Ripple, the digital payment network behind XRP, has launched a new platform that allows central banks, governments, and financial institutions to issue their own central bank digital currencies (CBDC). The platform, called Ripple CBDC Platform, leverages blockchain technology to manage and customize the life cycle of fiat-based CBDCs and stablecoins. Despite concerns about CBDCs posing risks to financial privacy and economic freedom, Ripple believes its platform will enable instant settlement of domestic and cross-border payments, reduce risk, and improve the user experience. Ripple CEO Brad Garlinghouse also revealed plans to focus hiring efforts outside the US to expand the company's international footprint.
What do you think about this new Ripple initiative? Is it against financial freedom then?
Well this is another proof that Ripple is a crypto project that is totally centralized and that is trying to aid and help the big bank institutes and the government. I think that is also the main reason why a lot of people withing the crypto scene are disliking Ripple very much. Bitcoin was created to give people the power over their wealth back and so that people can pay someone directly without having any bank or other middlemen involved. That is the reason why crypto is so big now i think.
Ripple on the other hand is centralized and wants to do everything to be liked by the authorities and the big banks.