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CBDC can enhance financial inclusion through programmability, enabling government and private sectors to create smart contracts for targeted policy functions. This allows for precise allocation of funds for welfare payments, consumption coupons, or food stamps. By programming CBDC, financial support can be directed specifically to those in need and restricted to certain uses, such as purchasing food. This targeted approach helps ensure that assistance reaches the right individuals, ultimately improving financial inclusion.

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CBDCs (Central Bank Digital Currencies) differ greatly from cash. Unlike cash, CBDCs provide central banks with complete control over regulations and usage. This control is enforced through advanced technology, making a significant distinction from cash.

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The main difference with a Central Bank Digital Currency (CBDC) is that the central bank will have complete control over the rules and regulations governing its use. They will also have the technology to enforce these rules. This is significant because it sets CBDCs apart from cash.

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Ripple Mobile is a solution designed to enhance accessibility to CBDC and Ripple in low-tech markets without internet access. Users can register their numbers by dialing the USSD extension, regardless of their phone or internet availability. Once registered, users can check their account balance, get account information including wallet address and balance, view transaction history, and send XRP to other users by following the USSD menu prompts and verifying transactions with a four-digit PIN. Confirmation of successful transactions is sent via SMS. This concludes the Ripple Mobile demo.

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The G7, under the UK's presidency, is introducing public policy principles for retail central bank digital currencies (CBDCs). These CBDCs are digital versions of money, similar to digital banknotes, that can be used alongside physical currency. Unlike other digital money, CBDCs are issued directly by central banks like the Bank of England in the UK.

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CBDC can enhance financial inclusion through programmability, enabling targeted policy functions like welfare payments, consumption coupons, and food stamps. By programming CBDC, money can be precisely directed to specific individuals and purposes, such as food. However, it is important to note that CBDC is not a cure-all for financial inclusion challenges. Factors like financial literacy and digital literacy are not solely technology-related and require collaboration with other policies to improve overall financial inclusion.

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Cryptocurrencies are not widely used for payments due to their high volatility. However, this is expected to change as the logic of economics suggests that volatility will decrease. Giants like Bank of America and JPMorgan are starting to recognize the potential of these technologies and the need to adopt them to remain relevant. Established companies do not want the technology industry to dominate finance, and Ripple's XRP Ledger is positioned at the convergence of DeFi technologies and institutional adoption. Ripple focuses on solving specific problems like sanction screening that institutions will need to be part of this ecosystem.

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Digital money offers significant benefits, beyond just being a digital version of physical currency. It allows for programmability, such as central bank currency with expiry dates. In my book, I discuss the potential for a world where the government can restrict the use of central bank money for certain purchases it deems undesirable, like ammunition, drugs, or pornography. This concept has the potential to be both better and darker, but it highlights the power of a central bank digital currency (CBDC).

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Ripple and XRP are integral to the future of global digital payments. Ripple is partnered with over 300 financial institutions worldwide, including major banks and organizations. They are involved in various international initiatives and have a team with extensive experience in finance and technology. The widespread adoption and partnerships suggest that Ripple and XRP are positioned for long-term success in the evolving digital payment landscape.

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The speaker, who has 20 years of experience with SWIFT, explains that SWIFT is the dominant messaging system in the financial industry. They mention that SWIFT is upgrading its network to enable real-time transactions. Additionally, they suggest that Ripple's SRP could potentially be used as a currency on the SWIFT network, particularly for foreign exchange purposes. The focus is on complementing SWIFT rather than replacing it.

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There is a significant difference between cash and Central Bank Digital Currency (CBDC). With cash, we don't know who is using specific bills, but with CBDC, the Central Bank will have complete control over the rules and regulations governing its use. They will also have the technology to enforce these rules. These differences make CBDC distinct from cash.

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CBDC can enhance financial inclusion through programmability, enabling government agencies and private sector players to create smart contracts for targeted policy functions. This includes welfare payments, consumption coupons, and food stamps. By programming CBDC, money can be precisely directed to specific individuals and restricted to specific uses, such as purchasing food. This programmability feature allows government agencies to effectively target support to those in need.

