XRP Ledger tested by BIS researchers for data checks

Researchers affiliated with the Bank for International Settlements tested the XRP Ledger as a verification layer for official statistics, according to a working paper published on Sept. 2. Summary BIS researchers tested XRP Ledger Devnet for verifying integrity and origin of official statistical datasets. Prototype recorded cryptographic dataset fingerprints rather than publishing the underlying statistics onchain for public verification. Controlled tests produced median publication latency of three to five seconds in researchers’ measurements conducted. Verification took one to two seconds by comparing files against XRP Ledger records during testing. Authors said the experimental system was not intended for production and remains unmaintained prototype software. The prototype connected the XRP Ledger with Statistical Data and Metadata eXchange, or SDMX, an international standard used by organizations including the BIS to exchange statistical information. Instead of placing complete statistical datasets onchain, the system calculated cryptographic fingerprints representing the data. It then recorded those fingerprints on the XRP Ledger’s Devnet, allowing a recipient to check whethe...