u.today
The $XRP community has continued to buzz with discussions after the Bank for International Settlements (BIS) decided to put the $XRP Ledger to the test.
The move has also sparked reactions from Ripple CEO Brad Garlinghouse, who expressed that the BIS testing with the $XRP Ledger is not much of a surprise, considering the $XRP Ledger's outstanding capabilities.
BIS Verifies XRPL's Authenticity
In his post, Garlinghouse questioned the community whether BIS testing with the $XRP Ledger is any surprise, suggesting that such a move was expected considering that XRPL passes a standard checklist for an efficient network system.
As such, he believes that an institution like the BIS, which focuses on using blockchain technology to verify official statistical data without placing the underlying datasets directly on-chain, is expected to consider exploring the $XRP Ledger.
To further support his claims, Garlinghouse spotlighted three of XRPL's features he believes make the network suitable for institutional use. He highlighted the $XRP Ledger's low fees, fast settlement, and a proven track record.
The CEO's statement has also sparked discussion, as many industry experts resonated with his statement, further declaring that the BIS testing with the $XRP Ledger was not a surprise.
$XRP Ledger Capabilities Explored
While the BIS test marks a major milestone for the $XRP Ledger, Ripple's CEO considers the BIS experiment as further validation of XRPL's underlying capabilities.
Nonetheless, the test further puts the $XRP Ledger in the spotlight as institutions are increasingly looking for blockchains with faster settlement, data integrity, and other financial infrastructure applications.