Ripple Discusses Blockchain With The Chinese Central Bank

Ripple Discusses Blockchain With The Chinese Central Bank

The financial technology company Ripple hosted a delegation of Chinese academics, central bank officials and relevant industry experts at its headquar

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The financial technology company Ripple hosted a delegation of Chinese academics, central bank officials and relevant industry experts at its headquarter in Sillicon Valley.

Cryptocoinnews.com reported that the San Francisco-based start-up welcomed the delegation of Chinese officials last week.

Ripple provides global financial settlement solutions led by Brad Garlinghouse, a CEO and a member of the Board of Directors.

The Chinese delegation was headed by Huang Yiping, director of the Digital Finance Research Center at Peking University. Some of the members of the delegation came from government agencies. The Chinese officials also visited peer-to-peer lending platform Prosper, financial start-up SoFi and the bitcoin start-up Circle, as cryptocoinnews.com wrote.

In July, the online media pointed out that he People`s Bank of China, the country`s central bank, financial regulator and watchdog, opened a new research lab to study digital currencies.

Deatils of the meeting are not fully disclosed, but Ripple welcomed the Chinese delegates to discuss the latest trends in the area of blockchain technology.

Ripple`s blockchain has already been used for trialing the technology`s implementations in banks across the world. Spanish bank BBVA has executed a money transfer between Spain and Mexico using Ripple`s blockchain technology, as cryptocoinnews.com reported in April.

Cryptocoinnews.com added that the most successful implementation of Ripple`s technology was announved in March this year after a consortium of 47 Japanese banks completed a money transfer pilot using the company`s blockchain over a cloud infrastructure.

As of 29 August, 2017, the Ripple cryptocurrency has a market cap of $8,471,496,706, while taking the fourth place hot on the heels of Bitcoin Cash.

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