CBDC Recommendations: XRP’s Impact on Federal Reserve System Discussion

The Federal Reserve System of the United States has received several recommendations regarding XRP, the third-largest cryptocurrency, in a public survey related to central bank digital currencies (CBDC). The survey, comprising 22 questions, aims to gather information on risks, advantages, privacy concerns, and various aspects of CBDC implementation.

One respondent emphasized the importance of maintaining open channels with the crypto industry, stating that providing consumers with the right to choose would foster innovation in the digital economy. Ryan Hanna highlighted Ripple and XRP Ledger (XRPL) as examples of a blockchain that provides efficient offline capabilities in the event of mass power outages.

Another respondent expressed confidence in XRP’s ability to facilitate uninterrupted transactions across various platforms, especially in the context of cross-border payments for significant amounts. Mentions of XRP appeared 111 times in the extensive document reflecting Americans’ opinions on the potential introduction of CBDC in the U.S.

It remains unknown how repeated mentions of XRP will influence the decisions of the Federal Reserve System, but these recommendations underscore the significance of XRP and Ripple in discussions about the future of digital currencies.