NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Federal Reserve Bank VP Acknowledges Ripple

Yashu Gola
Yashu Gola
7 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ripple-LogoIn his recent interaction with CoinDesk.com, Federal Reserve Bank’s Vice President and Research Director David Andolfatto acknowledged Ripple network for utilizing Bitcoin’s original ledger at its best.

His statement, which was focused on how Bitcoin technology could bring genuine benefits to US central bank’s real-time settlement system, suddenly found Ripple as a reference to the true potential of Bitcoin’s public ledger system. According to Andolfatto, the Federal System could utilize a distributed ledger system to keep all the books simultaneously in their member banks. So in case of a system breakdown, the records could be recovered from the ledger.

“You could actually see which bank is sending money to which bank on this ‘Fedcoin blockchain,’ so if the Fed was to make an emergency loan to one of these entities you’d be able to observe who is the recipient of the loan and how much,” stated Andolfatto by drawing an imaginative scenario to elaborate his point.

He couldn’t be wrong as Ripple does exactly the same thing which he currently visions for Federal Banking Systems. Ripple software offers its users a home-grown wallet to trade Bitcoins for its private currency XRP, as well as fiats like US Dollar and Euro, in a distributed order book. It overall makes the process of withdrawing and depositing money distributable, as funds could be used to buy/sell Bitcoins from any of the listed order books, not just one.

“This [Andolfatto’s reference] seems to confirm Ripple is a winner in the inter-banking gateway business. Good for Ripple Labs (and XRP price),” said a Ripple enthusiast.

Andolfatto meanwhile also indicated that Fed economists are not thinking about implementing such a technology for now, citing their prior engagements as the biggest reason. “The thing to keep in mind is that there’s a lot on the minds of fed economists these days,” he added.

Do share your views on Fed official’s views in the comment section below.

Images from Ripple and Wikipedia.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Comments 6

  1. Jeff Cliff says:
    10 years ago

    This makes no sense. While it’s true that Ripple predates Bitcoin, it simply isn’t true that the “original ledger” of Bitcoin is Ripple’s — the satoshi whitepaper is a testament to that fact. Headline is misleading.

    Reply
    • Guest says:
      10 years ago

      The original Ripple was a way of tracking balances between different issuers on a network. It was most certainly a ledger, just not a crypto ledger. It was definitely in existence pre-bitcoin too. Perhaps the article’s author used the wrong phrasing?

      Reply
      • Jeff Cliff says:
        10 years ago

        > just not a crypto ledger.

        It was from very early on a project to make a crypto-ledger, Jorge Timon and the like had already come to the conclusion that that was necessary before 2009. Then Bitcoin happened, and showed us that it could, in principle, be done. Finding the first post where crypto was used in this way would be an interesting exercise, but unfortunately some of the original forums are already starting to be lost to history.

        Reply
      • Jeff Cliff says:
        10 years ago

        Also: apparently relevant patents in the area of digital cash wouldn’t expire until 2014, anyway.

        Reply
  2. tommytrain says:
    10 years ago

    Misleading, speculative and erroneous at best, move to xrptalk–>speculation–>spam

    Reply
  3. Guest says:
    10 years ago

    Agreed. This article was definitely unclear and confusing. Mixing the two technologies just confuses everyone and does not help our cause. Unless the writer wants to do that?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comments 6

  1. Jeff Cliff says:
    10 years ago

    This makes no sense. While it’s true that Ripple predates Bitcoin, it simply isn’t true that the “original ledger” of Bitcoin is Ripple’s — the satoshi whitepaper is a testament to that fact. Headline is misleading.

    Reply
    • Guest says:
      10 years ago

      The original Ripple was a way of tracking balances between different issuers on a network. It was most certainly a ledger, just not a crypto ledger. It was definitely in existence pre-bitcoin too. Perhaps the article’s author used the wrong phrasing?

      Reply
      • Jeff Cliff says:
        10 years ago

        > just not a crypto ledger.

        It was from very early on a project to make a crypto-ledger, Jorge Timon and the like had already come to the conclusion that that was necessary before 2009. Then Bitcoin happened, and showed us that it could, in principle, be done. Finding the first post where crypto was used in this way would be an interesting exercise, but unfortunately some of the original forums are already starting to be lost to history.

        Reply
      • Jeff Cliff says:
        10 years ago

        Also: apparently relevant patents in the area of digital cash wouldn’t expire until 2014, anyway.

        Reply
  2. tommytrain says:
    10 years ago

    Misleading, speculative and erroneous at best, move to xrptalk–>speculation–>spam

    Reply
  3. Guest says:
    10 years ago

    Agreed. This article was definitely unclear and confusing. Mixing the two technologies just confuses everyone and does not help our cause. Unless the writer wants to do that?

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin price news

Dogecoin To $3.94 This Cycle? This Chart Says It’s No Meme

In a monthly chart shared on July 8, crypto analyst Kevin (@Kev_Capital_TA) outlined a long-term bullish thesis for Dogecoin (DOGE),...

Jake Simmons 3 hours ago
Sei

Sei Network Unlocks Japan Market After Hitting $626M In TVL

US traders and DeFi fans have turned their eyes to Sei Network (SEI) after its Total Value Locked (TVL) climbed...

Christian Encila 4 hours ago
XRP

Pundit Says XRP’s Rise To $1,000 Will Happen A Lot Sooner Than Anticipated

XRP might be currently trading around $2, but its path to double and four digits may be faster than imagined....

Scott Matherson 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin vs Ethereum

Bitcoin Moving With Stocks, But Ethereum’s Correlation Is Fading

Keshav Verma 13 minutes ago
Bitcoin

Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Ronaldo Marquez 1 hour ago
Bitcoin

Last Crash Before The Surge: Why Bitcoin Is Set To Drop Below $107,000

Scott Matherson 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール|次世代ビットコイン拡張プロジェクトが200万ドル目前、投資家が続々と参加中

    ...

    10 hours ago
  • 仮想通貨おすすめ|ビットコインが過去最高値に迫る中、ETFが70万トークンを保有

    ...

    10 hours ago
  • 新しい仮想通貨が160万ドルを調達──過剰な宣伝を避ける注目のミーム系ボット登場

    ...

    10 hours ago
  • 仮想通貨おすすめ|ビットコインが10万8,000ドル突破、2025年7月に注目の17銘柄

    ...

    10 hours ago
  • MEXC Launchpad Debuts PUMP Token with Exclusive 40%...

    10 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.