{"id":21367,"date":"2022-06-29T19:27:13","date_gmt":"2022-06-29T19:27:13","guid":{"rendered":"http:\/\/egrowonline.com\/?p=21367"},"modified":"2022-06-29T19:27:13","modified_gmt":"2022-06-29T19:27:13","slug":"ripple-launches-innovation-challenge-for-cbdc-solutions-on-the-xrp-ledger","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=21367","title":{"rendered":"Ripple Launches Innovation Challenge for CBDC Solutions on the XRP Ledger"},"content":{"rendered":"


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Ripple is launching an innovation challenge aiming to promote the development of XRP Ledger (XRPL) apps for central bank digital currencies (CBDCs).<\/p>\n

According to the contest page, entrants can submit<\/a> projects to three categories: interoperability, retail-facing, and financial inclusion.<\/p>\n

According to the contest rules, interoperability projects should involve solutions that help CBDCs bridge with other digital assets, including non-fungible tokens (NFTs) and stablecoins.<\/p>\n

\u201cDigital assets are increasing in importance as the world increasingly moves closer to Web 3.0. However, interoperability remains a challenge which may impact CBDCs.\u201d<\/em><\/p>\n

Entrants submitting retail-facing projects should aim to develop interfaces for humans to interact with CBDCs in a \u201chip and fashionable way.\u201d<\/p>\n

\u201cAccess to financial institutions for underbanked and unbanked individuals has been a pain point for many in developing nations.<\/em><\/p>\n

Can a CBDC be utilized in an offline environment? How easy will a CBDC be to use for users? How can a CBDC be integrated into different existing financial systems?\u201d<\/em><\/p>\n

Financial inclusion projects should aim to bring banking services to underserved populations and \u201cenable spending power from traditionally marginalized communities.\u201d<\/p>\n

The competition includes $47,000 in prices, and winners receive invites to \u201cRipple\u2019s Winners Only Event,\u201d which has $150,000 in prizes. The deadline for submissions is August 25th.<\/p>\n

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Featured Image: Shutterstock\/FXQuadro\/Tun_Thanakorn<\/em><\/span><\/p>\n<\/p><\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ripple is launching an innovation challenge aiming to promote the development of XRP Ledger (XRPL) apps for central bank digital currencies (CBDCs). According to the contest page, entrants can submit projects to three categories: interoperability, retail-facing, and financial inclusion. According to the contest rules, interoperability projects should involve solutions that help CBDCs bridge with other […]<\/p>\n","protected":false},"author":1,"featured_media":21368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[45],"tags":[1421,1266,4940,288,283,265,1024,58],"class_list":["post-21367","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-cbdc","tag-challenge","tag-innovation","tag-launches","tag-ledger","tag-ripple","tag-solutions","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/06\/ripple-innovation-challenge.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/21367","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21367"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/21367\/revisions"}],"predecessor-version":[{"id":21369,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/21367\/revisions\/21369"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/21368"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21367"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}