Ripple Partners With The Central Bank Of Colombia
To show how useful blockchain technology is to the general people, the US-based blockchain company Ripple has teamed up with the central bank of Colombia.
With regard to a blockchain pilot programme on the XRP ledger, Peersyst and Ripple will collaborate with Banco de la Repblica. The programme, which will run through 2023, will show the general public how useful blockchain technology is. The ultimate objective is to use the CBDC platform from Ripple to test use cases that will enhance Colombia’s high-value payment system.
Additionally, similar pilot schemes in places including Montenegro, Palau, Bhutan, and Hong Kong used the XRP ledger CBDC platform.
Colombia previously partnered with Ripple Labs in August 2022 to put land titles on the blockchain to rectify unfair land distribution that has led to armed conflicts.
(With inputs from Shikha Singh)
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