XRP Ledger Passes a Crucial Test From the Bank for International Settlements

The Bank for International Settlements (BIS) tested the XRP Ledger as a tool for making official statistics tamper-resistant, using blockchain hashes to verify data origin and integrity.

BIS Working Paper No. 1374, published September 2, anchors cryptographic fingerprints of official datasets directly onto XRPL rather than storing the data itself on-chain.

How the BIS Proof of Concept Actually Works

The paper addresses a specific gap in SDMX, the standard international organization that is used to exchange official economic and financial statistics. SDMX lacks a native cryptographic mechanism to validate data once it has been redistributed.

Researchers generated a cryptographic fingerprint for each dataset using SHA3-512 hashing, grouped multiple fingerprints into a Merkle tree, and anchored the resulting root value on XRPL.

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