The Bank for International Settlements, the institution coordinating monetary policy among the world’s central banks, published Working Paper No. 1374 using the XRP Ledger to verify the authenticity of official statistics. The prototype anchors cryptographic fingerprints of economic datasets on the XRP Ledger using SHA3-512 hashes organized in a Merkle tree structure, along with W3C Verifiable Credentials for publisher authentication. Under controlled conditions, the system achieved a median publication latency of 3 to 5 seconds and a verification latency of 1 to 2 seconds, with a per-transaction cost of approximately $0.000003 through efficient data batching. The researchers chose the XRP Ledger for its low transaction fees and rapid consensus finality, while noting the architecture could be adapted to other ledgers or formats such as XBRL. The BIS clarified that this research is experimental and does not represent a commitment to production implementation or an official endorsement of the XRP Ledger.
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