Recently, US Congressman Warren Davidson, who has been expressing growing concerns about the concept of a central bank digital currency (CBDC), remarked that certain individuals holding Ripple tokens (XRP) appear to be strongly protective of Ripple’s recent activities related to CBDCs.
Through a tweet on August 15th, Davidson expressed his surprise at the reactions emerging from the XRP Twitter community in response to Ripple’s involvement in the CBDC space.
Ripple introduced a new approach to central bank digital currencies (CBDCs) on May 18th. This strategy involves utilizing the capabilities of the XRP ledger to empower central banks, government entities, and financial institutions in creating their own unique digital currencies.
Through the utilization of Ripple’s platform, governmental entities gain the capability to exercise thorough control over every phase of the CBDC’s lifecycle.
Davidson has expressed his intention to create a new law aimed at making the creation and advancement of Central Bank Digital Currencies (CBDCs) illegal. He emphasized that he won’t permit anyone, be it Satoshi, Consensys, or the Federal Reserve, to engage in the development of CBDCs.
Davidson organized a survey to collect input from XRP holders about their position on Ripple’s efforts towards a Central Bank Digital Currency (CBDC). The survey aimed to assess whether participants were in agreement, disagreement, or held a neutral stance on this initiative.
The results showed that over 50% of the people, didn’t seem very interested in Ripple’s work on a digital currency for central banks. About 28% of those asked liked XRP, but they weren’t as excited about the idea of digital currencies for central banks. A smaller group, almost 19%, said they were in favor of Ripple’s efforts to make these digital currencies for central banks.
Also Read: BIT Among First Exchanges To Offer XRP Options Trading
