The XRP ledger (XRPL) is constantly in development, with new versions added to address issues or implement new features. As new features are added, in XRPL terms, amendments, they are put out for voting amongst validators on the network, and if there is an 80% majority vote for two continuous weeks, the amendment is activated.
Many features have found their way to the XRPL this way in the past, such as Escrow, the feature Ripple has used to lock up 55 billion XRP with monthly releases, and DeletableAccounts that makes it possible to delete accounts.
One of the amendments, that has been around for a long time, but has not yet reached majority vote, is Checks. Introduced with the 0.9.0 release in February 2018, it might finally see the light of day, as a UNL validator removed a veto, bringing it only one vote away from the majority:
A Compliance Move
The Checks amendment is an implementation similar to the paper checks and works with both XRP and any other issued currency on the XRPL, and let users of the network exchange funds asynchronously – a process familiar to and accepted by the financial industry.
As an example, accounts can choose to strictly reject any incoming funds from transactions sent by unauthorized accounts, but use Checks as an easy way to accept payments and choose to claim or reject at their discretion. This can help in compliance where an entity needs to know the source of funds received.