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The United Nations emblem uses a projection map centered on the North Pole, chosen in 1945 when the UN was founded and the Arctic was strategically irrelevant. Today, the Arctic is described as the world’s most contested zone, with the map’s North Pole center aligned with terrain that major powers are scrambling for. Russia’s narrative centers on a coming pole shift that would thaw parts of Siberia and the Arctic coastline, with Russia controlling approximately 53%. Russia is described as having invested over $35,000,000,000 developing the Northern Sea route (NSR), which saves fifteen days of travel versus the Suez Canal route, for a future Arctic civilization. The United States is described as having a limited Arctic footprint compared to Russia, with a narrative shifting from man-made global warming to climate change. The US is said to be hurrying to meet a 2030 deadline and seeking to acquire Canada and Greenland to dominate the Northwest Passage, characterized as an alternative Arctic trade route to Russia’s NSR. Europe is described as expanding NATO to include Arctic states Sweden and Finland. In January 2025, the European Union established the European Polar Coordination Office (EPCO) in Sweden’s Arctic region. China’s Arctic engagement is described through its Polar Silk Road, an extension of the Belt and Road Initiative in polar waters. China is said to have declared itself a near Arctic state and to be investing in Russia’s Arctic projects in exchange for access. In 2025, China is described as completing a record number of container voyages through Russia’s NSR and designating the Arctic as a strategic new frontier. The transcript frames the current period as the most consequential reorganization of world power since 1945, with the geological advantage for nations centered in the Arctic. It describes a new multipolar world order forming alongside a new financial system where energy, food, and metals become reserve assets. The major players are portrayed as constructing financial systems designed to function independently and internationally. Examples provided include: Hedera’s digital hashgraph in the USA, governed by institutions including Google, IBM, Boeing, LG, and FedEx, described as a faster, more programmable upgrade that works along with stablecoins such as USDC. In China, CIPS (launched in 2015 as a Swift alternative) is described as handling clearing and settlement, and the digital Yuan is said to have reached 2,250,000,000 wallets. mBridge is described as a multi-CBDC platform developed with Hong Kong, Thailand, and the UAE for direct settlement between digital currencies. In Russia, the digital ruble and a card payment system are described as having nearly half a billion cards and processing two thirds of domestic transactions, while SPFS is described as Russia’s Swift alternative connected to 557 financial institutions in 20 countries. The transcript describes four emerging blocs: an American bloc seeking to include all of North America, Latin America, and Greenland; a Middle East conflict zone; a Russian bloc seeking former Soviet states plus parts of Africa and the Balkans; a Chinese bloc seeking South and Southeast Asia plus parts of Africa; and a European bloc seeking the core EU and surrounding periphery. It concludes that these events are presented as the controlled demolition of the unipolar world order and the birth pangs of the new multipolar world order, with all roads leading to the bank for international settlements in Basel, Switzerland.

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The purpose of CBDC is to align with how people buy, save, and work with goods in a modern economy. It aims to address challenges before implementation.

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The speaker discusses the purpose of a Central Bank Digital Currency (CBDC), stating it's meant to keep track of how people purchase, save, and work with goods. They acknowledge a report suggesting cautious progress and state the government is proceeding with caution, citing issues like privacy, financial inclusion, limits, monetary policy, and interest. A consultation is underway, and more information will be available tomorrow. The speaker says a CBDC is about being a modern economy that recognizes how citizens want to do business, but it presents challenges that need to be overcome before proceeding. They state they are still in the phase of looking at those challenges.

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The purpose of CBDC is to align with how people buy, save, and work with goods in a modern economy. It aims to address challenges before moving forward.

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Blockchain is becoming a permanent fixture, expanding beyond commerce to NFTs, real estate, and financial ledgers. The financial system needs an overhaul to eliminate inefficiencies that benefit intermediaries. Technology exists for global financial institutions to settle transactions in seconds for minimal cost. Crypto aims to shift control from banks to users. Ripple's extensive partnerships aim to revolutionize remittance services globally. Ripple's goal is to revolutionize remittance services or fade away.

