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Re: Will ILP go live on October 1?

From: Christopher Bartley <morelazers@gmail.com>
Date: Fri, 16 Sep 2016 10:13:27 -0700
Message-ID: <CAFcSfa_jcAE4pjL=TKDLkYmT-iBbUyWV5ZLx9-vJ4+KEXq5MWg@mail.gmail.com>
To: Roger Bass <roger@traxiant.com>
Cc: win than aung <winthan@chomeaye.com>, Daniel Bateman <7daniel77@gmail.com>, Interledger Community Group <public-interledger@w3.org>, Stefan Thomas <stefan@ripple.com>
Sorry to chime in out of place but I think that this post by a Ripple
employee may help to clarify (
http://www.xrpchat.com/topic/1991-a-big-update/?do=findComment&comment=18189)
My understanding is that ILP among the banks is not RCL-enabled and serves
as an internal subledger for each bank to escrow funds prior to transfer.
Because the transactions are not submitted to RCL they are private and do
not appear on the public ledger. My understanding is that the publicly
announced banks are already using it to transfer fiat or will be will be
very soon. Deploying ILP privately will allow them to integrate with other
private networks or public ledgers should they chose, but for now it's
effectively a private and permissioned ledger using ILP within network.

I'd still appreciate a response from Stephan and Adrian, especially if I'm
way off here.

Best,

Chris

Sent from Das Fone

On Sep 16, 2016 10:01 AM, "Roger Bass" <roger@traxiant.com> wrote:

> Stefan or Adrian:
>
> are you able to say publicly which banks will be moving transactions over
> ILP come October 1?
>
> Presumably, this means that a version of Ripple Connect with ILP as a
> "protocol switch" is already shipped and deployed to those banks, right?
>
> Best,
> Roger
>
>
> On Thu, Sep 15, 2016 at 8:21 PM, Daniel Bateman <7daniel77@gmail.com>
> wrote:
>
>> Thank you for this clarification Stefan.
>>
>> Is this information published on the Ripple website and/or Ripple wiki?
>> If not, may I ask why not?
>>
>> Best,
>> Daniel
>>
>> On Sep 15, 2016 7:05 PM, "Stefan Thomas" <stefan@ripple.com> wrote:
>>
>>> What the article is referring to is that Ripple's bank customers will be
>>> moving real money through ILP-powered Ripple products starting Oct 1st.
>>>
>>> Note that we were developing ILP internally for some time before we
>>> decided that it should become open standard and released the white paper.
>>> For now the commercial implementation of ILP inside of Ripple products and
>>> the open-source work happening in this group are pretty separate. We're
>>> getting really good ideas and feedback from the banks using ILP and that
>>> feeds back into the community group work. And of course the end goal is to
>>> have it all interconnect some day.
>>>
>>> It'll take quite some time (and a lot of community traction) before the
>>> banks would even consider connecting to a public Interledger. Hence the
>>> importance of the work this group is doing that's unrelated to Ripple. For
>>> it to be a true standard there has to be lots of activity around it that
>>> isn't directly tied to us or our customers.
>>>
>>> On Thu, Sep 15, 2016 at 2:22 PM, win than aung <winthan@chomeaye.com>
>>> wrote:
>>>
>>>> Hi guys,
>>>>
>>>> I just saw this news - http://www.afr.com/technolog
>>>> y/nab-westpac-part-of-ripples-new-global-payments-network-20
>>>> 160915-grgz81
>>>>
>>>> Ripple has created Ripple Connect, new technology to allow banks to
>>>>> talk to each other, and is developing its "interledger protocol", which
>>>>> will go live on October 1 and provide the foundation for banks to directly
>>>>> connect their ledgers with each other without an intermediary.
>>>>
>>>>
>>>> Is that ready to go live on Oct 1? Which ledgers are going to try out
>>>> at live on Oct 1? Gatehub? any hints?
>>>>
>>>> Thanks,
>>>> Winthan
>>>>
>>>
>>>
>
Received on Monday, 19 September 2016 15:24:56 UTC

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