Blockchain payment company Ripple (XRP) has published a detailed white paper on Central Bank Digital Currency (CBDC).
Ripple stated that CBDCs can shape the future of the global financial system.120 pages shared a white paper. What CBDCs can bring to the global financial system, the report states potential benefits place was given.
In this respect With more than 20 central banks The company states that it is working on CBDCs from existing payment systems. more efficient and cheaper while highlighting that it could be transaction fees And approval times He wrote that it could be shorter.
However, if central banks switch to CBDC, the current financial system safer and more transparent It has been stated that it may become According to Ripple, this situation fraud and money laundering can reduce it.
Additionally, the use of CBDC is particularly important compared to cash. in developing countries It was stated that it could pave the way for wider access.
On the other hand, implementing CBDCs a series of difficulties The report states that CBDCs also bring of the design, of distribution And adoption of It was stated that it may take time.
Ripple for development and adoption of CBDCs private sector and public sector He reminded that cooperation between them is important.