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Existing payment networks (left-over question from the workshop)

From: Evan Schwartz <evan@ripple.com>
Date: Tue, 1 Mar 2016 14:44:35 -0500
Message-ID: <CAONA2jW=J_xnRmGKL=cNoESyG6DAMuRGsWgmskDZZgu2upq7UA@mail.gmail.com>
To: Interledger Community Group <public-interledger@w3.org>
> So this is the consumer level demo right? (referring to blue/red ledger
> demo)
> How do you envision the payment networks (Visa/MC) fitting into this
> ledger system?

ILP could either be seen as a way to build bridges between payment
networks, or as the foundation for new payment networks. I think the main
challenges with bridging networks like Visa or MasterCard would be first
getting them to buy in, and then if they did so, figuring out how a
connector could safely bridge their respective sets of rules. If ILP were
used to create new payment networks with distinct rules, existing networks
could "join" by becoming ledgers/connectors (that would have a relatively
large head-start with regard to users and liquidity).

Evan Schwartz | Software Architect | Ripple
[image: ripple.com] <http://ripple.com>
Received on Tuesday, 1 March 2016 19:45:23 UTC

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