In a recent tweet, Ripple CTO David Schwartz clarifies the clawback feature of the XRP Ledger (XRPL). This feature has remained a topic of ongoing discussion within the XRP community, and Schwartz’s insights have clarified its significance and how it functions.
According to Schwartz, the main goal of the clawback feature is to address situations where the ledger is inaccurate. Furthermore, he noted that the ledger is fundamentally wrong if a digital asset signifies a legal obligation, but the legal system determines that the obligation doesn’t exist
Responding to a discussion on X regarding the core purpose of the clawback feature, Schwartz explained:
The main reason for clawback is to fix cases where the ledger is literally incorrect. If a digital asset represents a legal obligation and the token says the legal obligation exists where the legal system says it doesn’t, the ledger is *wrong*.
Clawback is an optional feature that lets issuers recover distributed stablecoins, often for regulatory reasons. For instance, the issuer can claw back the funds if tokens are sent to a sanctioned account.
New chapter of collaboration within the XRP Ledger community
A new era of partnership starts within the XRP Ledger community. RippleX recently tweeted about evolving the XRPL Foundation to serve the community’s needs better
XRPL Commons, XRPL Labs, the current XRPL Foundation, Ripple, and other XRP community members recently met to explore developing an inclusive, more effective, and visible XRP Ledger Foundation and the path to achieving that goal.
The new foundation aims to ensure long-term security, growth, and effective, decentralized contributions to the XRPL. A key outcome of these discussions is transferring essential XRPL Foundation assets to the new independent foundation. This will feature a governance structure representing the entire XRP Ledger community.
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