KuCoin Hack Approaches $200,000,000 in Stolen ETH, BTC, LTC, XRP, BSV, XLM, TRX, and USDT
September 29th 2020
XRP is the most relevant crypto in the emerging CBDC space
Now, it’s been revealed by the online publication the Daily Hodl that The World Economic Forum (WEF) just said that Ripple’s native currency, XRP, is the most relevant crypto in the emerging central bank digital currency (CBDC) space.
The WEF published a report this year which highlights the fact that central banks and government agencies are looking at the potential of CBDCs to solve global financial issues that have been lingering for years.
Such issues include financial inclusion and the stability of payment systems.
The Geneva-based international organization also made it very clear that there’s a strong distinction between CBDCs and cryptos:
“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.”
as you can see, the WEF drew a line between these two forms of digital assets and they also made sure to call XRP the most relevant crypto in the CBDC space.
XRP can support the use of CBDCs
It’s also worth noting the fact that Ripple said in a recent blog post that the central banks all over the world are looking to develop their very own CBDCs.
The firm also explained how they could use XRP in order to facilitate and support the use of CBDCs.
“RippleNet’s On-Demand Liquidity service allows financial institutions to transact in real-time across multiple global markets using the digital asset XRP and such a solution can also support the direct exchange of CBDCs “efficiently.”
We recommend that you check out the complete report in order to learn all the available details.