Ripple CEO: “Central Banks’ Digital Currencies Are Not A Threat To Us”
XRP Has Always Been A Facilitator
Garlinghouse noted that CBDCs are one thing, the interoperability of different CBDCs is something else entirely, and if a project is not considering working with other projects, digital assets like XRP will always be needed.
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 trying to issue central bank digital currencies for their citizens. We can say that China is leading this idea for now, as it will issue its own digital currency later this year.
Similarly, Sarah John of the Bank of England stated that central banks around the world should issue their own digital currencies, and it is a need to keep this issue on the agenda more.
Bank of England manager Andrew Balley stated that CBDCs are very useful and should be used as soon as possible.
Referring to these statements and projects from various parts of the world, Brad Garlinghouse said that thanks to RippleNet’s On-Demand Liquidity service using the XRP digital asset, there will be a bridge between these currencies that will provide real-time transactions in more than one global and that XRP is preferable to this issue. claimed to be.
Many Americans Dislike the Idea of CBDC
Owning a CBDC can bring benefits to users in many ways, but Americans don’t seem to like the idea of the “digital dollar” very much.
According to a survey by Genesis mining, only 25% of 400 respondents said they think the digital dollar idea makes sense. The remaining participants stated that any digital currency would be a tool for criminal activities and that these digital currencies could never replace paper money.
When we look at the survey results, we should not lose his pessimism. Because the rate of adoption of crypto coins among societies is increasing day by day. In addition, the theory that XRP is a bridge between different CBDCs stated by Garlinghouse has a fair share of many aspects. For the transition between different projects, a bridge will be needed, and why not XRP?