The Interledger Protocol
interledger.org
interledger.org
Our goal as a community is still to get there but this is going to take longer. Happy to answer any questions you have
Here's a non-profit to save the world we started. Everyone just needs to buy XRP, and the world will be saved, isn't that amazing? "
[1] https://interledger.org/developer-tools/get-started/overview...: "Using Interledger, you can send XRP to someone who wants to receive ETH, or you can send USD to someone who wants to receive EUR."
[2] https://www.sec.gov/news/press-release/2020-338: "According to the SEC's complaint, Ripple; Christian Larsen, the company's co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company's current CEO, raised capital to finance the company's business. The complaint alleges that Ripple raised funds, beginning in 2013, through the sale of digital assets known as XRP in an unregistered securities offering to investors in the U.S. and worldwide. Ripple also allegedly distributed billions of XRP in exchange for non-cash consideration, such as labor and market-making services. According to the complaint, in addition to structuring and promoting the XRP sales used to finance the company's business, Larsen and Garlinghouse also effected personal unregistered sales of XRP totaling approximately $600 million. The complaint alleges that the defendants failed to register their offers and sales of XRP or satisfy any exemption from registration, in violation of the registration provisions of the federal securities laws."
[3] https://interledger.org/about-us/: "Chris Larsen, Chairperson of Ripple"
Its no secret that Interledger came out as a research project at Ripple, so examples like this our bound to still be in documentation/marketing. But just as XRP is listed, so is ETH, Dollars and Euros. Interledger is a payment clearing protocol where counter parties can settle there positions however they see fit.
DISCLAIMER: I am speaking in my own capacity and must note, I don't know Chris personally and have never spoken to him. These are my own opinions.
* why Interledger has a co-founder of Ripple (Chris/Christian Larsen, who was sued by the SEC in December 2020)[2] on its board of directors*
As stated, Interledger came out of research at Ripple. I believe he serves on the board because he deeply believes in Interledger mission and vision. Which is to create a more fair and open payments system for the world. Yes there is an ongoing case, but our justice system is based on the presumption of innocence. And baring any finality in the case that is how it should be treated.
Commoner thanks for engaging and please do keep engaging, but I want you to know that there is no ulterior motive here. We are honestly just a community of people who are trying to solve a problem. Which is digital payments are still difficult and not affordable for a large number of people.
Show me meaningful usage of blockchain/public ledgers, then show me a scenario where you need to bind something between two ledgers.
All this software built is like a Minecraft theme park trying to sell tickets to real people to go on virtual rollercoasters.
I'm sorry you read the site and came away with that impression but that is not that case. Interledger is completely agnostic to underlying ledger technologies. It is a payments clearing protocol between participants. Can you please tell me why you believe that to be your impression?
Show me meaningful usage of blockchain/public ledgers, then show me a scenario where you need to bind something between two ledgers.
Again Interledger does not just connect public ledgers. Interledger is a clearing protocol between any system. Do you send payments via ACH, SEPA? Pay with goods with a credit card, Visa or Mastercard? All these use payments clearing protocols. Interledger competes with these technologies in an open and federated manner.
All this software built is like a Minecraft theme park trying to sell tickets to real people to go on virtual rollercoasters. Sell them what exactly? Interledger doesn't have a token or anything to sell people. It is just a technology, much as HTTP and IP.
I would love to engage more, so please feel free to answer and ask questions. Our goal as a community is to foster a more fair and open payments ecosystem for the world.
Secondly it’s a matter of access. Most domestic RTP systems are closed to banks. We want to open up to all account holding institutions, whether it’s banks, digital wallets, mobile money or potentially non custodial wallets.
Lastly we want to standardise the APIs so that applications can start building on top of your account. We see a world where you don’t need embedded finance. I should be able to use my current financial account everywhere. Whether that’s in Twitter to send a tip or on shoplift to receive payments directly to my account.
I feel that it was a mistake for representatives of Mozilla and these other organizations to endorse the Interledger Foundation. Coinbase has been restricting XRP from being bought, sold, or traded ever since the SEC sued Ripple Labs just over a year ago.[2]
[1] https://interledger.org/about-us/
[2] https://help.coinbase.com/en/coinbase/getting-started/crypto...
The ultimate goal is to allow disparate account holding institutions ( banks, digital wallets, crypto wallets etc) to have an interoperable mechanism for clearing payments between each other. Settlement between these parties is for them to decide.
The next goal for us to to enable a layer on top of Interledger to create an effective global open banking spec, which is called Open Payments[0]. Just a side note, with a backbone of ILP there is many applications that could potentially be built on top. As ILP has decided to take a layered approach to the stack, similar to the internet.
Replying on my phone but happy to answer any questions
[0] openpayments.dev