The future of the XRP Ledger (XRPL) took center stage recently following a tweet from Ripple President Monica Long. Long’s message addressed speculation surrounding the fate of the XRP Ledger Foundation (XRPLF) after its rebranding to the Inclusive Financial Technology Foundation (INFTF) on August 6th, 2024.
Community Concerns Addressed
The tweet responded directly to a question from an XRP Ledger community member who expressed concern about the future support for XRP Ledger following the INFTF name change. The community member specifically inquired about Ripple’s commitment to XRPL’s stability, innovation, and decentralization.
Independent Foundation in the Works
Long’s response clarified that discussions are ongoing with various stakeholders, including the current INFTF (formerly XRPLF), XRPL Labs, XRPL Commons, and Ripple itself. These discussions center around the creation of a new and independent XRP Ledger Foundation, separate from the newly established INFTF.
This echoes earlier statements made by Ripple CTO David Schwartz, who confirmed ongoing conversations with the XRPL community to determine the best path forward for a foundation dedicated to serving XRPL’s interests. Both Long and Schwartz emphasized alignment on the next steps and promised to share specifics soon.
Unpacking the INFTF Rebrand
The rebranding of the XRPLF to INFTF sparked questions within the community. The official statement from INFTF explains that the name change reflects the organization’s broader focus on financial inclusion initiatives that extend beyond just XRP Ledger technology. As they stated, “being tied to any one technology is restrictive,” suggesting a desire to explore solutions outside the realm of XRP.
Despite the shift in focus for INFTF, the organization remains committed to its role as a custodian of key XRP Ledger assets. This includes the XRP trademark, the code repository, and the xrpl.org domain.
What Does This Mean for XRP?
The news of a potential new, independent XRP Ledger Foundation signifies Ripple’s continued commitment to the decentralized nature of XRPL. While the exact details and structure of this new entity remain undisclosed, it suggests a dedicated body focused on fostering XRPL’s growth and development.
The ongoing discussions also highlight Ripple’s collaborative approach with the broader XRP community. This collaborative spirit, coupled with the potential of a dedicated foundation, could provide a significant boost to XRPL’s future.
Looking Ahead
The coming weeks will be crucial as Ripple and other stakeholders unveil further details regarding the proposed independent XRP Ledger Foundation. This development, along with the recent positive outcome of Ripple’s legal battle with the SEC, paints a promising picture for the future of XRP and the XRPL ecosystem.