According to Australia’s professional accounting organization, CPA Australia, the Central Bank of France views Ripple and XRP as a potential platform for issuing the digital euro.
In its latest research called "Central Bank Digital Currencies (CBDCs): A Comparative Review", CPA Australia confirms that the French regulator has been discussing Ripple as a possible platform for the digital euro. The European authorities are actively engaged in the creation of the digital national currency. The coronavirus crisis has only sped up the process. In fact, there has been a lot of speculation in the media lately that Ethereum and Ripple are in focus in the EU. Meanwhile, Bitcoin is too volatile to be used as a means of payment.
"XRP is the principal currency used on the Ripple platform, with the capability to facilitate payments like any currency or card. Ripple has its own patented technology — the Ripple Protocol consensus algorithm (RPCA) — to verify transactions," the report says.
Ripple’s XRP has earned the trust of many banks as a model for CBDCs. Its developers will gladly provide central banks with technical solutions for their digital currencies — a private open source XRP Ledger. Ripple CEO Brad Garlinghouse pinpoints that the UK, Japan, Switzerland, and Singapore have shown their interest in the project. The United States is the only country that has classified XRP as a security, Garlinghouse noted.
