The Ripple project is multi-faceted. On one hand, it is a full-fledged project providing a base for financial institutions to connect and even send value trustlessly.
Ripple’s Remittance Effort Lauded
On the other, it is a for-profit company geared to turn returns for their token holders. While Ripple is distinct from XRPL and Ripple Labs–the issuer of the XRP coin, there are notable connectors that have been a source of debate for a while now.
Still, the CEO of MoneyGram–Alex Holmes, in an interview with CNN’s Julia Chatterley, lauded Ripple’s efforts in remittance. He said, for their intervention, the money transfer firm is growing, reversing their fortunes.
The XRPL ledger is open source. It is continuously improving because of the community of developers and Ripple Labs.
Focus on CBDC and the XRPL
As a layer for the next-generation Internet of Value, its robustness, decentralization, and security in anticipation for more clients in days ahead matters. Ripple executives have reiterated their objective of being the base infrastructure for connecting banks but also providing solutions for stable coin and CBDC issuers.
This may include central banks trying to try out CBDCs and better manage their monetary policies.
Towards this end, Ripple, in an advert said it was looking to hire a Senior Director for Central Bank Engagements in their efforts to carve out market share in the potent CBDC space.
One of the Director’s roles is to “define and lead Ripple’s strategy with central banks, build relationships with and educate central bankers around the world” while also “securing and managing partnerships with central banks to build and deploy projects.”