia. can be operated.
Part One: Learn More About It @ Wave #CBDC Solution that is built on a private ledger based on XRP Ledger technology – a proven blockchain that has processed over 70 million transactions over the course of 10 years #xrpl pic.twitter.com/HL6lhYhLDJ
— Antony Welfare (@ Antony Welfare) September 5, 2022
Two months later, the blockchain company formed a partnership with the Republic of Palau to help the Pacific island develop its own climate-friendly digital currency, although it said it would operate more like a USD-backed stablecoin than a CBDC.
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In June, the blockchain company also launched its first online CBDC hackathon called “Ripple CBDC Innovate.”
The competition attracted 483 participants to build CBDC-focused applications that either improve the interoperability of CBDCs and digital assets, make it easier for retail use and interaction, or bring banking to underserved populations. deliver.
According to the CBDC Innovate website, the finalists for the first phase will be announced on September 8, who will then move on to the second phase of the competition.
Part Two: Learn More About It @ Wave #CBDC Solution: Built on a private ledger, based on XRP Ledger technology – a proven #blockchain which has closed over 70 million blocks during 10 years #xrpl #CBDC #future payment pic.twitter.com/ks53QzMg26
— Antony Welfare (@ Antony Welfare) September 6, 2022
