Ripple wants to transfer digital …


Spark Token Flare Network Will Send XRP To $10k

Ripple wants to transfer digital ...

Ripple wants to transfer digital currencies of banks to its blockchain

  • Ripple Seeks Senior Director for Central Banking

  • Another blockchain company, ConsenSys, has actively increased its partnership with the Central Bank as part of the creation of the CBDC

  • The vast majority of transactions on the XRP Ledger network are spam

International consortium of news organizations developing transparency standards.

American fintech company intends to strengthen its position in the market of digital currencies of central banks with a new expert on cooperation with central banks

The well-known fintech company Ripple, which owns large reserves of XRP token, intends to increase its presence in the digital currency market of central banks. This is reported in the description of the new position of senior director for liaison with central banks. It is noted that Ripple is looking for an expert to lead the company’s strategy to develop support for central bank digital currency initiatives (CBDC).

Ripple wants to transfer digital ...

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A special role in this strategy will be given to Ripple’s distributed ledger – XRP Ledger. With which specific central banks Ripple will begin its cooperation is still unknown.

On the crest of a wave

Ripple’s desire to actively participate in the development of CBDC Paper bills and coins may be a thing of the past due to a new financial instrument – the digital currency of central banks (CBDC). As … More correlates with the race to transfer many of the world’s economies to the digital currency model. At the same time, many central banks do not mind cooperating with private companies that already use blockchain technology and cryptocurrencies..

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For example, the BeInCrypto editorial staff previously reported that the Reserve Bank of Australia announced a collaboration with the American blockchain company ConsenSys as part of a joint project to study the potential use of the CBDC wholesale model. In late October, ConsenSys also partnered with banking giant Societe Generale in creating France’s digital currency..

Protection of interests

However, Ripple will have to try to promote its ledger after experts from Cornell University found that most transactions in blockchains are used for other purposes. For example, on the EOS and XRP Ledger networks, most transactions have characteristics that resemble Denial-of-service (DoS) attacks. The purpose of such an attack is to bring the system to failure so that other users cannot gain access to resources..

Ripple wants to transfer digital ...

Later, David Schwartz, CTO of Ripple, agreed with the findings of the Cornell University study regarding the inappropriate use of the platform. However, Schwartz believes that spam activity in the registry is indicative of the speed, availability and capacity of XRP Ledger’s distributed storage..

XRP / USDT price at the time of writing is $ 0.46.

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