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Consensus believes that blockchain technology will play a crucial role in transforming the global payments infrastructure. They are partnering with central banks, retail banks, fintech institutions, and blockchain innovators to develop central bank digital currencies (CBDCs). CBDCs are a reimagined way for currency to operate on a fully digital infrastructure, where central banks issue money directly to individuals through e-wallets. The current financial systems are complex and inefficient, with settlement delays and increased transaction costs due to third-party involvement. CBDCs utilize smart contracts to instantly perform functions currently done by third parties, enabling central banks to drive monetary policy and offer innovative products and services. Consensus, as a leader in blockchain software, bridges the gap between the blockchain ecosystem and financial institutions, making them well-positioned to help embrace this new open financial system.

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The XRP Ledger Ecosystem is growing with over 1000 projects and multiple participants. The XRPL is making advancements and gaining attention, with 5 countries building on it. The focus is shifting towards the technology behind the XRP ledger rather than just the token itself. Real world asset tokenization is an exciting trend, with mainstream financial giants like JPMorgan and Bank of America actively pursuing it. The XRP ledger is expected to excel in this area.

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There is a significant difference between cash and central bank digital currency (CBDC). With cash, we don't know who is using specific bills, but with CBDC, the central bank has complete control over the rules and regulations governing its use. Additionally, the central bank has the technology to enforce these rules. These differences make CBDC distinct from cash.

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There is a significant difference between cash and central bank digital currency (CBDC). With cash, we don't know who is using specific bills, but with CBDC, the central bank has complete control over the rules and regulations governing its use. Additionally, the central bank has the technology to enforce these rules. These differences make CBDC distinct from cash.

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We developed technology called interledger to address cross border payment challenges without needing a universal blockchain. Ripple's decentralized model is infinitely scalable, using XRP for high-speed transactions. This approach aims to serve the global population of 7 billion people, projected to reach 9 billion by 2050.

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The speaker explains that there is a significant difference between cash and Central Bank Digital Currency (CBDC). With cash, it is unknown who is using specific bills. However, with CBDC, the Central Bank will have complete control over the rules and regulations governing its use, and the technology to enforce them. This distinction is crucial and sets CBDC apart from cash.

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The speaker discusses the analysis of Central Bank Digital Currency (CBDC) and its comparison to cash. They highlight a significant difference between the two: while cash transactions are anonymous, CBDC allows the central bank to have complete control over the rules and regulations governing its use. Additionally, the speaker emphasizes that the central bank will possess the necessary technology to enforce these regulations. These factors distinguish CBDC from cash and make it a unique form of central bank liability.

The Pomp Podcast

Brad Garlinghouse, CEO of Ripple: One on One with the Man Running Ripple and XRP
Guests: Brad Garlinghouse
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In this episode of Off the Chain, host Anthony Pompliano interviews Brad Garlinghouse, CEO of Ripple, discussing Ripple's operations, the role of XRP, and the company's progress. Garlinghouse emphasizes that Ripple sells software to banks, leveraging blockchain technology to improve payment efficiency. He clarifies that Ripple and XRP are distinct entities, with Ripple focusing on providing solutions for financial institutions while XRP serves as a digital asset on the XRP ledger. Garlinghouse shares his background in tech, including experiences at Yahoo and AOL, before transitioning to the crypto space. He recalls his first encounter with Bitcoin in 2012 and how it led to his recruitment at Ripple in 2015. He highlights Ripple's focus on payments, particularly through products like XCurrent and On-Demand Liquidity, which allow banks to operate without pre-funding accounts, thus improving liquidity management. The conversation touches on Ripple's customer base, with over 200 clients, and the importance of deployment and transaction volume as key performance metrics. Garlinghouse notes that the number of transactions has been doubling quarterly, indicating strong adoption. He also addresses the regulatory landscape, asserting that Ripple complies with laws and works with governments, contrasting this with the perception of crypto as a tool for illicit activities. Garlinghouse discusses XRP's utility, stating that it is primarily used in the On-Demand Liquidity product, while other products operate without it. He defends XRP against criticisms regarding its security status, arguing that it is efficient and has never been hacked. The episode concludes with Garlinghouse expressing optimism about Ripple's impact on global commerce and the potential for multiple winners in the crypto space, emphasizing the importance of solving real customer problems.
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