BIS Publishes Working Paper Testing XRP Ledger for Anchoring Official Statistics On-Chain
A BIS working paper describes a proof-of-concept using the XRP Ledger to record cryptographic fingerprints of official statistics for independent verification.
Why it matters
The significance of this story is limited at present. It is a single-source report on a proof-of-concept paper from a central bank research institution, not an announcement of production deployment or regulatory action.
Key facts
The Bank for International Settlements published Working Paper No 1374 testing the XRP Ledger as a proof-of-concept for anchoring official statistics on-chain.
Reported by CryptoPotato
The prototype publishes in three to five seconds and verifies in one to two seconds.
Reported by CryptoPotato
Only cryptographic fingerprints are written on-chain; the underlying statistical data remains off-ledger.
Reported by CryptoPotato
The system normalizes each file with Canonical XML 1.1, hashes it with SHA3-512, and writes a Merkle root to the Memos field of an XRPL Payment transaction.
Reported by CryptoPotato
Each file carries a W3C Verifiable Credential in its header, signed by the publisher.
Reported by CryptoPotato
The BIS has previously tested public blockchains through Project Mariana, which trialed wholesale CBDC settlement with the central banks of France, Singapore, and Switzerland.
Reported by CryptoPotato
What happened
The Bank for International Settlements published Working Paper No 1374 describing a proof-of-concept that uses the XRP Ledger to anchor official statistical data on-chain, according to CryptoPotato. The system hashes each SDMX dataset — the standard used by international organizations to exchange official statistics — and writes a single summary value to the XRPL, publishing in three to five seconds and verifying in one to two seconds. Only cryptographic fingerprints reach the chain; the underlying data remains off-ledger, and the method extends to formats such as XBRL. The paper is authored by BIS staff and describes how statistical agencies could give users an independent way to check the origin and integrity of published data without changing existing dissemination systems. CryptoPotato noted the BIS has tested public blockchains before, including Project Mariana, which trialed wholesale CBDC settlement on a public chain with central banks from France, Singapore, and Switzerland.
How the story developed
- First report
First report by CryptoPotato
BIS Tests XRP Ledger to Anchor Official Statistics On-Chain in Proof-of-Concept Paper
- Update
BIS publishes Working Paper No 1374 testing XRPL for on-chain official statistics verification
CryptoPotato reported on the proof-of-concept paper describing cryptographic fingerprints of public datasets on the XRP Ledger.
Affected entities
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CryptoPotato Crypto media | BIS Tests XRP Ledger to Anchor Official Statistics On-Chain in Proof-of-Concept Paper | Original |
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