XRP Ledger retries upgrade that lets banks split payment and compliance duties

XRP Ledger is making a second attempt to introduce PermissionDelegationV1_1. The upgrade would let banks split payment and compliance duties through delegated account permissions. The revised version fixes a flaw that could have allowed attackers to drain victims' XRP balances through unauthorized transaction fees. The upgrade entered a 14-day activation countdown on Sept. 21 after 29 of the network's 35 trusted validators backed it. It could go live on Oct. 5 at 11:18 UTC if support remains at or above 80% throughout the period. At least 28 validators must continue supporting the upgrade. Any drop below that level resets the clock. An account could let another account make payments on its behalf without handing over keys that control everything else. An account could also let another account approve customers on its behalf. A stablecoin issuer could let an internet-connected compliance system approve customer accounts to hold its token. The issuer could keep the keys with full control offline. A separate operations account could receive permission to make payments. It would not gain the power to change those keys or grant authority to another account. Each delegate can receive as many as 10 permissions. The main account can later change or revoke each permission.