Ever wondered how digital currencies connect to central banks and offline payments? This video dives into the world of blockchain and explores how four key players are making waves:
XLM Stellar (XLM): This decentralized network is designed for fast and cheap transactions. It’s not directly connected to a specific RBA (Retail Central Bank Digital Currency), but its speed and low fees make it a potential candidate for facilitating CBDC transactions.
XRP Ripple (XRP): Ripple focuses on building bridges between traditional finance and blockchain. While XRP isn’t necessarily used for CBDCs itself, Ripple’s network could be used by RBA’s to connect with commercial banks and payment providers for smoother CBDC integration.
Hedera Hashgraph (HBAR): This network is known for its high speed and security. While not directly tied to a specific CBDC, Australia is exploring HBAR’s potential for enabling offline payments within a CBDC ecosystem.
Velo Protocol (VLO): This protocol bridges the gap between digital currencies and traditional payment networks. Imagine using Velo to seamlessly pay with your CBDC at a store that doesn’t have a direct CBDC integration – Velo could connect them through networks like Stellar and Ripple, even enabling offline transactions.
Novatti: This Australian FinTech company is a key player to watch. While not directly connected to XRP, Novatti is involved in Australia’s CBDC pilot and could potentially leverage Ripple’s network for smoother CBDC integration, with Velo acting as a bridge for offline payments.
This video is just the tip of the iceberg! Stay tuned for further dives into each of these technologies and how they’re shaping the future of digital money.
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