Digital assets are increasing in importance as the world moves closer to Web 3.0.
#crypto #digital #currencies #ripple #CBCD #web3
"Ripple is launching an innovation challenge aiming to promote the development of XRP Ledger apps for central bank digital currencies"--Paul Ebeling
The contest page says that entrants can submit projects to 3 categories: interoperability, retail-facing, and financial inclusion.
Entrants submitting retail-facing projects should aim to develop interfaces for humans to interact with CBDCs in a “hip and fashionable way.”
“Access to financial institutions for underbanked and unbanked individuals has been a pain point for many in developing nations.
The Big Qs: Can a CBDC be utilized in an offline environment? How easy will a CBDC be to use for users? How can a CBDC be integrated into different existing financial systems?
The Big A: Financial inclusion projects should aim to bring banking services to underserved populations and “enable spending power from traditionally marginalized communities.”
The competition includes $47,000 in prices, and winners receive invites to “Ripple’s Winners Only Event,” which has $150,000 in prizes. The deadline for submissions is August 25th.
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Have a prosperous holiday weekend, Keep the Faith!
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