The Bank for International Settlements (BIS) has tested the XRP Ledger as a public verification layer for economic statistics, enabling the creation of a permanent record proving whether a published dataset has been altered. The cryptographic fingerprint of the dataset is recorded on the XRP blockchain via a payment transaction using the memo field. The prototype developed on XRPL’s DevNet achieved a median publication latency of roughly three to five seconds, with verification taking about one to two seconds. The system was designed around the ledger’s low transaction costs and rapid confirmation times. However, this remains a proof of concept and not an official announcement.
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