As part of the third phase of blockchain experimentation led by the Ministry of Information Technologies and Communications (TIC), the blockchain and crypto solutions company Ripple has established a collaboration with the Bank of the Republic, directed by Leonardo Villar, to explore use cases that utilize blockchain technology. The goal is to improve the high-value payments system supported by Ripple's CBDC platform, based on the XRP Ledger (XRPL), an open-source and energy-efficient blockchain.

"The Bank of the Republic of Colombia and MinTIC, with their innovative vision in blockchain, will drive new ways of operating in the digital age (...) By harnessing the power of the CBDC platform, based on the XRPL, this project will pave the way for transformative advances in the use of blockchain technology in the public sector. This partnership demonstrates our commitment to driving innovation and efficiency, ultimately empowering public entities to harness the full potential of secure and transparent transactions," said James Wallis, Vice President of Central Bank Engagements and CBDC at Ripple.

The CBDCs are going or going... it's not that I agree, or that I like it.