Ripple to Help Colombia Central Bank Explore CBDC Use Cases
Notably, the partnership involves the Ministry of Information and Communications Technologies (MinTIC) and a specialized blockchain technology firm known as Peersyst Technology. advertisement According to a Twitter post by Peersyst , the objective of the alliance is to evaluate the potential efficiencies of a solution using the newly launched Ripple CBDC Platform based on the core technology of the XRPLedger (XRPL) to improve use cases on the high-value payment system. Hence, this pilot phase would be developed as part of the third phase of blockchain experimentation led by MinTIC. In its entirety, this third phase is focused on sensitising both national and territorial public entities on how payment systems and data management can be revolutionized using blockchain technology’s speed, scalability, and transparency. The sensitization process will be carried out through interactive and collaborative real-world application experiments. A...