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Re: How do bank payments actually work?

From: Jehan Tremback <jehan.tremback@gmail.com>
Date: Thu, 21 Jan 2016 11:06:17 -0800
Message-ID: <CABG_PfTXXXHisJg_D0G+gkgy4csXHmEP=B13xiVQuK5eUvoQ4A@mail.gmail.com>
To: Audrius Ramoska <ramoska.audrius@gmail.com>
Cc: Melvin Carvalho <melvincarvalho@gmail.com>, Interledger Community Group <public-interledger@w3.org>, Web Payments <public-webpayments@w3.org>
ILP has these advantages in theory. A testnet shows us how this stuff works
in practice. Not a bad thing to learn about.


On Thu, Jan 21, 2016 at 2:30 AM, Audrius Ramoska <ramoska.audrius@gmail.com>

> 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
> <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 19:06:46 UTC

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