Bank of France, Likely to Prefer XRP over Bitcoin and Ethereum

Banque de France, the central bank of France, has reportedly discussed XRP and Ripple for the launch of a central bank digital currency (CBDC). The central bank is planning to prefer XRP over Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum.

According to a report published by CPA Australia, Ripple and XRP gained the attention of many central banks around the world due to its efficient network. In addition, the report highlighted the efforts made by the Reserve Bank of Australia, ECB, PBOC and the Federal Reserve in the issuance of a central bank digital currency.

Ripple recently announced that the company is currently testing a private version of the XRP Ledger to facilitate global central banks in the issuance and management of CBDCs. Further, the company mentioned that the arrival of the world’s first CBDC is inevitable.

“Ripple and XRP enjoy the trust of many banks as a model for CBDCs. Ripple also allows the creation of new currencies, and Ripple developers can decide the timing and quantity of supply in a similar way to current central bank operations,” the report from CPA Australia states.

"France’s central bank, Banque de France, has openly discussed Ripple/XRP as a possible platform for Europe’s central digital currency," the report added.

Growth of XRP

Despite the SEC’s lawsuit against Ripple in December 2020, the company reported significant growth in the last few weeks. During an interview with Reuters, Ripple CEO Brad Garlinghouse said that the activity of XRP Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term has grown significantly outside the United States. He added that Ripple is growing in Asia. XRP price took a major hit after the SEC’s lawsuit, but the cryptocurrency has gained more than 100% since the start of 2021. Despite the uncertainty regarding the status of XRP in the United States, the trading volumes of the world’s 7th largest digital currency are growing around the world. The digital currency currently has a market cap of more than $21 billion.