France's central bank, Banque de France, has reportedly started looking to XRP and Ripple as digital currency foundations for the European Central Bank (CBDC). This French central bank plans to choose XRP over Ethereum(ETH) or Bitcoin(BTC).
From reports published by CPA Australia, XRP and Ripple have attracted the attention of central banks around the world, this is because, XRP and Ripple have a centralized network nature.
you can read the report here: www.cpaaustralia.com.au
As information, for those of you who don't know CPA Australia, this is a large organization engaged in Professional Accounting in Australia. The Australian CPA organization has been around since 1886, with more than 166,000 employees, from 150 countries around the world.
In the CPA Australia report entitled "Central Bank Digital Currency (CBDC): Comparative Overview" there they reveal information that the French Central Bank has started discussing XRP and Ripple as their foundation for launching the Euro Digital currency.
“Ripple and XRP have won the trust of many banks as models for CBDC because of their centralized nature.
XRP also stands on an allowed network where only certain network nodes can validate transactions. Also, as opposed to Bitcoin and Ethereum, they are decentralized networks.
Ripple also has the possibility to create a new currency. Ripple developers can decide the timing and amount of supply in a manner similar to the current operations of the central bank”.
The report also includes a report stating that the French Central Bank has publicly begun to consider XRP and Ripple as a platform that has the potential to create Euro Digital.
The French central bank, Banque de France, has publicly discussed Ripple and XRP as possible platforms to form the basis of Europe's central digital currency.
As a result of this, the price of XRP took a big hit after the SEC lawsuit was filed, but cryptocurrency has gained more than 100% since the start of 2021.
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