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Ripple and Central Bank Digital Currencies: What You Need to Know

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James Wallis, VP of Central Bank Engagements & CBDCs at Ripple, has been announced as the company’s representative at the next Digital Pound Foundation webinar. A webinar titled “What Is A Digital Pound Really Useful For?” will be held on January 26, 2023, at 4 PM (GMT).

The webinar will educate attendees about the importance of a digital pound and its benefits to the existing payments industry.

“In this webinar, we will hear from a range of practitioners who are piloting or implementing real-world use cases for a digital Pound and debate with a panel of experts around where CBDCs and privately-issued stablecoins can really deliver on these goals,” Digital Pound foundation stated in a statement. 

Wallis is reportedly featured as a keynote speaker on the Digital Pound Foundation website. The moderator is listed as William Lorenz, the co-leader of the working group for the Digital Pound Foundation.

Chris Ostrowski, CEO, and co-founder of SODA; David Karney, Head of Digital Assets at Worldline; Jakub Zmuda, Chief Strategy Officer at Modulr; and others will be on the panel.

A well-designed digital Pound is being implemented by the independent non-profit Digital Pound Foundation, which works with many other participants and stakeholders, including Ripple. The firm, established on June 22, 2021, is also trying to establish a successful and diverse ecosystem for new versions of digital currency.

In a press release on October 14, 2021, Ripple stated that it had become a member of the Digital Pound Foundation.

“Ripple is excited to announce it is joining the Digital Pound Foundation, a non-profit focused on the development and implementation of a digital Pound in the United Kingdom,” Ripple noted in a statement.

Susan Freidman, Head of Policy at Ripple, was also announced as the organization’s board representative for the Digital Pound Foundation.

Read article: Ripple CTO Affirms Difference Between XRP in Escrow and Flare Airdrop Rewards

Ripple Fostering CBDCs Adoption

It is relevant note that some central banks, including the Bank of England, South Korea, and others, are increasingly interested in Central Bank Digital Currencies (CBDC). As Ripple has remained a strong supporter of CBDCs for central banks, it’s interesting to note that it has maintained its prominent position.

The Royal Monetary Authority of Bhutan and Ripple collaborated in September 2021 to test use cases for retail, cross-border, and wholesale payments for a digital Ngultrum.
Ripple unveiled a private blockchain designed exclusively for central bank digital currencies in 2021 due to central banks expressing interest in CBDC.

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