Thread by @Cryptoinsightuk

Everything we know about the UK and their relationship with @Ripple and $XRP.

I thought I'd show you what I know on this one following the recent enjoyment of my findings regarding India.

Again, this is fact and speculation.

Grab yourself a hot Coffee ☕️ and enjoy!

🧵Below👇

Let's start with the obvious and most important part of this thread.

Ripple have been testing with the Bank of England since 2017.

In fact, if you go onto the BofE's website and type in Ripple, you get 156 results and 146 documents!

It seems the test focused on how the UKs new RTGS (Real Time Gross Settlement) system could be interlinked with Ripple's technology.

"Ripple’s solution showed promise in enabling RTGS systems which seamlessly support interoperability globally."

ripple.com/insights/resul…

The BoE selected Ripple to participate in their 'Fintech Accelerator'.

The goal of this 'test' was to showcase 'to showcase the synchronized movement of two different currencies across two different RTGS systems'

Focusing on Speed, Efficiency + X-Boarder Payments.

Next, we have @Ripple 's involvement with @digitalpoundfdn.

The goal of the Digital Pound Foundation is to bring the Public and Private sectors together, to develop, design and help the adoption of the digital Pound. 💷💷

digitalpoundfoundation.com

It is important to note that Ripple are one of the founding members of the Digital Pound Foundation.

And maybe more importantly; Ripple's Head of Policy @ss_friedman is the Chair of the Foundation.

Let's fast forward to April 4th 2022.

A live talk from Economic Secretary to the Treasury @JohnGlenUK on the steps the UK is taking to position as a global hub for Cryptoasset Technology.

twitter.com/i/broadcasts/1…

A statement reiterated by the Digital Pound Foundation within the last 24 hours:

Two key take aways from Glen's speech;
- The implementation of a regulatory Sandbox for crypto at the start of 2023.
- "Could the UK one day issue a debt instrument using DLT?" (18:45/21:20)👇
The second is a statement I want to explore. It excites me greatly!

The #XRPL harnesses DLT (Distributed Ledger Technology). So this leads me to speculate (with what we've learned above), is the UK looking to issue Sovereign Debt on the XRPL at some point soon?

UK Debt Currently Sits at £1.95 Trillion. That's something to think about!

My ears pricked up in relation to this topic when I was watching Ripple's new CBDC advert.

"The Central Bank can issue other assets and allow participants like Commercial Banks to do so"

Again, we are WILD speculators, but this is super interesting.

https://twitter.com/Cryptoinsightuk/status/1568997955520299010?s=20

So now we get a bit more speculative, but there have been a lot of interesting events happening in the UK with Ripple.

Chris Larsen - Ripple Co-Founder visited London and spoke to Sadiq Khan (Mayor of London) to help create "Silicon-London"

https://twitter.com/DangerMouseXRP/status/1524516394481729537?s=20&t=6VDhbc3uSNHWorRAm0KxRw

Next, we have a strange one. I'm unsure what this means but wanted to mention it.

Effective August 1st, 2022, Chris Larsen resigned as a Director of Ripple in the UK (maybe he'll be advising someone with a conflict-of-interest 👀)

And Ripple changed their name in the UK🧐

My speculation would be that Chris may be doing some work with The Bank of England.

THIS IS OF COURSE SUPER SPECULATIVE!

But it wouldn't be far to travel....

I also wanted to mention the partnership between UCL (University College London) and Ripple.

They join published an article titled "Real-World Enterprise Applications of Digital Assets"

ripple.com/lp/ucl-enterpr…

One final note I'd like to add, before I sum this thread up with the biggest speculation of all is;

MP - @MattHancock has this week discussed the potential need and benefit for CBDC's in terms of cross boarder payments...

https://twitter.com/MerlinXRP/status/1569413046421921793?s=20&t=d1F_aq-1OrEErJF2APSc6A

Finally, Ripple are having their annual Swell event in London. November 16-17, 2022.

This is odd to me as previously it has been in San Francisco, Singapore and then online.

Why pick this year to hold the event in London?
ripple.com/events/swell/g…

Normally Ripple announce something big at these events. What are the odds we will see something out of the Bank of England?

Wholesale Digital Pound?
Sovreign Debt?
Makes sense to use the #XRPL and have $XRP as a neutral bridge asset, right?
You tell me, maybe I'm crazy

That's all folks.

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