Ripple announced collaborating with Colombia’s central bank – Banco de la República – to explore blockchain technology use cases.
The objective is to evaluate the potential efficiencies of a solution using the Ripple CBDC Platform to improve use cases on the high-value payment system. The pilot is being run with Spain-based blockchain technology firm Peersyst Technology.
Ripple, Peersyst Partner with Colombia’s Banco de la República
According to the official press release, Banco de la República will work with Columbia’s information and communications ministry, MinTIC, to pilot use cases that will improve the country’s payment system with the help of the Ripple CBDC Platform, built on XRP Ledger (XRPL).
MinTIC is tasked with leading the pilot, the development of which represents the third phase of blockchain experimentation. The goal is to educate national and territorial public entities via interactive and collaborative real-world application experiments demonstrating bl
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