As an analyst with over two decades of experience in the ever-evolving landscape of blockchain technology and digital currencies, I find the recent developments surrounding Ripple’s XRP Ledger and its associated foundations intriguing. The transformation of the XRP Ledger Foundation into INFTF (Inclusive Financial Technology Foundation) is a strategic move that reflects the dynamic nature of this industry.
Recently, Ripple‘s President, Monica Long, shared details about a fresh initiative: the creation of an independent foundation for the XRP Ledger. This move follows the rebranding of the existing XRP Ledger Foundation, previously responsible for fostering the expansion and advancement of the XRP Ledger, into the Inclusive Financial Technology Foundation (INFTF).
Ripple’s president addressed a question from a member of the XRP Ledger community about whether there might be plans to dissolve the “XRP Ledger Foundation” following the transition process.
As an analyst, I too have been curious about Ripple’s intentions regarding the support of the XRP Ledger. I am keen on understanding the actions they are taking to maintain its stability, foster innovation, and uphold its decentralized nature – key aspects that are crucial for the growth and success of the XRPL.
Regarding this topic, the president of Ripple, in agreement with statements made by the Ripple CTO, explained that they are engaged in talks involving the XRP Ledger Foundation, XRPL Labs, XRPL Commons, Ripple and other parties about establishing a fresh and separate XRPL Foundation. This new foundation would differ significantly from the recently proposed INFTF entity.
In response, David Schwartz, Ripple’s Chief Technology Officer, mentioned that Rippe has been in talks with the XRP Ledger organization to determine the most suitable way for a foundation to support the needs of the XRP Ledger and its community. He also stated that they are in agreement about the steps to take next, and further details will be disclosed as soon as they become available.
XRP Ledger Foundation rebrands to INFTF
On August 6th, the XRP Ledger Foundation unveiled its new name – INFTF, which stands for the Inclusive Financial Technology Foundation. This legal entity is also known as InFTF MTU.
As I delve deeper into achieving our objectives, it’s become clear to me that relying on a single technology can be limiting. Frequently, there might be a solution that doesn’t align with the typical expectations for an organization like The XRP Ledger Foundation, but could still hold great potential.
Over the past year, the XRP Ledger Foundation has collaborated with numerous global entities to champion social and financial inclusivity on a worldwide scale. Currently, they are an affiliated member of the Organization for Southern Cooperation, a group consisting of 28 nations.
As a researcher, I’m excited to note that this recent development, as per the XRPLF, has opened up an opportunity for all XRP Ledger stakeholders to unite and assume responsibility for certain aspects previously managed by the Foundation: the XRP trademark, the Code Repository, and the xrpl.org domain.
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2024-08-07 12:22