Ripple will participate in a new initiative from The Digital Dollar Project, a nonprofit organization, to find CBDC solutions for the United States. The new initiative, called the Technical Sandbox Program, will be launched in October, with cross-border payments the first issue on the agenda.
Ripple Joins New Digital Dollar Initiative to Help Explore Solutions for U.S. CBDC Program
In addition to the issue of cross-border operations, given the specifics of Ripple, the scope of the company’s expertise is clear, the program plans to be a place where its participants can propose approaches to the implementation of “state cryptocurrency” from the technological, business and political points of view.
In addition to Ripple, such companies as Knox Networks, EMTECH, and Digital Asset will also participate in the initiative. According to a press release from The Dollar Digital Project, the participation of a diverse set of companies will ensure a variety of opinions in approaches to finding solutions for the U.S. CBDC.
It is assumed that the process of finding solutions will be divided into two phases. During the first phase, participants will develop methodological approaches in the CBDC area. During the second pilot phase, real use case applications of “state cryptocurrencies” and their impact on business processes will be tested.
Despite the extremely aggravated long court battle between Ripple and the SEC, the lawsuit against the company does not seem to have affected the company’s reputation at all. Ripple’s expertise and technology in crypto business solutions, whether it is cross-border payments or liquidity provision, are still highly valued by its old partners and remain of strong interest to new ones. It is funny that the company will now work on the digital currency of a country where it is being prosecuted.
Shopify’s Developer Advocate Joins Ripple
Jason Tigas, the developer advocate at Canadian e-commerce giant Shopify, has tweeted about joining San Francisco-based blockchain Ripple. Tigas claims that he wants to create “a world without economic borders” with the company.
Some news, after 4 years @Shopify the time was right to dive back into crypto. I’m happy to announce that I have joined @Ripple to help create a world without economic borders
Crypto,Web3,NFTs, DeFi can do a lot for commerce, so for all my @ShopifyDevs followers, stay tuned! pic.twitter.com/6LYpBUNNWG
— Jason Tigas (@jayShopTO) August 30, 2022
He has added that Web3 could potentially “do a lot” for the e-commerce sector with decentralized finance applications and non-fungible tokens. Tigas joined Shopify back in September 2018. After spending a year and a half as the company’s strategic partnership manager, he became Shopify’s developer advocate in January 2020 before switching to a similar position at Ripple this August.
The self-described Ethereum believer co-founded a Toronto-based consulting group called Cryptonaire a few months before joining Shopify. Ripple opened its very first office in Canada in late June. CEO Brad Garlinghouse said that it would serve as the company’s “key engineering hub.” Ripple said that it planned to hire “hundreds” of employees in the country. Before opening its office, the company also partnered with several universities that are based in Canada to support and accelerate blockchain research.
In mid-June, the company said that it would be able to continue hiring new employees despite Coinbase and other big-wigs cutting their workforces during the crypto winter. Ripple, however, claims that it is in a strong financial position despite being involved in a gruesome legal battle with the U.S. Securities and Exchange Commission, which has already cost the company more than $100 million in legal fees.
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