Bank of France Tests Ripple Ledger: Ulster University confirms Ripple's private ledger is being tested for a Euro-based CBDC.

By WrathofKahneman. Updated Apr 18, 2024 at 1:13 a.m. PDT.

A recent academic study from Ulster University has revealed that the Bank of France is officially testing Ripple’s private ledger as a foundation for a Euro-based Central Bank Digital Currency (CBDC).

The update was shared on X by crypto analyst WrathofKahneman, highlighting a research paper titled "Central Bank Digital Currency in the European Union: A Comparative Analysis of France, Germany, and Italy."

According to Kahneman, the findings confirm that Ripple’s ledger is being tested by the French central bank, rendering it a serious contender in the race for CBDC infrastructure. This comes amid increasing interest from governments and central banks in blockchain-based solutions for sovereign digital currencies. France’s involvement is particularly noteworthy given its status as a core European Union member.

“[The study] confirms that the Bank of France is testing private ledgers, specifically mentioning Ripple, for a future Euro CBDC. This aligns with France’s known interest in CBDCs and its role in EU-level discussions on digital euro options. A successful trial could position private ledgers, and perhaps Ripple in particular, as key infrastructure for Europe’s future digital currency rollout,” the analyst stated.

This report from Ulster University provides a unique glimpse into the internal workings of France’s central bank as it navigates the complexities of introducing a large-scale digital euro.

The research paper titled "Central Bank Digital Currency in the European Union: A Comparative Analysis of France, Germany, and Italy" unveiled France's experiment with private ledgers, notably mentioning Ripple, in the nascent stages of a euro CBDC.

France's known interest in CBDCs, which aligns with its role in EU-level discussions on digital euro options, makes this development particularly noteworthy.

If France's trial proves successful, it could factor into broader EU conversations on utilizing private ledger technology, potentially from Ripple, for a large-scale digital euro rollout.

This trial could also serve to reshape the public perception of Ripple, transitioning it from a fintech disruptor to a core layer of next-gen central banking.