BIS Taps XRP Ledger for Official Data Pilot

The Bank for International Settlements (BIS) has confirmed its use of the XRP Ledger (XRPL) in a pilot project aimed at boosting the integrity of official statistical data.

A working paper from the BIS Monetary and Economic Department details how the group built and tested a proof-of-concept system using XRPL as its blockchain infrastructure. The report outlines a method for anchoring statistical datasets to a public blockchain in a cryptographically secure manner, with XRP mentioned 101 times throughout the document.

The pilot project anchors official statistics in SDMx format through cryptographic hashing, creating a unique fingerprint that is then recorded on the XRP Ledger for tamper-proof verification. The BIS credits XRPL's cost-efficiency and reliable transaction throughput as critical factors behind its selection for the pilot.