$XRP Ledger Selected by BIS Over Numerous Blockchains

The Bank for International Settlements (BIS) has conducted a study on the $XRP Ledger, choosing it over numerous other blockchains. The research involved developing a proof-of-concept system using XRPL to verify the accuracy of official statistical data.

The BIS created a cryptographic fingerprint from the data, which is then stored on the $XRP Ledger, allowing users to verify whether their data file matches the original publication and whether it has been altered. The prototype reportedly completes the publishing process in 3-5 seconds and verification in 1-2 seconds.

The study highlights XRPL's low transaction fees, fast transaction speed, and development environment as reasons for its selection. This indicates that $XRP Ledger can be used not only as a payment infrastructure but also to verify data integrity.