Ripple becomes part of the Digital Pound Foundation

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The blockchain-based digital payment company-Ripple-joined the Digital Pound Foundation to help the creation of a digital central bank currency.

in cooperation with the Digital Pound Foundation

according to a current Announcement , the Enterprise Blockchain provider will continue his commitment in CBDC projects by joining the Digital Pound Foundation.

the latter was launched on October 14 by a group of founding members and is an independent forum with the aim of supporting the implementation of a digital pound and digital money ecosystem in the United Kingdom. Except, separate, except Ripple, other members are accenture, avalanche, Billon Group, CGI, Electronum and Quant.

The blockchain provider will appoint Susan Friedman-Head of Policy-as his deputy. She commented:

"We are pleased to support the design and implementation of a digital pound in partnership with the Digital Pound Foundation. The foundation will help to achieve the British goal of building up a more integrative and sustainable financial system."

In his announcement, Ripple recalled that more than 80 % of the central banks check some digital projects such as CBDCs that could potentially improve the currency system. Therefore, the solution to the payment network could be beneficial to the goals of the DPF.

ripple’s other CBDC projects

This is not the first time that the blockchain provider takes part in such a program. How crypto potato last month has reported Bhutan's central bank - the Royal Monetary Authority (RMA). Together ripple to design a digital version of its state currency.

By starting the initiative, the RMA expects "digital and cross -border payments to improve in the next two years and to expand the efforts to integrate financial integration" by 85 %.

ripple claimed that his CBDC solution of the green politics of Bhutan had grown, since the Asian country is the only CO2 negative country worldwide.

“Rippleda's commitment of Bhutan for sustainability was important for Bhutan. The CBDC solution is climate-neutral and, since it is based on the public XRP Ledger, 120,000 times more energy-efficient than proof-of work blockchains,” said the company.

afterwards, Ripple said his network of Bhutan's central bank would give more control over the edition, administration, privacy and validation than they would receive with public blockchains.

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