Ripple’s CBDC Innovate 2023 Challenge Attracts 700 Registrations

Ripple recently announced that their “CBDC Innovate 2023” challenge received an overwhelming response from participants around the globe. Over 700 participants have registered, even though the competition is only halfway through the ideation stage of Phase I.

Join the CBDC Innovate Competition

If you’re interested in building central bank digital currency (CBDC) applications on the XRP Ledger, there’s still time to become a part of the excitement. Phase I of the challenge, which calls for participants to submit their ideas for a CBDC application, is open for more entrants until August 18, 2023, at 2:00 pm PST, 5:00 pm EST, 10:00 pm UK time, and 5:00 am in Asia (Singapore).

Both individual developers and enterprise-level coders are invited to take part in the two-part challenge, where they can create CBDC applications in any area of interest they choose. Unlike previous years, this year’s categories are not confined to specific use cases, such as retail or wholesale, but instead encourage a wide array of innovative CBDC solutions. During Phase I, entrants will develop their applications using XRP Ledger (XRPL) technologies.

Ripple has assembled a panel of distinguished industry experts to judge the CBDC Innovate competition. These experts will support and evaluate the participants’ efforts to create groundbreaking CBDC applications. The judges include:

• Jonathan Donovan, Vice President of Product Development – Blockchain and Digital Assets, Mastercard
• Daniel Eidan, Adviser and Solution Architect, BIS Innovation Hub (BIS IH)
• Aleksi Grym, Head of Fintech and Principal Adviser, Bank of Finland
• Bryena Jyoti, Director, Blockchain Technology Solutions, Digital Assets Innovation, PwC
• Conrad Kraft, Executive Director, Digital Euro Association
• Jennifer Lassiter, Executive Director, The Digital Dollar Project
• Brett Molin, Technical Partner Director, Central Banks Ripple
• Anastasia “Tracy” Raissis, Founder and CEO, Achillia Group, LLC.
• Rajesh Sadhwani, Managing Director – Banking & Capital Markets, DXC Technology
• Nav Singh, Head of EMEA Marketing and Communications – Banking and Capital Markets, DXC Technology
• Xiaochen Zhang, President, FinTech4Good

Just last week, the Bank for International Settlements published the results of their CBDC survey, which revealed that 18% of surveyed central banks expressed the likelihood of issuing their own retail CBDCs in the near term.

See Also

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Read more about Ripple, XRP, and CBDCs:

• The Components of a Functioning CBDC – XRP As the Global Bridge?
• Ripple Partners with Digital Euro Association
• Bhutan to use Ripple’s Private XRPL for CBDC