The cryptocurrency startup Ripple has unveiled a framework for the turnkey issuance of CBDCs, giving governments, financial institutions, and central banks the ability to quickly launch their own digital currencies. The unveiling of this cutting-edge platform has generated interest in how it may affect XRPL, the primary ledger technology that powers Ripple’s operations.
One of the designers of XRPL and Ripple’s chief technical officer, David Schwartz, offered his opinion on the subject. He emphasised the relevance of XRP Ledger and claimed that the new platform, which is built using the same basic ledger technology, only serves to emphasise that value. Schwartz also emphasised how the new technology may work in unison with XRPL and use XRP as a bridge currency for international and cross-currency transactions.
To use or not to use XRP
During the conversation, a member of the community asked Schwartz a crucial question about whether the platform will actually use XRP as a bridge currency.
of response, Ripple’s CTO recognised the difficulty of foreseeing other people’s decisions. He emphasised, however, that their main goal is to remove technological obstacles and encourage user-friendly goods. Schwartz said he was hesitant to suggest the creation of products that mandate the use of XRP unless they had XRPL-specific features.
This careful approach makes sure people won’t be put off from using the product since XRP usage is required. Instead, he emphasised the need of developing tools that enable users of the platform who are not necessarily fans of XRP to do so. Schwartz claims that this strategy broadens the user base, possibly boosting the amount of people who can easily utilise XRP if it offers them any advantages.
