Ripple CBDC Innovate

The Ripple CBDC Innovate challenge is designed to promote the building of limitless applications for Central Bank Digital Currency (CBDCs.)

Devpost is excited to offer individual developers and enterprise developers an opportunity to create CBDC applications for prize money awards. The goal of CBDC Innovate 2023 is to “build or update a fintech or payments solution utilizing Ripple’s CBDC solutions.”  In Phase I applicants will build an application on the public XRP Ledger. In Phase II the finalists will build on Ripple’s Private CBDC Platform.

Ripple is currently engaged with Central Banks around the world to better understand their goals and assess how Ripple’s CBDC Platform can help achieve them. CBDCs will be a game-changer for Central Banks, enabling better interoperability of payments &  speedy transfers (including cross border payments) , accelerating retail-facing transactions, and promoting inclusive financial frameworks. CBDC Innovate  is designed to encourage creative thinking, development, and exploration of novel CBDC applications and use cases, enabling a deeper understanding of how CBDCs can affect the future of money 

CBDC Innovate will be held in two phases.

For Phase 1 of the CBDC Innovate, participants can use the XRP Ledger to develop on. Winners will have the option of utilizing their own CBDC Private Ledger provisioned by Ripple during Phase II of the challenge.

Phase 1 of CBDC Innovate  

Entrants must successfully complete Phase 1 of the competition to move forward into the Phase II competition. Phase I is designed to be an ideation stage, requiring a solid foundational idea and distinct knowledge of the XRP Ledger’s specific features to move forward to Phase II. 

CBDC Innovate Phase I Dates

Winners from the Phase I event will be invited to Phase II, the CBDC Innovate Winners Only Event with an even larger prize pool!

CBDC Challenge Phase II (expected dates): 

May 15, 2023 - Aug. 18, 2023

Ripple

Online

$200,000