Thread by @AliGxrp

The IMF is working with Ripple to utilise XRP to disrupt the traditional financial system and create a ‘clean slate’ system

This thread breaks down that vision💥
Trust me, it’s worth the read…

Let’s start by outlining the following:

Ripple was selected to serve on the IMF’s high level advisory group on Fintech.

Chris Larsen, Executive Chairman, Ripple — being one of the 19 members

Christine Lagarde — Managing director of the IMF publicly stated that Ripple & Circle are the best choice for banks to build upon!

Circle is also a member of the High level advisory group.

Now to set the stage for this Vision:

Chief Statistician —Bert Kroese

He states that a profound transformation is emerging in digital forms of payments with CBDCs tokenised deposits and stable-coins and other crypto assets and ignoring them is no longer an option!

Here is Brad Garlinghouse — CEO of Ripple presenting XRP & the XRP Ledger to the IMF & Swiss national bank

Now let’s lay down what the Vision with XRP and the IMF is:

So the vision, is to have XRP effectively be an eSDR (E-Special Drawing Rights) between Multi-currency corridors.

XRP is the only cryptocurrency with functionality and features that can facilitate transactions in this nature.

In a working paper titled ‘Trust Bridges and Money Flows: A digital Marketplace to Improve Cross-Border Payments’ published by both the IMF and BIS.

In the document it concludes that a settlement asset for cross-border payments does not currently exist. It also states that XRP would be suitable for this and a shift towards digital money is needed to improve cross-border payments.

bis.org/publ/work1112.…

In another paper published by the IMF, it states that CBDCs could simplify intermediation chains and increase availability by starting a ‘Clean slate’ system designed to achieve ‘Interoperability’ between different jurisdictions allowing for real-time payments.

The same paper goes on to say that the IMF is working on a concept for global interoperability.

It States that CBDCs would require a common standard of interoperability agreed upon by multiple central banks

Key word to focus on: ‘Interoperability’

Listen to Daniel Eidan from the IMF, SWIFT CEO, Bank of America CEO as-well as others talking about this ‘Interoperability’ regarding CBDCs

What’s interesting is that a document from the IMF states that Ripple has a cutting edge CBDC platform 👀

imf.org/en/Publication…

In another document 😅 Titled ‘The Rise of Payment and Contracting Platforms’ published by the IMF, it states that Proof of work (Bitcoin) distributed validation and proof of stake (Ethereum) are not scalable or efficient.

Ripple and XRP are the scalability solution to new forms of digital money. CEO of Circle — Jeremy Allaire has publicly stated this:

Now the question is why will this bridge currency be XRP and not another alternative?

Because nothing can beat XRPs capabilities, SWIFT which currently processes 75-80% of Cross-border transactions globally, has even publicly stated that they will not be creating their own version because they would be in competition with XRP (Essentially stating that it would be pointless to compete)

The Vision/Solution that is needed is a Bridge-currency that is ‘Interoperable’ with these CBDCs. Listen to Daniel Eidan (IMF) describe this:

There are currently 100B XRP in circulation, around 65B of this is held in Escrow by Ripple.

In the document published by the IMF, The Rise of Payment and Contracting Platforms — it states that an escrow platform model could be a plausible solution.

This escrow model could be utilised to control financial stability and liquidity.

IMF has also illustrated RippleNet in one of there documents on: Supervision of Financial market infrastructures, resilience of central counterparties and innovative technologies:

Now here’s where it gets Juicy if it wasn’t already 😮‍💨

Trust Bridges and Money Flows — A document published by the IMF (2023)

It states that a ‘Third currency’ could become the vehicle currency on a marketplace. The transacting process involves trading currency A for B using currency C to facility this in the middle.

This is EXACTLY what the payment flow of xRapid is which utilises XRP to do so.

What’s interesting is that Ripple presented this payment flow using XRP to the IMF in 2018, and was confidential information at the time.

(Blue letters (A,B,C) for visual purposes, not part of document)

And to finish off: The document states that a settlement asset such as XRP arises as a suitable model 🎤💥

So by this stage, it shouldn’t be a surprise that Ross Leckow (IMF) reacted this way when being asked by Brad Garlinghouse (Ripple) his thoughts on the IMF holding crypto assets: