XRP

XRP (Breaking News) World Economic Forum Wants To Introduce XRP As Global Payment Currency





XRP (Breaking News) World Economic Forum Wants To Introduce XRP As Global Payment Currency

World Economic Forum Names XRP As Crypto Asset Most Relevant in Central Bank Digital Currency Space

The World Economic Forum (WEF) is looking at Ripple’s native currency, XRP, as the most relevant cryptocurrency in the emerging central bank digital currency (CBDC) space.

In a report published early this year, the WEF says that central banks and government agencies are looking at the potential of CBDCs to solve perennial global financial issues such as financial inclusion and the stability of payment systems. The Geneva-based international organization also made a clear distinction between CBDCs and cryptocurrencies.

“CBDC is a digitized version of sovereign currency, created and issued by, and a liability of, the country’s monetary authority. CBDC differs from other forms of digital or virtual currencies, including cryptocurrencies such as Bitcoin and ‘stablecoins,’ which are not issued by central banks or typically considered legal tender.”

Although the WEF is drawing a clear line between the two forms digital assets, it names XRP as the most relevant cryptocurrency in the wholesale CBDC space for intra or inter-bank payments and settlements.

What makes XRP different?
The important difference between the example above and Ripple is that with Ripple, trust relationships are automated on a blockchain that tracks all accounts, balances, and IOUs. This blockchain is the Ripple Ledger. Every participant in the network who can send transactions and/or holds XRP is defined as an account.
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