Ripple is a better platform for central bank digital currencies than Ethereum or Bitcoin, according to a new report from CPA Australia, a large accounting industry association. It said that Ripple and the XRP token that underpins it “enjoy the trust of many banks as a model for CBDCs because it is highly centralized and is based on a permissioned network where only certain network nodes can validate transactions, as opposed to decentralized and permissionless Bitcoin and Ether.”
An Australian university looked at three major cryptos as potential CBDC platforms (Photo: Patty Jansen/Pixabay)