BIS Proves XRP Ledger as Public Verification Layer

The Bank for International Settlements (BIS) has found a new use case for the XRP Ledger, a public verification layer for economic statistics. The BIS created a permanent record on the blockchain to prove that published datasets have not been altered.

The BIS notes that official statistics are often distributed through digital platforms and consumed by automated systems, including AI tools. However, there are concerns about providing the stated source of these data.

To address this issue, the BIS used the XRP Ledger to create an independent record of a dataset's fingerprint on the blockchain. This proof of concept was built on XRPL's DevNet and achieved a median publication latency of three to five seconds and verification time of one to two seconds.