Ripple Advisor Reveals Updates on Private XRP Ledger and CBDC Projects
As Ripple nears its final decision, it continues to make headlines. Every other day, there have been updates. Since the beginning of the case, the XRP community has been kept in the loop. A few individuals, such as former federal prosecutor James K. Filan, founder of CryptoLaw John Deaton, and Ripple’s general counsel Stuart Alderoty, have informed the community at each stage of the litigation. Priority has been given to transparency with the community.
Antony Welfare, author and CBDC advisor at Ripple, has something to say about the XRP case. Let’s explore.
Ripple Advisor throws light on Private XRP Ledger and CBDC Projects
Anthony Welfare, the senior adviser for CBDC and international relationships at Ripple, has thrown light on the company’s alleged “state cryptocurrency” efforts. Projects being planned with Bhutan and Palau are currently at an advanced level.
According to the Ripple adviser, private versions of XRP Ledger are being utilized to work on these and other CBDC or stablecoin projects. When asked if XRP could be utilized as a bridge currency for CBDC trades between states’ private networks, the advisor did not respond directly. Nonetheless, he asserted that any subsidiary XRPL chain may be connected to the primary one, making all CBDCs “cross-border.”
How does XRPL work?
XRP Ledger is a decentralized platform enabling peer-to-peer asset transfer. A consensus mechanism certifies network connections, allowing the network to be extremely fast and secure. It implies that you can utilize the Ledger and build on it fast and easily without having to rely on various third-party solutions for coding, hashing, and compiling. You may create dApps and DeFi solutions, launch newer tokens and encourage newer, quicker transactional methods.
Private XRP and XRPL
Some members of the community have charged Ripple management with developing and utilizing private XRPL chains as well as the existence of a unique private form of XRP. Doubters assert that the cost of this private XRP is more than the market pricing for the coin. Former Ripple director of developer relations Matt Hamilton further refuted this theory.
The creator claims that there is only one XRP and that it is exclusively on the main chain, despite the existence of private XRPL chains for CBDC and stablecoin initiatives. Hamilton came to the conclusion that private XRP might either exist in a totally isolated system or that its price would be regulated by market forces.
To conclude,
They have had a lot of questions. Some speculate that it will take a long time for XRP prices to rise and wonder if it is sensible to dump it. Some have speculated on what all of this implies and what it means for the investor.
Swiss Bank Cité Gestion Makes History by Tokenizing Its Own Shares, Setting a New Standard for Private Banking
The payment industry has evolved a lot since the advent of cryptography and web3 technologies. Several banks have been putting efforts into bringing a new revolutionizing payment infrastructure by integrating the web3 model in an attempt to provide enhanced protection against account confidentiality, counterfeiting, and other types of fraud.
Recently, Swiss bank Cité Gestion set a new benchmark in the private banking sector by tokenizing its own shares using Taurus technology and diving deeper into the blockchain-based payment world.
Swiss Bank Ventures Into Tokenization
Tokenization is the process of transferring traditional assets, such as shares, into digital tokens that can be traded and stored on a blockchain network. Cité Gestion, which has been an independent Swiss private bank since 2009, has now successfully implemented Taurus technology to tokenize its own shares to provide ample features and enhanced encryption to its shareholders.
According to the latest statement, this move from Cité Gestion will be the first in the private banking sector to issue shares in a tokenized form, in compliance with the ledger-based securities under Swiss law. The statement stated that Cité would go into an agreement with a prominent crypto firm Taurus to deploy smart contracts in issuing and listing its tokenized shares.
Private Banks Embrace Crypto
Tokenization is a new trend in the payment infrastructure as it gains more trust from financial institutions by allowing TradFi players to onboard more investors to the web3 era. Taurus said in a statement,
“Taurus believes that digitization of private assets and securities is becoming the new standard in the digital asset industry.”
The private bank explained that the process of tokenization was carried out by abiding by the standards of the Capital Markets and Technology Association (CMTA). Christophe Utelli, Deputy CEO of Cité Gestion, commented,
“Taurus and the application of the CMTA standards ensure that an adequate risk management framework is at the heart of the process. It was important for our bank to be among the first to take advantage of the new possibilities offered by Swiss law for the digitalization of securities by tokenizing our own shares.”
By tokenizing its shares, Cité Gestion aims to make it easier for investors to buy and sell shares, as well as it will open multiple doors to keep track of their ownership. Furthermore, this step from the private bank could also increase liquidity and transparency for shareholders in deciding on the investment option.
Last year, Taurus gained a securities license from the Swiss Financial Market Supervisory Authority, and now the crypto firm seeks to provide investors and banks the ability to enter into the blockchain space by offering tokenized securities. Tokenization of shares is not only a step forward to implementing the crypto for a good cause for Cité Gestion but also for the whole banking industry.
