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XRP Core Summary
The Bank for International Settlements (BIS) tested XRP Ledger (XRPL) as a verification layer designed to protect official economic data sets from unauthorized tampering while avoiding exposure of sensitive information on the public Internet. The prototype system combines the SHA3-512 hash algorithm, Merkel tree and verifiable credential technology to quickly complete inspections at extremely low transaction costs.
BIS uses XRPL to verify official economic statistics and prevent data tampering
The Bank for International Settlements (BIS) has tested the use of XRP Ledger (XRPL) as a verification layer to protect official economic statistics from tampering. According to Working Paper No. 1374, the system anchors the encrypted fingerprints of published datasets on XRP Ledger.
The researchers designed this prototype to confirm that the statistics received matched information distributed through specific channels and provided by verified publishers. Official agencies typically exchange data through Statistical Data and Metadata Exchange (SDMX), but SDMX lacks integrated cryptographic verification tools. As a result, the recipient cannot automatically prove that the information received is exactly consistent with the original data set published by the original accreditation body. BIS's prototype addresses this weakness by linking statistical infrastructure with public transaction records stored on XRPL.
XRPL records dataset fingerprints without exposing information
Instead of uploading sensitive data sets, the system generates a SHA3-512 hash value that provides a unique digital fingerprint for each release. The researchers built the Merkel Tree on top of multiple hashes and then anchored the final root hash on it through a transaction on XRP Ledger.
In addition, each dataset comes with a W3C Verifiable Credential that confirms the identity of the organization responsible for the publication. This arrangement allows users to verify the identity of the publisher and check whether anyone has modified the information after the official release.
In controlled testing, the prototype system was released in 3 to 5 seconds and verified in 1 to 2 seconds. The efficient batch processing model reduces estimated transaction costs to approximately US$0.00003, supporting low-cost verification of large-scale statistical release systems. In addition, the hash value does not reveal the specific value of the underlying data, but can identify any subtle changes in the file to be verified.
BIS explains why researchers chose XRP Ledger
Researchers chose XRPL because of its low transaction costs and fast consensus finality, which enables a low-cost verification process with extremely low latency. Therefore, governments, businesses, researchers and citizens can independently confirm that economic statistics remain complete and have not changed after release.
Developers can also adapt the architecture to work with XBRL (Extensible Business Reporting Language), which public companies typically use when preparing regulated financial reports. However, the BIS stressed that the experiment does not represent a commitment by banks to put it into production deployment. In addition, this study does not constitute BIS endorsement of XRPL or its digital asset XRP. Because the prototype system has not been maintained and is still in the experimental stage, although it demonstrates the role of XRPL in protecting statistical integrity, its actual operational impact is limited.
