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Re: Regulatory Considerations running an ILP node (Re: [Ledger] Bootstrapping Interledger)

From: Paul Frazee <pfrazee@gmail.com>
Date: Thu, 10 Nov 2016 17:35:14 -0600
Message-ID: <CAD4FMejizdEdPv-uyAYkA8MccuU9gsh8kECbEHghWHs=u-8VWg@mail.gmail.com>
To: Ken Griffith <kengriffith@gmail.com>
Cc: Interledger Community Group <public-interledger@w3.org>
>  That is the fundamental weakness of an open system like Interledger. The
regulators will never allow a regulated node to connect to the unregulated
nodes.

Does ILP need a low barrier to connector participation to succeed?

Desktop devs like myself need a way to handle payments without tying into
specific providers (paypal, stripe).
I'm hoping there's enough end-user demand that the incentives for a
connector exceed the regulatory costs.


On Thu, Nov 10, 2016 at 5:08 PM, Ken Griffith <kengriffith@gmail.com> wrote:

> > The value being traded exists somewhere at all times and its location
> > and owner must be known at every step in the transaction.
>
> That is the fundamental weakness of an open system like Interledger. The
> regulators will never allow a regulated node to connect to the unregulated
> nodes.  Maybe in 50 years this will be possible.  But the world we live in
> today is bogged down with AML rules.
>
>
Received on Thursday, 10 November 2016 23:36:26 UTC

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