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In its predictions for 2023, the Ripple leadership team highlighted Central Bank Digital Currencies (CBDCs) as one of the biggest trends, as Bitcoinist reported. To bring this program to fruition, Ripple continues to work actively with the private and public sectors.
The U.K. is one of the places where the impact is very strong. On Thursday, January 26, James Wallis, Vice President of Central Bank Engagements and CBDCs at Ripple will deliver the keynote at a webinar addressing the potential use cases and benefits of a digital pound.
William Lorenz (Co-Director of the eBook Foundation Use Case Task Force) will participate in the discussion, chris ostrowski (Chief Executive Officer and co-founder, soda), jakub zmuda (strategy officer, modulr), andrew dare (Director of Banking Operations & Capital Markets, Consultant, cgi), claire conby (Chief Executive Officer of Billon), and David Karney, who is responsible for digital resources, worldline).
William Lorenz (Co-Director of the Digital Pound Foundation Case Study Working Group) will participate in the discussion, Chris Ostrowski (Chief Executive Officer and Co-Founder, SODA), Jakub Zmuda (strategy officer, Modulr), Andrew Dare (Director, Banking Operations and Capital Markets, Consultant, CGI), Claire Conby (Chief Executive Officer, Billon), and David Karney, who is responsible for digital resources, Worldline). The foundation is focused on developing and launching an eBook in the UK.
The announcement at the time stated that Susan Friedman, Head of Policy, would represent the foundation as a board member to strengthen Ripple’s initiative to participate in “ongoing work to engage with central banks worldwide on technical and policy issues related to central bank digital currencies (CBDCs).”
The panel will concentrate on the advantages of CBDC. With that end in mind, throughout the webinar, “a number of practitioners” who are testing or implementing real-world use cases for a digital pound will speak and discuss with a panel of experts where cbdcs and privately issued stablecoins can really achieve these goals.
That is the purpose, throughout the webinar, “a number of practitioners” who are testing or implementing real-world use cases for a digital pound will speak and discuss with a panel of experts where CBDCs and privately issued stablecoins can really achieve these goals. Ledger The role of corrugation and XRP.
The extent to which the XRP ledger or even the XRP token will play a role in a potential digital pound is as yet unknown. However, wallis revealed in a recent interview with Tony Edward of the podcast "Thinking Crypto" that collaboration with a variety of players is necessary for a CBDC.
For this, there is the Digital Pound Foundation in the UK, as well as the Digital Euro Association in Europe, and the Digital Dollar Association in the U.S.
Wallis stated:
However, Wallis revealed in a recent interview with Tony Edward on the "Thinking Crypto" podcast that working with various stakeholders is necessary to achieve a CBDC. This means in Europe, there is an association of the digital euro of which we are members and with which we work, and the eBook in the United Kingdom. ...it really is the private sector that is trying to encourage the public sector to move a bit faster.
Brooks Entwistle, SVP and MD at Ripple, revealed in another recent interview that the company does not intend to implement a solution for every central bank in the world, but is taking a targeted approach.
Takes a focused approach.
We realized we were not going to solve this issue for all the central banks in the world – we are very focused.
We've seen a great deal of interest in some of the world's smallest central banks looking for a strategy or a partner, in search of a technological solution, a lateral chain of blockers, a few thoughts on how to proceed. When asked whether central banks were interested in Ripplenet or Xrp Ledger, entwistle said they wanted to use technologies that would help them and their own people.
We have seen strong interest in some of the world's smallest central banks seeking a strategy or partner, in search of a technological solution, a lateral chain of blockers, a few thoughts on how to proceed.
When asked whether central banks are interested in RippleNet or XRP, Entwistle revealed that "Central banks want to use technologies that will help them and their own citizens. Entwistle explains further on: there are places where we can play, possibly with a side string to the xrp register.
We can help provide interoperability.
