Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Ripple (XRP)

RippleX VP Explains Ripple’s Role in Creating Central Bank Digital Currencies (CBDCs)

Solomon Odunayo February 19, 2021 3 min read
RippleX VP Explains Ripple’s Role in Creating Central Bank Digital Currencies (CBDCs)

James Wallis, the RippleX vice president, has recently explained the role of Ripple, the San Francisco-based payment firm, in helping central banks to create their customized digital currencies.

According to James Wallis in a new interview on the Voice of FinTech podcast, Ripple has no plan to eliminate the existing financial system, but to rather compliment it.


trade now

James Wallis noted:

“We are building and implementing technology, we’re not trying to disintermediate the existing financial system. We’re trying to make it better. What we’re really trying to do is bring our technology and our expertise to the enterprise world.”

Read Also: Ripple CTO Reveals His Crypto Positions Aside From XRP; Cardano (ADA), Stellar (XLM) Included

He also mentioned the effort the fintech is putting in place to build the technology that can be used to create, distribute, and track the transactions of CBDCs on the systems of record and on the blockchain. Wallis thinks an existing decentralized ledger such as Ripple’s would serve as a better solution in that regard.

Wallis said Ripple could leverage the experience it’s been using to manage an open-source project such as XRP Ledger to create a version that is somewhat centrally controlled, which a central bank could use and control comfortably without losing the hold on their monetary policy.

He said, “We are working with central banks to build out these capabilities that I mentioned, and the solution will be a mixture of open-source technology, maybe some elements from RippleNet down the road.”

Meanwhile, Ripple has started taking steps in order not to lag behind in the upcoming era of central bank digital currencies. Sometimes in November 2020, the firm published a job listing on Greenhouse.io, which seeks to hire a senior director of central bank engagements.

Read Also: American Rock Musician Gene Simmons Reveals He’s Bought XRP and Dogecoin (DOGE)

The statement reads as follows:

“Ripple is looking for a proven leader to lead our strategy, partnerships and project work with central banks around the world with an initial focus on supporting their central bank digital currency (CBDC) initiatives on XRP Ledger.

In this role, you will define and lead Ripple’s strategy with central banks, build relationships with and educate central bankers around the world, and secure and manage partnerships with central banks to build and deploy projects.”


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: SEC Refers To XRP As a “Digital Asset Security” In Its Amended Complaint, Makes Its Stand Confusing
Next: Former SEC Chair Mary Jo White Defends Ripple and XRP, Says SEC Is Dead Wrong Legally

Related Stories

Ripple (XRP): Will Holders See Another Crash After Latest Spike?
2 min read
  • Cryptocurrency
  • News
  • Price Analysis
  • Ripple (XRP)

Ripple (XRP): Will Holders See Another Crash After Latest Spike?

July 25, 2022
Ripple (XRP): Evaluating the Perplexing Performance Despite Trading Volume Surge
2 min read
  • Cryptocurrency
  • News
  • Price Analysis
  • Ripple (XRP)

Ripple (XRP): Evaluating the Perplexing Performance Despite Trading Volume Surge

July 17, 2022
Ripple (XRP): Assessing This Defending Zone’s Strength
2 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • News
  • Price Analysis
  • Ripple (XRP)

Ripple (XRP): Assessing This Defending Zone’s Strength

July 5, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,664.00
0.60%
ethereum
Ethereum (ETH)
$1,999.80
0.22%
tether
Tether (USDT)
$1.00
-0.04%
usd-coin
USD Coin (USDC)
$1.00
-0.30%
binancecoin
BNB (BNB)
$328.62
0.90%
cardano
Cardano (ADA)
$0.59
5.82%
ripple
XRP (XRP)
$0.387423
1.65%
Binance USD
Binance USD (BUSD)
$1.00
-0.32%
polkadot
Polkadot (DOT)
$9.47
-0.41%
dogecoin
Dogecoin (DOGE)
$0.079475
8.75%

Recent Posts

  • What is a Bear Trap in Trading and How Does It Work?
  • FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
  • All You Need To Know About Virtual Asset Service Provider (VASP)
  • Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
  • Nvidia Launches New Developer Tools To Up Its Metaverse Bet
  • Velocity Trade Review – Is Velocity Trade Scam or a Proper Broker?
  • Blockchain vs. Database: How Do They Differ?
  • Paper Wallets: How To Secure Your Crypto Assets
  • New Report Says Nigeria Has Become the Most Crypto-obsessed Country
  • Institutional Demand for BTC Is Insatiable, Says Kevin O’Leary
  • Money-Laundering And Wash Trading In NFTs – All You Need To Know
  • Alfabtc Review – Is Alfabtc Scam or a Proper Broker?
  • Ethereum Whales Holding SHIB Remain Undefeated, but Here’s the Catch
  • Here’s Why Celsius (CEL) Gained 109% Within a Month
  • Security Tokens Vs Utility Tokens: How Do They Differ?

Categories

You may have missed

What is a Bear Trap in Trading and How Does It Work?
11 min read
  • Crypto Trading
  • Guide
  • News

What is a Bear Trap in Trading and How Does It Work?

August 13, 2022
FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?
4 min read
  • Cryptocurrency Brokers News and Reviews

FxCapital360 Review – Is FxCapital360 Scam or a Proper Broker?

August 13, 2022
All You Need To Know About Virtual Asset Service Provider (VASP)
11 min read
  • Cryptocurrency
  • Guide
  • News
  • Regulation

All You Need To Know About Virtual Asset Service Provider (VASP)

August 13, 2022
Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment
3 min read
  • Cryptocurrency
  • News
  • Web3

Animoca Co-Founder Says Web3 Requires More Developers For A True Decentralized Environment

August 12, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%