Blockchain-Based Secure Communications for Metaverse Library Cross-Border Payments: A Review

The metaverse library is a kind of virtual library that can be accessed by users throughout the world. While cross-border payments represent the globalization of trade and finance and are regarded as a powerful tool for promoting financial inclusion, it is important to focus on the security issues of cross-border payments in metaverse libraries. Ripple incorporates blockchain technology into the XRP Ledger to enhance the efficiency of funds transfers. The purpose of this report is to explore the issues of the current metaverse library cross-border payment systems and evaluate the usefulness of XRP in comparison to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the current most popular inter-bank fund transfer system. This paper concludes that traditional metaverse library cross-border payments lack a streamlined, automated, and transparent system, which XRP could tackle through its high scalability, interoperability, and sound mechanisms. Nevertheless, due to concerns over decentralization and regulatory challenges, further development is needed for XRP to truly revolutionize the field. Taking the metaverse library as an application instance, this paper reviews the traditional and modern cross-border payments based on blockchains. Secure communication techniques are focused. Possible future research directions about secure communications in metaverse libraries are also presented.