Ripple Labs, an American payments company via blockchainreceived a prestigious award from Currency Research at the Digital Currency Conference 2023 for outstanding contributions to the development of the Central Bank Digital Currency (CBDC). About it informed on his official Twitter page, Anthony Welfar, CBDC Advisor Ripple Labs.
According to Welfar’s statement, the award is the first of its kind and was given to a company for promoting digital currency, the best sustainability initiative. This is recognition of the firm’s efforts to help central banks around the world strengthen their sustainable transition from fiat currency to a dual model backed by both fiat currency and a CBDC or digital version of national currencies.
Receiving the award is not surprising, since the company is making a lot of efforts in this direction and has achieved some success. Anthony Welfare said the award will be an incentive for the company to continue to advance its CBDC team to develop long-term sustainable solutions for all of its customers and partners.
Ripple has bigger goals than CBDC
Ripple Labs remains one of the most versatile blockchain startups today. While it primarily caters for cross-border payments using the RippleNet service and on-demand liquidity (ODL), the firm-sponsored development team is currently exploring various solutions using the XRPL protocol.
Already with many useful features such as tokenization, a built-in decentralized exchange, the issuance of tokens, including NFTs, XRPL aims to become a decentralized smart contract platform designed to host applications that can help find real solutions to the problems faced by Web3.0 and the wider world of financial technology.