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Re: How do bank payments actually work?

From: Stefan Thomas <stefan@ripple.com>
Date: Fri, 22 Jan 2016 19:51:52 -0800
Message-ID: <CAFpK0Q0D-7FGBkMuYzwE8qj=AX_3TUfH_rG9P-AJMi32StekpA@mail.gmail.com>
To: Jehan Tremback <jehan.tremback@gmail.com>
Cc: Audrius Ramoska <ramoska.audrius@gmail.com>, Melvin Carvalho <melvincarvalho@gmail.com>, Interledger Community Group <public-interledger@w3.org>, Web Payments <public-webpayments@w3.org>
We're working on a public ILP-enabled test ledger instance for this group
to play with. We just deployed the first version and are testing it
internally. Give us some time to work through a first round of feedback,
but we're excited to share it with you all soon.

On Thu, Jan 21, 2016 at 11:06 AM, Jehan Tremback <jehan.tremback@gmail.com>
wrote:

> ILP has these advantages in theory. A testnet shows us how this stuff
> works in practice. Not a bad thing to learn about.
>
> -Jehan
>
> On Thu, Jan 21, 2016 at 2:30 AM, Audrius Ramoska <
> ramoska.audrius@gmail.com> wrote:
>
>> 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 Saturday, 23 January 2016 03:52:42 UTC

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