Ripple’s David Schwartz breaks down how ILP and Coil will change the face of payments

2019-6-9 03:30

David Schwartz, the CTO of Ripple explained the need for a complete restructuring of payments and how blockchain and purpose-built technology will help enforce it during ‘We are Developers’ conference in Berlin on June 8.

The way information flows in the present world is without friction and seamlessly, however, the same cannot be said for the payments; this is due to the lack of necessary developments in that sector and due to the presence of massive friction in the flow of payments, in the form of third party members, etc.

Bitcoin was brought to life for the sole purpose of improving payments and escaping the clutches of centralization, however, it has been a fairly obstacle-filled road for the king coin. Other cryptocurrencies like Bitcoin Cash or XRP are closer to achieving Bitcoin’s goal.

David Schwartz explained how Ripple is trying to solve the payments problem by improving cross-border payments via their blockchain-based products. Schwartz added that blockchains or cryptocurrencies have not solved payment problems but instead created “a newer sexier version of the same problems”, which was that the blockchains not communicating with each other.

Comparing the development of the Internet in the nascent stages and how most of it revolved around the I.L.P., Schwartz said that the same has to happen with blockchains and that no matter how many blockchains, they should be able to communicate with each other. Interledger Protocol helps blockchains do exactly that, said Schwartz.

“I don’t know what people are going to use micropayments for… you can make a $1000 payment with a large number of micropayments and there are tremendous advantages to doing things that way…So kind of the same things that we do with routing, multipath, and VPN, and you can do all of those things with money and ILP.”

In addition, Schwartz said that if his guess about micropayments was right, then there would be a massive revolution around how the money operates with software, which would open up multiple opportunities and multi-billion dollar industry around it.

The post Ripple’s David Schwartz breaks down how ILP and Coil will change the face of payments appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 1.1139 (+0.91%)
Объем 24H $6.713b
Изменеия 24h: 1.63 %, 7d: 53.01 %
Cегодня L: $1.0851 - H: $1.1536
Капитализация $63.414b Rank 6
Цена в час новости $ 0.397 (180.58%)

ripple payments david schwartz down ilp coil

Источник: ambcrypto.com

ripple payments → Результатов: 126


Why Unifying Payments Infrastructure Will Boost Financial Inclusion

The latest episode of Block Stars is the conclusion of current Ripple CTO David Schwartz’s two-part conversation with former Ripple CTO, Stefan Thomas. Stefan is now the founder and CEO of Coil, a Web Monetization service that streams payments to publishers and creators based on the amount of time Coil members around the world spend … Continued The post Why Unifying Payments Infrastructure Will Boost Financial Inclusion appeared first on Ripple.

2020-9-1 21:00


Ripple Partner InstaReM Now Powers Real-Time Remittance Payments for SBI Remit and Cosmoney Clients

Ripple partner InstaReM will now power real-time cross border payments for the clients of another Ripple partner SBI, as per the latest announcement. A leading global financial payments infrastructure, InstaReM first joined Ripple for Southeast Asia payouts via RippleNet at the beginning of last year. Now, the company is going to work with one of […]

2019-9-11 17:07


RippleNet Strengthens Emerging Markets Access into India, Brazil and China

According to the World Bank, global remittance payments are on track to grow by 3.4 percent or roughly $466 billion in 2018, with India and China having the highest incoming flows in 2017. Together with this massive flow of capital, emerging markets are home to 85 percent of the global population and account for almost … Continued The post RippleNet Strengthens Emerging Markets Access into India, Brazil and China appeared first on Ripple.

2018-6-17 12:50


Фото:

Ripple Hosts World’s Central Banks to Explore Next Generation of Payments

Image: Shutterstock Ripple recently gathered over two dozen central banks from around the world to explore how new technologies enable the next generation of payments. The Central Bank Summit on Blockchain, hosted at Carnegie Hall in New York City, gathered central banks’ senior leadership, payment strategy leads and oversight staff for a focused discussion on … Continued The post Ripple Hosts World’s Central Banks to Explore Next Generation of Payments appeared first on Ripple.

2018-6-17 12:50


Ripper: Banks can not apply to Blockchain for future cross-border loans in the future

Ripple chief cryptographer David Schwartz claims that banks are unlikely to deploy blockchain to process international payments, citing low scalability and privacy problems, Reuters reports June 13. In an interview with Reuters, Schwartz argued that despite the fact that banks acknowledge blockchain technology’s potential in reducing transaction times and costs, the technology is still not

2018-6-14 09:20


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Maker whale activity surges by 1400% - Time for MKR's price to break out?

Large transaction volumes for Maker rose by over 1,400% in just two days  Despite rising whale activity, technical indicators and on-chain metrics flashed mixed signals for MKR  Maker (MKRThe post Maker whale activity surges by 1400% - Time for MKR's price to break out? appeared first on AMBCrypto.

Is Ethereum set to outperform Bitcoin? Key data suggests...

Analysts predicted that Ethereum could outperform Bitcoin due to key indicators. Ethereum spot ETF inflows and ascending price channels indicated potential price targets up to $10,000. EtherThe post Is Ethereum set to outperform Bitcoin? Key data suggests... appeared first on AMBCrypto.

QNT's latest breakout can push altcoin's price to THIS level...

QNT's breakout from its descending trendline and bullish indicators signaled potential gains to $229 On-chain metrics and declining exchange reserves highlighted growing demand and reduced sellThe post QNT's latest breakout can push altcoin's price to THIS level... appeared first on AMBCrypto.

XRP's $1 at risk? As trading volume drops 77%, concerns rise

XRP's $1 milestone seemed uncertain, as daily active addresses declined significantly. Ripple's trading volume dropped from almost $3 billion to around $207 million. After months of consolidThe post XRP's $1 at risk? As trading volume drops 77%, concerns rise appeared first on AMBCrypto.

NEAR rallies 12% in 7 days: Is $8 on the cards?

NEAR traded at $5.79 at press time, gaining 12% in seven days with $712M daily trading volume and $7B market cap. Futures Open Interest dropped 5% while TVL hit $260M, signaling steady ecosysteThe post NEAR rallies 12% in 7 days: Is $8 on the cards? appeared first on AMBCrypto.

TRON's USDT dominance - Here's what that means for TRX's price

TRX recorded gains of over 26.17% in the last 30 days TRON's USDT weekly volume surpassed 150 billion - A sign of strong adoption TRON, at the time of writing, was valued at $0.1986 with a mThe post TRON's USDT dominance - Here's what that means for TRX's price appeared first on AMBCrypto.

CVX crypto soars 20% in 24 hours - Is $5 the next target?

CVX crypto pumped 83% on the 19th of November; will the uptrend continue?  A notable whale could have triggered the wild upswing, per an analytics firm.  Convex Finance’s native token, CThe post CVX crypto soars 20% in 24 hours - Is $5 the next target? appeared first on AMBCrypto.