XRP Ledger Passes Crucial Test by the Bank for International Settlements

The Bank for International Settlements (BIS) has demonstrated that the XRP Ledger (XRPL) can be used to protect the integrity of official statistics. By anchoring cryptographic fingerprints of datasets onto the ledger, the BIS showed a method to verify data origin and ensure tamper‑resistance.

How the Proof of Concept Works

Researchers created a SHA3‑512 hash for each dataset, combined multiple hashes into a Merkle tree, and recorded the resulting root hash on XRPL. A signed W3C Verifiable Credential identifies the publisher, allowing users to confirm authorship and integrity with a single ledger lookup.

Key Technical Choices

• Low transaction fees and fast consensus finality of XRPL were cited as primary reasons for selection.
• Only the fingerprint (root hash) is stored on‑chain; the underlying data remain off‑chain to preserve confidentiality.
• Each anchoring transaction used a fixed fee of 10 drops (≈0.00001 XRP), serving solely as a network requirement.

Performance Results

The prototype recorded median publication times of 3–5 seconds and verification times of 1–2 seconds. The BIS released the reference implementation as open‑source code through its BIS Open Tech portal.

Implications

The test adds an institutional use case for XRPL as infrastructure for data integrity, though the BIS did not indicate any immediate adoption for official operations. The approach separates the cost of on‑chain anchoring from the larger expenses of data storage and processing.