Ripple's chief technology officer acknowledged that the company was developing a feature that would allow users to create tokens backed by assets directly on the XRP headquarters.
In a video released Thursday by Ripple, David Schwartz, chief technology officer of the company, said:
Ripple is working on new "exciting" features aimed at expanding Office functionality. And it will allow third-party users to introduce other digital currencies to the Ripple ecosystem.
Although Schwartz did not go into detail and scrutinize this new feature, he said it could be used to launch fixed value tokens on the Ripple office. He went on to say:
Stable digital currencies are one of the obvious uses of the Ripple, but this new feature is not just about digital currencies, but also supports assets that are dependent on some assets other than digital currencies.
Similar features are also found on other blockchains, notably Tetra, which runs a layer of stable digital currencies across multiple networks simultaneously. But Schwartz acknowledged:
Rupee-backed asset-backed tokens have guaranteed liquidity based on the mechanics of this office.
Schwartz earlier described in a video posted on his YouTube channel in October how a stable digital currency on the XRP network that guaranteed liquidity could be liquidated. He stated in the video:
Instead of creating separate markets for each digital asset, XRP deals, so a stable digital currency remains liquid, regardless of its popularity or popularity.
This is not the first time Ripple has taken actions that are outside the realm of his business. Xpring, the investment arm of the company, seized the Logos Network decentralized payment platform in September 2007. At the time, the senior vice president of xxxx in connection with the acquisition of the company acknowledged:
The acquisition will help Ripple launch new financial products on the XRP headquarters.
In a video on Thursday, Schwartz said Ripley had already considered additional and additional uses. Schwartz's claim indicates that there are currently some applications on the network's office that have not yet been used.
In the early days, the engineering team realized that the features of the algorithms we built allowed us to do things like function as a decentralized exchange.
These were previously incorporated into the "operating system" in the mid-year and included features that allowed users to submit their digital assets.
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