Ripple builds private blockchain for creating central bank digital currencies

In short

  • Ripple unveiled a pilot project of a private ledger for central bank digital currencies.
  • The new solution is focused on high throughput, scalability and interoperability.

Blockchain payments-centric company Ripple is experimenting with a new private ledger tailored to central bank digital currencies (CBDCs), according to a ad posted yesterday.

A poll recently conducted by the Bank for International Settlements showed that over 80% of the world’s central banks are already looking into CBDCs. In turn, Ripple aims to tap into this industry by offering “a secure, controlled and flexible solution” for issuing and managing CBDCs.

The company noted that while central banks can theoretically use some of the existing blockchains for their CBDC projects, most …

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