The Bank for International Settlements (BIS) tested XRP Ledger (XRPL) as a public verification layer to check whether economic statistics data have been tampered with.

On Sept. 2 local time, blockchain media outlet U.Today reported that BIS built a proof-of-concept system that records fingerprint information for official statistics datasets on a blockchain to verify whether distributed files are identical to the original.

The experiment focused on the question of how users can confirm that a file they download is the same as what the issuing institution published, in an environment where official statistics files are distributed through digital platforms and consumed by automated systems including artificial intelligence tools. BIS noted that SDMx, an official statistics exchange standard, supports publishing and distribution of data, but pointed to concerns about how stated sources are provided.

BIS proposed a structure that does not upload the dataset itself but separately leaves information that serves as the dataset’s fingerprint. The system records the dataset’s root value on XRP Ledger and then checks for changes by comparing it with the fingerprint of a file a user receives. BIS explained that a blockchain stores the cryptographic information needed for verification.

The implementation was also relatively specific. BIS conducted an actual proof of concept on XRPL’s devnet and recorded the root value through the memo field of a payment transaction. The design was based on XRP Ledger’s low transaction costs and fast finality. BIS said the system was designed to match low transaction costs and fast confirmation times.

The test results were also disclosed. In a controlled test environment, the prototype showed a median publication latency of about 3 to 5 seconds. Verification took about 1 to 2 seconds. That means the original status could be confirmed within a short time after official statistics were distributed.

The scope was not limited to SDMx. The developers said the current structure was built around SDMx but could be expanded to other structured reporting formats including XBRL. This leaves room to broaden the target beyond economic statistics to structured reporting data more broadly.

BIS also drew a line, saying the results should not be taken as an announcement of an official adoption. The experiment is a proof-of-concept stage. BIS documents described it as a case of an "actual proof of concept" but distinguished it from any announcement meaning institutional application or an operational transition.

The experiment is also drawing attention in discussions around uses of XRP Ledger. XRP Ledger has been among networks that have faced criticism for a lack of real-world use, and BIS’s test remains a rare case of linking a public blockchain to verification of official statistics. For now, performance was confirmed only in a limited environment, so further review is needed on whether it will be applied to actual institutional systems.