BIS Researchers Test XRP Ledger for Statistical Data Verification

The Bank for International Settlements (BIS) researchers have tested the XRP Ledger as a verification layer for official statistics. The experiment, outlined in a working paper published on September 2, aimed to verify the integrity and origin of datasets.

The researchers used the XRP Ledger Devnet to record cryptographic dataset fingerprints rather than publishing the underlying statistics onchain for public verification. The prototype connected the XRP Ledger with Statistical Data and Metadata eXchange (SDMX), an international standard used by organizations including the BIS.

Instead of placing complete datasets onchain, the system calculated cryptographic fingerprints representing the data. It then recorded those fingerprints on the XRP Ledger's Devnet, allowing a recipient to check whether a downloaded file matched the version originally published.

The experiment showed that verification took one to two seconds by comparing files against XRP Ledger records during testing. The median publication latency was three to five seconds under controlled testing conditions.

The researchers noted that the prototype is an experimental proof of concept and remains unmaintained software. It does not represent a production deployment, partnership with Ripple, or endorsement of XRP as an investment.