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NGERULMUD, PALAU & SAN FRANCISCO--( / )--The Republic of Palau and Ripple have launched a limited stablecoin pilot. Palau and Ripple, the leader in enterprise blockchain and crypto solutions, started collaborating on exploring potential use cases in 2021. The U.S. Dollar-backed Palau Stablecoin (PSC) will be issued on the XRP Ledger (XRPL), a carbon-neutral blockchain that has been used to transact millions of transactions over the course of 10 years, enabling privacy and security for settlement and liquidity of tokenized assets. The pilot program will roll out in phases, with the first phase involving participation from about 200 government employees and local merchants in Palau.

As part of this controlled stablecoin pilot, Palau will also leverage the Ripple CBDC Platform, an end-to-end solution for central banks to issue their own central bank digital currency, as well as the technical resources to make the PSC a digital representation of Palau’s official currency, the U.S. Dollar. The enhanced platform will now allow Palau to holistically manage and customize the entire life cycle of the stablecoin, including distribution and transactions. A stablecoin is a digital unit produced on a blockchain that maintains a fixed value.

In this case, each PSC would be valued at one U.S. Dollar guaranteed by a 1:1 reserve in fiat currency and issued on the XRPL. The operational model follows other reserve-backed private stablecoins, such as USDC or USDT, with a notable difference for the PSC with the involvement of the Republic of Palau’s Ministry of Finance (MOF). The MOF will supervise the system and trigger the issuance and redemption of stablecoin units, while always guaranteeing the 1:1 reserve.

“By digitizing our currency, we hope to mobilize our economy and government processes to improve financial transactions and empower our citizens. As a smaller country, Palau has the advantage to be innovative and nimble in releasing our stablecoin,” said President of the Republic of Palau, Surangel S. Whipps, Jr. “We trust in Ripple’s long-standing expertise in CBDCs and blockchain technology, as well as the carbon-neutral XRP Ledger to help create our national digital currency that will offer our citizens greater financial success,” the President added.

“Ripple is honored to work with the Republic of Palau on implementing their stablecoin to help Palau accelerate their business growth by providing a single source for producing and managing digital currency,” said James Wallis, VP of Central Bank Engagements for Ripple. “Palau is a Pacific Island nation comprising over 200 volcanic and coral islands, filled with unique wildlife and vegetation. Launching the Palau Stablecoin will help the island reduce their carbon footprint and their vulnerability to the impacts of climate change.”

During Phase One of the pilot program, Palau government employees who volunteered for the program will receive an allotment of PSC to be used for the pilot.

The Palau Stablecoin (PSC) will bring many advantages to its citizens, merchants and the government. These benefits include greater financial inclusion and reduced overall transaction fees for citizens. The PSC will also help reduce their currency costs, while considerably accelerating the speed of transactions.

To instill confidence for Palau citizens that the PSC is a secure and effective monetary tool that can support commercial activity in Palau, success criteria of Phase One of the controlled pilot should achieve the following:

· The Palau Ministry of Finance (MOF) are able to securely and reliably mint, distribute, and process inbound redemptions, and destroy PSC with full control over total circulation on a 24/7 real-time basis.

· Palau government employees are able to make purchases for goods and services at select retailers using the transfer of PSC at the point-of-sale as a means of payment.

· Palau retailers are able to safely and securely receive & verify payments made by individuals using the PSC, and are able to convert the received PSC to funds in their local bank account.

Following the success of Phase One of the pilot program, additional phases of the Palau stablecoin will be rolled out later in the year. To learn more about the Palau Stablecoin Project, refer to the FAQs posted online:

About the Republic of Palau’s Ministry of Finance

The Ministry of Finance of the Republic of Palau’s vision is to be widely recognized for sound financial management services that encourage accountability, continuous productivity of government services, and economic growth. The Ministry’s mission is to ensure accountability, continuous productivity of government services, and economic growth by promoting policies for, and sound management of, expenditures, revenues, financing, and human resources. Ultimately, the Ministry of Finance aims to serve the Republic of Palau with integrity and character with zero tolerance for fraud or corruption.

About Ripple

Ripple is the leader in enterprise blockchain and crypto solutions, transforming how the world moves, manages and tokenizes value. Ripple’s business solutions are faster, more transparent, and more cost effective - solving inefficiencies that have long defined the status quo. And together with partners and the larger developer community, we identify use cases where crypto technology will inspire new business models and create opportunity for more people. With every solution, we’re realizing a more sustainable global economy and planet - increasing access to inclusive and scalable financial systems while leveraging carbon neutral blockchain technology and a green digital asset, XRP. This is how we deliver on our mission to build crypto solutions for a world without economic borders.

About the XRP Ledger

The XRP Ledger (XRPL) is an open source, public and decentralized Layer 1 blockchain led by a global developer community. It is fast, energy-efficient, and reliable. For more than ten years, it has been the blockchain best suited to enable settlement and liquidity of tokenized assets at scale. With ease of development, low transaction costs, and a knowledgeable community, it provides developers with a strong open-source foundation for executing on the most demanding projects - without impacting the XRPL’s lean and efficient feature set. XRPL enables a wide variety of services and use cases including payments, decentralized finance, and tokenization. Learn more at XRPL.org.

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SAN JOSE, CALIF.--( / )--Lidar solutions provider Cepton Technologies, Inc. (“Cepton”) announced that it has secured an ADAS lidar series production award at a leading, Detroit-based global automotive OEM (“Detroit-based OEM”), which is the industry’s largest award to-date [1]. This represents a landmark milestone both for the lidar industry as well as for Silicon Valley-based Cepton, which celebrates its five-year anniversary this month.

The Detroit-based OEM is expected to deploy 토뱅 Thelidars in its next generation 레딧 of advanced driver assistance systems (ADAS) 마베이트 across multiple vehicle classes and models - not just luxury cars. This marks the potential for an industry-first, mass-market adoption of lidar technology for automotive ADAS, with an anticipated deployment in consumer vehicles starting in 2023.

Cepton secured this path-breaking, series production win in partnership with Koito Manufacturing Co., Ltd. 토뱅 Ceptona leading automotive lighting Tier 1 supplier that is both a Cepton partner and investor. 야인시대 With this partnership, Cepton has provided a non-exclusive license to Koito to manufacture a version of Cepton’s MMT®-based Vista®-X90 automotive grade lidar, using key components and technologies from Cepton. Substantial progress has been made in the Vista®-X90 product development over the past 18 months since the series production award.

The multiple OEM vehicle models already awarded as part of this series production program makes this win the largest in the industry to-date. The deployment of Cepton lidars in those vehicle models, as well as anticipated models to be added in the coming years at the Detroit-based OEM, is expected to significantly exceed that in any of the other publicly announced lidar series production programs. This is a testament to Cepton’s patented MMT® lidars, which utilize a rotation-free, mirrorless and frictionless technology that balances outstanding performance, high reliability and low cost, which are the three key factors integral to delivering mass-market ADAS lidar. Cepton’s MMT® lidars also feature a superior combination of compact size 운봉읍성인게임장 먹튀수사대 and low power consumption, which maximizes flexibility for vehicle integration, enabling various placement options such as in the fascia, in headlamps, on the roof and behind windshields. Cepton’s Vista®-X90 lidar consequently enables seamless and innovative vehicle-lidar integration.

“We are thrilled to work with an automotive OEM that is not just considered one of the global leaders in the industry but also a recognized pioneer and leader in ADAS and autonomous driving,” said 한지민눈 Cepton CEO and co-founder, Dr. Jun Pei. “We are honored to have been chosen to help fulfill their long-term vision for vehicle safety and autonomy. We are also gratified to partner with Koito and leverage their manufacturing and quality leadership in this 운봉읍성인게임장 오피싸롱 pathbreaking series production program, which I believe will set 떡치는밤 the standard for future ADAS lidar adoption.”

Dr. Pei added, “We founded Cepton in 2016 with an emphasis on ADAS and centered our lidar innovation around the 비아그라등 Dr.of making lidar an essential automotive safety sensor in everyday passenger cars. We are now focused on delivering a safer and more enjoyable driving experience to consumers within the next few years.”

About 19MALL Cepton

Cepton is one of the world’s leading providers of state-of-the-art, intelligent, lidar-based solutions for a range 전효성눈싸움 of markets such as automotive (ADAS/AV), smart cities, smart spaces and smart industrial applications. Cepton’s patented MMT®-based lidar technology 마루티비 Ceptonreliable, scalable and cost-effective solutions that deliver long range, high resolution 3D perception for smart applications.

Founded in 2016 and led by 운봉읍성인게임장 링크티비 industry veterans with over two decades of collective experience across a wide range of advanced lidar and imaging technologies, Cepton is focused on the mass market commercialization of high performance, high quality lidar solutions. Cepton is headquartered 신민아송중기 in San Jose, California, USA, with a presence in 강심장송중기 Germany, Canada, Japan and India, to serve a fast-growing global customer base. For more information, visit and follow us on Twitter and LinkedIn.

Forward-Looking 런닝맨송중기 Statements 토렌트코리아

Certain statements herein are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect Cepton’s current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including (i) the success of our strategic relationships, including with our Tier 1 partners and OEM customers, none of which are exclusive; (ii) fluctuations in 베이시스트 sales of Cepton’s major customers; (iii) current trends in the automotive markets. Cepton does 운봉읍성인게임장 써니표정 not undertake 소녀시대써니몸매 to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

[1] Largest known series 싸고넷 [1]award 써니움짤 by number of vehicle models awarded and based ADULTS on publicly available information

View source version on businesswire.com:Korea 말보로넷 Viewdistributes your news across 소원을말해봐태연머리색 운봉읍성인게임장 소원을말해봐태연머리색 every media channels through the industry’s largest press release distribution network