Re: Interledger Payments Community Group

On 6 October 2015 at 16:29, Adrian Hope-Bailie <adrian@hopebailie.com <mailto:adrian@hopebailie.com>> wrote:
Hi all,

Today I proposed the formation of the Interledger Payments Community Group:
https://www.w3.org/community/blog/2015/10/06/proposed-group-interledger-payments-community-group/ <https://www.w3.org/community/blog/2015/10/06/proposed-group-interledger-payments-community-group/>

This is an evolution of the work that began at the face to face meeting of the Web Payments IG in New York when we discussed the idea of Web Settlement.

Excellent.  This is exactly what I would call decentralized payments.


In the time since June we have taken the feedback provided and put together a comprehensive technical whitepaper that proposes a neutral and open protocol for asset transfer over the Web.

The goal is simple, connecting existing and emerging payment networks (ledgers) using a protocol that would allow payments to be made from any entity to any other entity irrespective of the payment instrument or account the sender and receiver hold.

As an example, imagine Alice wishes to send money to Bob but Alice wants to use her credit card and Bob wants to accept Bitcoin. The Interledger Protocol proposes a way to achieve this using a competitive marketplace of counterparties such that Alice can easily find the best way to charge her credit card and for Bob to receive his Bitcoins without either being at risk of losing their money.

There is a lot of work to be done to discuss this proposal and begin developing the standards necessary to realize it. I believe that the right forum for this will be the Interledger Payments Community Group so I invite you to support the group and sign-up as a participant.

More information on the whitepaper and the problem are on http://interledger.org
 <http://interledger.org/>
Adrian