Re: [value web] Blog Post: Building the Value Web with Open Standards

Patrick,

I very much agree about the promising collaboration this group represents!

I edited that sentence to make it "existing and future payment systems".

My point there was not to claim that the group is focused exclusively on
incumbent systems. Rather, the line I'd draw is between:

   1. having a layer of abstraction that sits above all existing and future
   payment systems and accommodates whatever disparate APIs and formats they
   use, or
   2. working on a standard that would need to be adopted by payment
   systems themselves to standardize the APIs and formats developers and users
   use to interact with them, and to enable a new kind of funds settlement
   over the web


On Tue, Apr 28, 2015 at 8:06 PM, Adler, Patrick <patrick.adler@chi.frb.org>
wrote:

>  Hi Evan,
>
>  Thanks for sharing this. I think it highlights the incredible benefit
> that interoperability of payment networks and formats can bring. It also
> showcases the unique role that open web-based standards can play in helping
> to achieve the “Internet/Web of Value”. In reading, and reflecting on your
> post, I would submit that the primary focus of the IG’s work has not been "to
> build an abstraction layer on top of the existing payment systems”, but
> rather to build an abstraction layer which promotes open web based
> standards for ALL payment systems – both existing and emerging.  The work
> and the vision that the IG has undertaken has to work as well for
> inter-network payments as it does  for closed-loop payments networks – just
> as existing web standards can work on public and private networks alike.
> One of the most inspiring things about the IG to me, is that it has so many
> different perspectives from so many different kinds of organizations who
> are all coming together to help define and craft these important
> standards.  We have some of the best and the brightest from merchants,
> technology companies, banks, telecom companies, security firms, digital
> currency and smart contracts companies, credit card companies, mobile
> wallet providers, and many others – all coming together in a collaborative
> way that helps to pave the way for making payments better for everyone.
> I’m proud to be part of such a talented group of people and am looking
> forward to seeing what we can build together!
>
>  Best regards,
>
>  Pat
>
>   From: Evan Schwartz <evan@ripple.com>
> Date: Tuesday, April 28, 2015 at 10:11 AM
> To: Web Payments IG <public-webpayments-ig@w3.org>
> Subject: [value web] Blog Post: Building the Value Web with Open Standards
> Resent-From: <public-webpayments-ig@w3.org>
> Resent-Date: Tuesday, April 28, 2015 at 10:11 AM
>
>   I wrote a blog post about the idea of the Value Web and the types of
> standards I think we need to realize that vision:
>
>
> http://www.w3.org/blog/wpig/2015/04/28/building-the-value-web-with-open-standards/
>
> Comments and questions are more than welcome! Also let us know if you're
> interested in getting involved in the Value Web task force.
>
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>



-- 
Evan Schwartz | Software Engineer | Ripple Labs
[image: ripple.com] <http://ripple.com>