Crypto
BIS Proves XRP Ledger's Potential in Official Statistics Verification
The Bank for International Settlements (BIS) has been testing the XRP Ledger as a public verification layer for economic statistics.
In an effort to ensure the integrity of official statistics, the BIS created a permanent record that can show whether a published dataset has been altered.
The prototype uses blockchain technology to store the cryptographic information needed for verification, keeping it separate from the data itself.
The proof-of-concept was built on XRPL's DevNet and achieved a median publication latency of roughly three to five seconds, with verification taking about one to two seconds.