BIS researchers test XRP Ledger for statistical data integrity

The experimental system does not store actual datasets on the blockchain, which would be inefficient and raise privacy concerns. Instead, the software calculates a SHA3-512 cryptographic hash—a unique digital fingerprint—for each file. These fingerprints are anchored to the XRP Ledger’s Devnet, allowing recipients to verify that a downloaded file matches the publisher's original version. To handle multiple data series efficiently, the prototype organizes hashes into a Merkle root, enabling a single onchain transaction to validate complex sets of information.

Testing revealed a median publication latency of three to five seconds, with verification completed in one to two seconds. Beyond simple integrity checks, the researchers integrated W3C Verifiable Credentials to confirm the identity of the data publisher, mitigating the risk of fraudulent actors spoofing official records. Despite these results, the project remains an unmaintained proof of concept. The authors emphasized that the experiment does not constitute an endorsement of XRP as an investment, nor does it signal an institutional transition toward production deployment. Any future adoption by central banks or statistical agencies would require extensive work regarding governance, security, and the management of data revisions.