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- Utilizing the XRP Ledger, Filedgr aims to improve AI systems through advanced data solutions, including Digital Certificates and the Digital Twin Data Hub.
- Filedgr employs smart NFTs for the verification of physical objects and their data. In the future, Filedgr plans to transition into a decentralized autonomous organization (DAO).
Ripple’s development arm RippleX has recently presented a new project dubbed Filedgr, within the XRP ecosystem. This new project will use the XRP Ledger to provide advanced data authentication as well as management solutions to enhance artificial intelligence (AI) systems.
In the blog post published under the series of “Developer Reflections”, RippleX noted that the Filedgr project will empower users using the Web technology while securing data control and transparency. the blog post notes:
Filedgr stands out by offering unique features like Digital Certificates and the Digital Twin Data Hub, revolutionizing industries with authenticated data and fostering trust in product information.
This integration of Filedgr will leverage the capabilities of XRPL in managing extensive data transactions efficiently. Known for its high transaction speeds and low fees, the XRP Ledger is also capable of handling large volumes of data associated with the product lifecycle information.
The blog post adds:
The promise of Web3 is a decentralized internet where users have greater control over their data and digital assets. Filedgr harnesses the power of Web3, using blockchain technology to ensure secure and transparent data storage and transfer.
Interestingly, this development comes as Ripple plans to launch EUR stablecoin as per MiCA regulatory standards, per the CNF report.
Use-cases and Benefits of XRP Ledger’s Filedgr Platform
The Filedgr digital certificates use smart NFTs for authenticating and securely managing physical objects and their related data. This will bring further authenticity and data integrity through the product’s lifecycle.
Filedgr’s other feature Digital Twin Data Hub acts as a secure repository for managing digital assets. The Hub presents advanced notorization as well as live data capture capabilities facilitating informed decision-making based on real-time data.
As the Ripple blog post explains: “Data authentication is critical in bolstering trust in AI systems. Filedgr looks to ensure data integrity through robust authentication processes, enhancing user confidence in AI-driven insights. This authentication not only safeguards against tampering but also builds a transparent and accountable AI ecosystem.”
The IPFS (InterPlanetary File System) powers Filedgr allowing modifications for access control and increased data redundancy. Thus, this makes Filedgr suitable for enterprise applications. Additionally, Ripple has implemented a gating mechanism for access control wherein Digital certificates are hosted as Single Page Applications (SPAs) on a Private IPFS Cluster.
In the future, Filedgr is planning to transition into a decentralized autonomous organization (DAO) in order to promote “transparency and community-driven governance”. The Filedgr Foundation will oversee this transition to ensure operational efficiency.
Ripple’s native cryptocurrency XRP has been showing strength with upward price action in the past two weeks and surging all the way to $0.60. As of press time, the XRP price is down by 3.83% with a market cap of $33.5 billion. Per the CNF update, some market analysts are also predicting an XRP price rally to $20.
Amid the recent launch of Ethereum ETF, market reports are abuzz with the possible launch of Solana and XRP ETF, reported CNF.
