Ripple has announced a new development of a private version of the XRP Ledger that will help central banks issue digitalcurrencies (CBDC).
The company is already preparing to pilot test a private version of the public XRP ledger
Ripple representatives noted increased interestbanks to issue CBDC and the inevitability of adoption of cryptocurrencies by the traditional financial system. Central banks have been experimenting with digital currency for a long time, but most of them have public ledgers.
Financial institutions need to hide theiractions from the public, and ensure a high degree of privacy and security of transactions. Therefore, Ripple emphasizes that a private network would be ideal for issuing and managing CBDCs.
The new public ledger CBDC will be able to “transfer funds to any corner of the world reliably, almost instantly and inexpensively.” In addition, the new private ledger will be able to handle huge volumes of transactions.
According to the announcement, the new CBDC will be capable of handling tens and hundreds of thousands of transactions per second and will use the same consensus protocol that XRP Ledger uses.
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