It is expected that other private banks will soon follow in the footsteps of Cité Gestion and start tokenizing their own shares as well to give the banking industry a web3 shape, and this could lead to a more efficient and transparent way of trading shares, which would benefit both investors and companies.
BudBlockz Sets Sights on Ethereum and Binance Coin After Successful Private Sale
BudBlockz’s private sale of its native coin was a great success confirming the strong demand for the pioneer crypto cannabis project. The sale of more than 30% of the tokens allocated to private investors in under five days affirmed the market readiness for a project ready to revolutionize the crypto space.
BudBlockz Successful Private Sales
The strong demand at the private sale demonstrates the viability of BudBlockz, given its use case and value proposition in the cannabis and cryptocurrency sector. Investors acknowledging its use case is expected to be a key driver that should allow the project to reach the heights reached by previous projects such as Ethereum and Binance Coin.
The fast start with investors buying more than a third of the allocated tokens echoes similar success echoed by the likes of Decentraland and STEPN tokens that ended up being successes post-launch
The private sale of the BLUNT token was available at a 30% discount, with the token going for $0.015. The strong demand came despite the growing fear in the sector. Established tokens imploding in recent months owing to the broader market collapse seem not to have affected investors sentiments on the cannabis crypto project.
The tremendous success had everything to do with BudBlockz making the private sale less exclusive and thus open to the masses. Furthermore, the sale was open to anyone with an ERC20 compatible wallet, signaling BudBlockz is for everyone and not an exclusive clique of investors, as has always been the case with other projects.
BudBlockz Prospects
Following the private sale, BudBlockz has already set itself up for tremendous success in taking advantage of the recreational cannabis industry’s growing maturity. Instead of turning to ATMs to enable the sale of the network’s native currency BLUNT, BudBlockz is already working on its own point-of-sale presence. The network is to complement other payment options without imposing too many costs on customers and retailers.
The capital raised through the private sale leaves BudBlockz in a solid financial position while establishing strong relationships with investors expected to contribute to its development. Additionally, the pre-sale should create a strong and resilient user community as BudBlockz seeks to transform the $200 billion cannabis sector through cryptocurrency.
Contrary to perception, BLUNT going on sale at a discount is not a giveaway. Instead, it is an invitation to be part of a project in its early stages of growth. The BLUNT token is on course to take advantage of the booming recreational cannabis market and consequently generate significant value for shareholders down the line.
Funds from the presale should go a long way in supporting marketplace development for asset-backed NFTs that BudBlockz is working on. The marketplace should allow BudBlockz to support other cannabis-related companies and products while enhancing BLUNT token use.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
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RPCh is the First Decentralized and Private RPC Software
Swiss privacy project HOPR is closing a privacy hole at the heart of crypto and web3 with RPCh, a service that obscures the data and metadata generated by the trillions of RPC calls which power wallets, crypto transactions, and DeFi services.
RPC provision is a multi-billion dollar business. The two largest RPC providers, Infura and Alchemy, each raised over $600m in funding and are valued at around $10 billion each. Billions of RPC calls are handled each day, providing a flow of information between users, wallets and various blockchains. But their code is closed source, and users must trust that their data is handled securely and privately, a notion at odds with the core ethos of web3.
RPCh can be integrated into existing crypto software and infrastructure to ensure that users can perform crypto transactions without exposing their IP addresses and other private information. On the RPC provider side, RPCh can be run on top of existing RPC nodes like those from Infura or Pokt, although HOPR has also provided some RPC infrastructure of its own.
The RPCh launch was announced at a packed event in Bogotá, Colombia in advance of Devcon, which also included a panel with representatives from leading wallets including MetaMask, Blockwallet, Numio, and Safe. The focus on wallets is designed to bring privacy to the largest number of users as quickly as possible: wallets are an essential part of every user’s crypto experience, and the design of RPCh means it can be integrated directly into each wallet to give users direct control of their financial privacy.
A technical demonstration showed RPCh in action: a Uniswap trade was performed live over RPCh using an instance of Blockwallet which allowed HOPR privacy to be turned on with a single button click. The trade was seamless, with no appreciable delay. This is important for users, who often want privacy but only if the user experience is simple and fast.
RPCh will be the first commercial product built on top of the HOPR protocol, a decentralized mixnet which provides full data and metadata privacy to any kind of data transfer. Anyone can run a HOPR node and be paid in HOPR tokens for relaying data.
Now with the launch of RPCh, the HOPR network will gain a significant and consistent revenue stream: essential for supporting node runners and scaling up the network.
RPCh is still at an early stage, but with a working proof of concept and many wallets already on board with HOPR’s privacy mission, it surely won’t be long before centralized, non-private RPC calls are a thing of the past.