Ripple soon may unveil few positive developments in its revolutionary CDBC pilot program, hinted by Ripple CBDC advisor Antony Welfare.

Famous crypto influencer Sentosumosaba takes Twitter to shares Ripples engagement in various CBDC pilot program in Bhutan and Palau. Responding to Sentosumosaba’s post, Ripple senior advisor Welfare, who also handles the CBDC Europe an global partnership, hinted towards “more CBDC announcements in the coming few weeks”.

The company has been actively engaged in the development of the central bank digital currencies, since piloting its project on private version of the XLRP ledger in March 2021, that provide the platforms to the central banks to securely issue CBDCs.

To continue its engagement and mark its presence in CBDC space, Ripple was identified as one of the participants of “Technical Sandbox Program” that was launched by Digital Dollar Project, a US based digital think tank. The Project aimed at exploring the potential technical and business ramification of a CBDC in United States. Ripple, further, has joined hands as supporting partner with Digital Euro Association, European think tank to catalyze the pace of development and growth of the CBDCs and Digital Euro.

Ripple has been working on its CBDC project since very long and since then has been making efforts to secure its position and spread its network within space therefore, last year in September 2021 Ripple lab announced its partnership with Royal Monetary Authority of Bhutan to initiate CBDC in the South-central Asia Kingdom to issue and manage the digital ngultrum that aimed at improving cross border payments.

Immediately after two months, company established a partnership with the Republic of Palau to support Pacific Island to create its own climate friendly digital currency.

To promote CBDC based ecosystem company launched its first online CBDC hackathon “Ripple CBDC Innovate”. The hackathon witnessed the participation of 483 participants to build CBDC based application that either makes its user friendly, improves interoperability of the CBDCs or to bring banking to untapped population. According to CBDC innovative website, the finalist of the first stage will likely to be announced on 8^th September, who will be qualified for second round of the competition.

Sentiment Analysis:

Since news are not enough Peak Blockchain brings you deeper insights of news via Sentiment Analysis.

Market Sentiment refers to the attitude and perception of investors towards a particular phenomenon persisting in market.  Analysis of such sentiments gives clear picture to the stakeholders especially business players or investors how shall they move ahead with their business idea or investment. It helps to make calculated and accurate decision. Sentiments are generally bifurcated into positive, negative and neutral sentiment.

Peak Blockchain brings you the sentiment analysis of the announcement to be made by Ripple on CBDC and helps you to analyses how the announcements can affect the investors of blockchain space, especially who are looking forward to try their hands on CBDC. According to our analysis, the sentiment for the above news tends to be neutral, indicating at present the likelihood of future announcement by Ripple does not have any impact on the investor perception and attitude towards CBDC as of now. But, may be after announcements are made, it can change the game.