The potential integration of XRP with central bank digital currencies (CBDCs) continues to gain attention and inspire hope among XRP community members.
JackTheRippler, a notable figure in the XRP community, recently shared insights regarding the testing phase of the digital euro on Ripple’s private ledger. He cited an earlier blog post from 2022, which announced the partnership between Ripple and the Digital Euro Association.
The digital euro is being tested on the #XRP private ledger.
David Schwartz: “The XRP price on the private ledger will be reflected on the public ledger once everything is fully tested.”https://t.co/JJKU9F0S9C pic.twitter.com/186DHwiaqB
— JackTheRippler © (@RippleXrpie) September 11, 2024
This partnership shows Ripple’s commitment to assisting in Europe’s CBDC development initiatives through its technology and expertise. The Digital Euro Association had chosen Ripple as a partner because of its extensive experience in blockchain solutions and cross-border payments.
A key aspect of the conversation centers around a statement from David Schwartz, Ripple’s Chief Technology Officer (CTO) shared by JackTheRippler. Schwartz said, “The XRP price on the private ledger will be reflected on the public ledger once everything is fully tested.”
This comment has led to widespread speculation regarding the future value of XRP. Many believe Schwartz and are convinced that once the digital euro testing is complete and the XRP private ledger is fully integrated with public systems, the price of XRP could experience significant upward momentum.
Ripple’s private ledger is designed to cater to central banks and government entities seeking to issue their digital currencies. Unlike the public XRP ledger, which is open and decentralized, the private ledger offers enhanced security, scalability, and speed, making it a preferred choice for large-scale testing of CBDCs like the digital euro.
By leveraging XRP as a bridge asset, Ripple aims to facilitate seamless interoperability between different forms of money, whether fiat or digital.
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What Will Happen to XRP?
The XRP community has long believed that Ripple’s technology is ideally suited for cross-border payments and digital currency issuance.
Many analysts point to the successful execution of CBDCs on Ripple’s platform as a critical milestone that could increase institutional adoption of XRP. Other countries like France are already considering XRP as a bridge currency for the digital euro.
If major central banks, such as the European Central Bank (ECB), adopt Ripple’s technology for their CBDCs, it would significantly validate the blockchain and payment solutions.
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