Central Banks Seen Using Blockchain Settlements This Decade
- Adoption between one to five years away, Ripple CEO says
- Signals Ripple could make acquisitions using its XRP coin
This article is for subscribers only.
It’s only a matter of time before central banks adopt blockchain to settle high-value, interbank fund transfers, according to the head of Ripple, whose technology has won support from former Fed Chairman Ben S. Bernanke.
As the technology, which is based on encrypted distributed ledgers, catches on, central banks around the world will be afraid to miss out, Ripple Chief Executive Officer Brad Garlinghouse said Thursday in an interview with Bloomberg.