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Re: How do bank payments actually work?

From: Audrius Ramoska <ramoska.audrius@gmail.com>
Date: Thu, 21 Jan 2016 10:30:01 +0000
Message-ID: <CANmReyBS9O1wN9pmnf9BsPAWoN6rtrhvpZBoDhwD0iaH5aH1Kg@mail.gmail.com>
To: Melvin Carvalho <melvincarvalho@gmail.com>
Cc: Interledger Community Group <public-interledger@w3.org>, Web Payments <public-webpayments@w3.org>
Hello Melvin,

I am curious what is the reason to simulate existing payment system and to
play with it?

ILP we started to work have key advantages comparing to existing inter
ledger payments.
Dedicated intermediate company, secure communication channels between banks
and intermediate company, dedicated funds allocation... all that and more
are disadvantages comparing to ILP we are working on. Inter country payment
with such one intermediate company/solution become more complicated.
In some countries business (not bank) could buy something like payment
processing license. In such cases one intermediate company services loses
advantages, payment environment for end customer become more complicated
despite that competition pushing service price down.
Distributed ILP approach at certain level solve all these problems.

Regards,
Audrius

On 20 January 2016 at 23:03, Melvin Carvalho <melvincarvalho@gmail.com>
wrote:

> Interesting post on the inter ledger element of banking.
>
> https://getmondo.co.uk/blog/2016/01/20/how-do-bank-payments-work/
>
> Im thinking of simulating this on a testnet for people to play around
>
Received on Thursday, 21 January 2016 18:45:39 UTC

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