R3 Corda Platform Does Not Leverage XRP: Details
Moonchaser, a prominent figure in the XRP community, has clarified a prevailing misconception regarding R3 Corda’s connection with XRP and the XRP Ledger (XRPL).
Taking to X today, the influencer debunked the claims that R3 was utilizing XRP or XRPL for its settlement mechanisms, shedding light on the actual scenario
Moonchaser unequivocally stated that R3 Corda is not utilizing XRP or XRPL for its operations. Instead, R3 Corda has chosen the XDC Network, whose primary settlement asset is XDC. This statement serves to rectify the false narrative.
R3 Corda is a permissioned network for financial services and other industries. Notably, R3 Corda has integrated the XDC Network, according to an announcement in 2021, solidifying its choice of XDC as the primary settlement token.
Addressing the past confusion, Moonchaser highlighted that there was indeed an announcement about R3 Corda intending to use XRP as its first mechanism for settlement. R3 made this announcement in December 2018.
However, this was merely a Proof of Concept (POC). Data suggests the implementation never fully materialized, ultimately leading to a legal dispute between R3 and Ripple.
The details of the ensuing lawsuit between R3 and Ripple remain undisclosed due to a confidential settlement, which resulted in both companies, R3 and Ripple, ceasing to mention each other.
Another prominent community member, Eri, also clarified this development in a separate statement. Eri noted that the Corda Settler is an open-source program allowing individuals to deploy tokens for use, including XRP. This fact does not mean the platform officially uses XRP.