In the digital currency world, where innovation and dynamism constantly redefine what is possible, the recent developments around XRP Ledger (XRPL) have caught the attention of enthusiasts and investors alike. Ripple President Monica Long, in a message shared via social media, shed light on the strategic moves intended to ensure the XRP Ledger not only thrives but leads in the ever-evolving realm of digital finance. In a significant turn of events, what was once known as the XRP Ledger Foundation has transitioned into the Inclusive Financial Technology Foundation (INFTF), marking a pivotal shift in its mission and objectives.
Concerns about the future of the XRP Ledger Foundation have been circulating within the community, especially in light of this notable rebranding. Ripple’s top brass took it upon themselves to address these concerns head-on. In response to a probing question from a community stalwart named Jungle, Ripple’s president clarified the situation in a manner that was both elucidative and reassuring. She confirmed ongoing discussions concerning the establishment of a new, independent XRPL Foundation, distinct from the INFTF, signaling a commitment to not just continue but also to enrich the legacy of the XRP Ledger.
These conversations, as highlighted by Ripple President Monica Long, involve key stakeholders including the original XRP Ledger Foundation, XRPL Labs, XRPL Commons, and Ripple, among others. The strategic dialogues aim to carve out a new, independent XRPL Foundation that would stand apart from the INFTF, ensuring the ledger’s enduring growth and innovation.
Hi Jungle, thanks for your questions. As Bharath and David mentioned, more details to come but to clarify for now, the discussions with XRPLF, XRPL Labs, XRPL Commons, Ripple and others are about a new (independent) XRPL foundation — this is different from the new INFTF…
— Monica Long (@MonicaLongSF) August 7, 2024
Adding his voice to the chorus, Ripple CTO David Schwartz detailed Ripple’s proactive dialogues with the XRP Ledger fraternity. Echoing the president’s sentiments, he underscored the mutual alignment of all involved parties towards nurturing a foundation that genuinely reflects and serves the interests of the XRP Ledger community. This further cemented Ripple’s commitment to transparency, innovation, and decentralization in handling the ledger’s future.
XRP Ledger Foundation rebrands to INFTF
The metamorphosis of XRPLF into INFTF was officially unveiled on Aug. 6, signaling a strategic pivot designed to embrace a broader spectrum of financial technology solutions beyond the XRP Ledger. This rebranding initiative underpins the foundation’s ambition to break free from the shackles of technological monogamy, thereby facilitating a more inclusive approach towards achieving its objectives. INFTF is set to dive deeper into the realm of global social and financial inclusion, leveraging its vibrant network of international collaborations.
The Foundation’s vision of inclusivity is not just limited to the technological spectrum but extends to its role in global social and financial integration efforts. As an associate member of the Organisation for Southern Cooperation, the INFTF has already begun making its mark on the global stage, championing the cause of social and financial inclusion across its 28 member countries. This strategic reorientation positions the INFTF as a custodian of not just the XRP trademark, the code repository, and the xrpl.org domain but as a vanguard of inclusive financial technology at large.
In conclusion, the landscape of digital finance is witnessing the dawn of a new era marked by strategic realignments, innovative foundations, and inclusive growth ambitions. While the transitioning of the XRP Ledger Foundation to the INFTF denotes a significant leap forward, the anticipated inception of a new, independent XRPL Foundation heralds an exciting chapter of sustained innovation, stability, and decentralization. As these entities embark on their respective journeys, the global financial technology community remains eager to witness the unfolding of this transformative narrative. For more insightful narratives and the latest in digital finance, turn to DeFi Daily News.
