XRP enthusiast Edo Farina recently drew his X followersโ attention to a document Ripple submitted to the UK Government. The document highlights Rippleโs optimism about the future of NFTs, and boasts of its partnership with a project for carbon credit tokenisation in Africa.
๐๐๐๐๐๐ ๐๐๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐๐๐
In a document submitted to the UK GOVERNMENT ๐ฌ๐ง, @Ripple writes:
”๐๐ ๐ฌ๐ค๐ง๐ ๐ฌ๐๐ฉ๐ ๐ ๐จ๐ช๐จ๐ฉ๐๐๐ฃ๐๐๐ก๐ฎ ๐ง๐ช๐ฃ ๐จ๐๐๐ช๐ง๐๐ฉ๐๐๐จ ๐๐ญ๐๐๐๐ฃ๐๐ ๐ค๐ฅ๐๐ง๐๐ฉ๐๐โฆ pic.twitter.com/lZj9G47upv
โ EDO FARINA ๐ ง XRP (@edward_farina) November 23, 2023
โWe work with a sustainably run securities exchange operated in partnership with the United Nations, which develops a carbon credit solution to issue NFTs tokenised carbon credits,โ Ripple wrote in the document, in an apparent reference to Xange.com.
On the topic of NFTs, Ripple believes the technology is in its early stages. โIn reality, we have not even scratched the surface of what NFTs will do to make our economic and social transactions digital and more efficientโ, the company wrote in its document.
Looking forward, Ripple predicted that its XRP Ledger (XRPL) will play a major role in the much-discussed tokenisation of real world assets, or RWAs. โFrom Real Estate to NFTS, everything is set to run on the XRPL.โ Meanwhile, the document underscores the increased interest from governments and organizations in Ripple since the July decision on XRPโs securities status.
With many countries weighing the possibility of launching CBDCs, Rippleโs XRPL has been highlighted as a top choice. Likewise, demand for XRP amongst banks and other financial institutions has also grown.
On Monday, the XRPL integrated the EVM Side Chain, which is expected to boost interest in the blockchain. As noted in the report, the EVM Side Chain will make it easier for new developers to launch new projects on XRPL.
It bears mentioning that while the XRP and XRPL are closely associated with Ripple, the company has reiterated that they operate independently of Rippleโs control. Meanwhile, XRPโs price edged higher in Fridayโs morning trading session, alongside a marginal boost in trading volume.
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