Ripple CEO Brad Garlinghouse said a recent Bank for International Settlements experiment validates the XRP Ledger’s ability to support institutional data integrity. The BIS tested XRPL through a prototype designed to protect the authenticity of official statistical information without publishing sensitive datasets directly on-chain.
The prototype converted each dataset into a unique cryptographic fingerprint using SHA3-512 hashing and combined individual records through a specialized Merkle tree structure. This created one consolidated root, allowing multiple records to receive verification without requiring numerous separate blockchain transactions. Researchers applied the system to Statistical Data and Metadata Exchange, a standard format for distributing structured official statistics.
According to the BIS paper, researchers selected the XRP Ledger because of its low nominal fees and rapid consensus finality. Under controlled testing conditions, median publication times ranged from three to five seconds, while verification required between one and two seconds. The framework also used verifiable credentials connecting each statistical fingerprint with the identity of its recognized publisher.
Garlinghouse highlighted XRPL’s low fees, fast settlement and proven operational record, describing the network’s selection as unsurprising. However, the BIS experiment does not confirm that the XRP Ledger has been adopted across BIS operations or broader financial infrastructure. Researchers framed the system as a proof of concept and emphasized that the framework remained compatible with other blockchains. Garlinghouse’s response focused on technical performance rather than XRP’s market price.
