Ripple's new white paper advocates for the benefits of Central Bank Digital Currencies (CBDCs), emphasising their role in enhancing financial inclusion and streamlining cross-border payments.
The 23-page document discusses CBDCs, their applications, and the key challenges hindering their global adoption.
Ripple identifies CBDCs as crucial for asset tokenisation, suggesting they can facilitate the transformation of tangible assets into digital tokens on the blockchain.
Major barriers to CBDC rollout include regulatory uncertainty, limited public awareness, privacy concerns, digital identity verification issues, and interoperability between different CBDC systems.