The post Ripple and XRP Face Uncertain Future: An Insight into BIS Project Mariana appeared first on Coinpedia Fintech News
Despite early promises, the latest developments around the Bank for International Settlements (BIS) Project Mariana have cast a shadow of uncertainty on XRP’s future. JC Collins, an expert in Geopolitics, Macroeconomics, and Crypto Philosophy, recently weighed in on these developments.
Project Mariana and the ERC-20 Standard
Project Mariana, a BIS initiative, aims to develop a platform for Central Bank Digital Currencies (CBDC) using the ERC-20 technical standard. In an unexpected turn, the Hybrid-Function Market Maker service is now provided by Curve V2, with two EVM-based smart contracts managing payments.
This development highlights a glaring omission: XRP and Ripple find no mention in the BIS documentation, despite long-standing support and optimism among developers and supporters.
Ripple and XRP, though once considered heavy hitters, seem to be left in the dust. Even with partnerships with various banks and a favorable SEC lawsuit outcome, XRP hasn’t seen the expected flood of value. It’s almost like watching the cool kid suddenly being left out of the party.
Now Read – Top Reasons Why XRP is About to Become Way Bigger Than Everyone Thinks
Adaptation and Evolution in the Digital Space
The adaptability of ERC-20 and the rapid evolution of tech across Layer One chains might be overshadowing XRP’s role in the global financial system. The adaptation to ERC-20 has become a powerful trend, possibly setting a standard that Ripple might find challenging to counter.
Despite this, Collins emphasizes that the game isn’t over for Ripple and that the technological landscape will continue to change at a breathtaking pace. The failure or success of Project Mariana will also shape the evolution of the space.
Geopolitics and the Monetary Transformation
The ongoing geopolitical shift away from USD hegemony and the increasing momentum towards the multilateral world present a complex backdrop to these developments. The BIS’s influence extends to all central banks, making its actions relevant to CBDC initiatives around the world. Collins’s insights into the geopolitical landscape provide a sobering reminder of the intricate interplay of global forces in the world of finance.
So, where does this leave Ripple and XRP? In a word, uncertain. Ripple’s future might not align perfectly with the grand vision many had hoped for, but it continues to be part of an exciting and ever-changing conversation.
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks