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In a recent tweet, Ripple President Monica Long revealed plans for a new independent XRP Ledger Foundation. This comes as XRP Ledger Foundation, which supports the growth and development of XRP Ledger, has now been renamed as Inclusive Financial Technology Foundation (INFTF).
Ripple's president had responded to an XRP Ledger community member who had inquired if there may be plans to end the "XRP Ledger Foundation" in the wake of the transition.
The XRP Ledger community member also sought to know Ripple's plans to support XRP Ledger and the steps being taken to ensure the continued stability, innovation and decentralization of XRPL.
In this regard, the Ripple president, echoing Ripple CTO statements on the matter, clarified that there are current discussions with the XRP Ledger Foundation itself, XRPL Labs, XRPL Commons, Ripple and others about a new and independent XRPL Foundation entirely different from the new INFTF entity.
Tomiwabold OlajideIn response, Ripple CTO David Schwartz stated that Ripple has been in conversation with the XRP Ledger entity to discuss the best path forward for a foundation to serve the interests of XRP Ledger and community, adding that they are aligned on the next steps, and specifics will be shared as soon as possible.
XRP Ledger Foundation rebrands to INFTF
In an Aug. 6 announcement, XRP Ledger Foundation announced its renaming to INFTF — a backronym for Inclusive Financial Technology Foundation (legally InFTF MTU).
The reason for the change was stated: "As we get deeper into the execution of our goals, it has become apparent to us that being tied to any one technology is restrictive. Very often there could be a solution that is completely outside of what is expected from an organisation known as The XRP Ledger Foundation."
The XRP Ledger Foundation stated that it has been working with several international organizations over the last year to promote global social and financial inclusion. For example, it is presently an associate member of the Organisation for Southern Cooperation, which has 28 member countries.
This change, according to the XRPLF, now presents an opportunity for various XRP Ledger stakeholders to come together to maintain the things that the Foundation is currently a custodian of: the XRP trademark, the Code Repository and the xrpl.org domain.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team