- Ripple is now a member of the Digital Pound Foundation.
- Its Head of Policy — Susan Friedman, will represent.
- The Foundation hopes to build a team to develop a digital Pound.
Ripple proudly announces its joining hands with the Digital Pound Foundation. The latter is a non-profit working to develop and implement the digital Pound in the UK. Ripple’s Head of Policy — Susan Friedman will represent the firm.
Now, with Ripple as a member, it will support the Foundation’s mission to engage central banks globally on policy and technology-centric issues. After all, these tend to come when setting up Central Bank Digital Currencies (CBDC).
Friedman remarks,
We are excited to support the design and implementation of a digital Pound in partnership with the Digital Pound Foundation. The Foundation will help advance the UK’s goal to build a more inclusive and sustainable financial system.
Likewise, Ripple believes that the UK is at the forefront of elevating responsible innovation in the crypto space. Accordingly, as a sign of growth, deploying a digital Pound will be a logical step forward for the nation.
Meanwhile, the Foundation stands firm on the fact that a digital Pound will support the country’s smooth transition for an innovative digital economy. Therefore, with a steady CBDC in place, along with other forms of digital money, the UK will emerge as a visionary in the global digital sector.
Since many other nations are also looking into their own sovereign-backed crypto, the race is on. The Bank of England is brushing up over every technical and practical challenge involved with implementing, designing, operating, and deploying a digital Pound.
It recognizes how a digital national currency will likely provide cheaper, faster, efficient, and sustainable payment options to its citizens. However, this is no easy task. Precisely why the Digital Pound Foundation is working to build the best team possible to bring this goal to fruition.
In fact, it is striving to gather a diverse array of members to secure the UK’s competitive lead on a global scale. With more CBDCs on the way, privacy and interoperability will give these nations complete self-sovereignty.
On the other hand, Ripple is no stranger to making waves in the industry. The firm is known to have made multiple partnerships with banks all over the world. Presently, Ripple is known for its carbon-neutral solution. Above all, the world waits eagerly to see a digital Pound spark to life.