- Susan Friedman, Ripple’s Head of Policy, highlights London’s potential as a central hub for the blossoming digital currency environment.
- Friedman also emphasizes the importance of CBDCs, viewing them as a natural progression of value exchange in a globalized world.
Ripple’s Strategic Vision for London’s Crypto Landscape
In a recent dialogue with the Digital Pound Foundation, Susan Friedman, the policy chief at Ripple, expounded on the company’s perspective of London as a rapidly emerging center for the world of digital currencies. Friedman expressed great enthusiasm over the proactive stance of the UK government towards financial technology, particularly Central Bank Digital Currencies (CBDCs), exemplified by the Bank of England’s interaction with the digital pound initiative.
Further elaborating on Ripple’s burgeoning presence in London, Friedman recognized the city’s vibrant climate that fosters the growth of cryptocurrency.
CBDCs: The Future of Value Exchange
In the grand scheme of global digital currency prospects, Friedman underscored the role of CBDCs, classifying them as a logical progression in the exchange of value in an increasingly interconnected world. She suggested that CBDCs could afford the same safeguards as conventional fiat currencies while better addressing unique domestic challenges. For these digital currencies to interact efficiently with global markets and evolve according to future demands, the execution of an all-encompassing strategy would be crucial.
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Digging deeper into the broader implications of digital currencies, Friedman highlighted their potential to stimulate financial inclusion, augment person-to-person payments, enhance the efficiency of payment infrastructure, spur innovation, and possibly minimize environmental impact. While advocating for these advancements, she acknowledged the hurdles faced by central banks to preserve financial stability and retain control over their monetary systems.
Ripple, being a founding member of the Digital Pound Foundation, appreciates the collective approach of the foundation in navigating the intricacies of digital currency. The foundation fosters dialogue and collaboration among various stakeholders, from policy proposal deliberations to investigating practical applications of a digital pound.
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