Mason Versluis1.5 Million+ Creator, Founder, Investor

Ripple Partners With Bank Of International Settlements

Name: Ripple Partners With Bank Of International Settlements
Uploaded: 2023-05-13T21:48:28+00:00
Duration: 58 s
Channel: Mason Versluis
Description: In this YouTube commentary, the speaker announces that Ripple is collaborating directly with the Bank of International Settlements (BIS) on a new…

13 May 2023 · 1 min

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In this YouTube commentary, the speaker announces that Ripple is collaborating directly with the Bank of International Settlements (BIS) on a new initiative called Polaris, which aims to enable central bank digital currencies (CBDCs) to function offline. The goal is to ensure that CBDCs can be used during internet outages, cyber‑attacks, or blackouts, providing parity with physical cash. The speaker cites a handbook on offline payments for CBDCs that lists contributions from Ripple employees Anthony Ralphs and Anthony Welfare as evidence of Ripple’s involvement. The commentary concludes with a strongly bullish stance on the partnership, emphasizing its significance for the future of digital currency.

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It has now been confirmed that Ripple is working directly with the Bank of International Settlements on a new project called Polaris. Now this project is about making CBDCs work offline. So if the internet goes down or you can't access the internet, you want the CBDC, the central bank digital currency, digital currency, to still work whether there's no internet. So they're preparing for for the cyber attacks, the blackouts, and making sure that a CBDC is equal to cash, uh, in terms of, you know, you can still use it when there's no internet. And we know that Ripple's working on this because the handbook for offline payments with CBDCs has contributions from people who work at Ripple. And that can be seen here— Anthony Ralphs, uh, from Ripple, and Anthony Welfare are contributing or have contributed to this document. Bullish, bullish, bullish. It's obvious, bro.