In a recent tweet, Ripple CEO Brad Garlinghouse continues to reinforce the view that digital assets like XRP are not threatened by central bank digital currencies (CBDC), but rather are convinced that XRP would be that bridge between different. CBDC.
XRP, the facilitator
Ripple's Brad Garlinghouse a few hours ago further reinforced the point made in the latest Ripple Insight newsletter that CBDC is one thing and interoperability between different CBDCs is another. And if any project isn't thinking about how these projects will work together, it's basically about "Rebuild the same system in silos."
Over 70% of the central banks around the world are looking at deploying #CBDCs – and one thing that’s crystal clear is the importance of interoperability. If you're not prioritizing this, you're just rebuilding the same siloed system. https://t.co/AZdS5YBU8K
– Brad Garlinghouse (@bgarlinghouse) September 24, 2020
Many countries and their central governments are studying the possibility of issuing central bank digital currencies for their citizens. China appears to be leading the pack as it reported that it could launch its sovereign digital currency later this year.
In the UK earlier this year, Sarah John, the Bank of England's Cheif Cashier, had said that central banks around the world need to start talking about central bank digital currencies. She says this is a "crucial" need.
In another speech, Bank of England Governor Andrew Bailey said that CBDCs are beneficial.
With all these conversations and plans underway in various parts of the world, Brad Garlinghouse is optimistic that RippleNet's on-demand liquidity service, which uses the XRP digital asset, will be a bridge between these currencies, as it provides real-time transactions. in multiple Markets.
Most Americans don't like the idea of a CBDC
Having a CBDC can be a good cause, but Americans don't seem to like the idea of a "digital dollar."
A survey conducted by Genesis mining shows that out of 400 participants, only 25% nod to a digital dollar idea. The rest associate digital currencies of any kind to be a medium for criminal activities and do not believe that it should replace paper bills.