Ripple Labs has created a lot of interest in blockchain technology with its Interledger Protocol (ILP), including from Apple and Google, according to the International Business Times . The ILP could be bringing the technology to more widespread use. Ripple serves as co-chair of W3C’s Web Payments Working Group, putting the company in regular contact with technology providers. Stefan Thomas, Ripple’s chief technology officer, said Apple, Google, Mozilla and other players are seeking a better user experience for web payments, considering the issues they face relying on card networks. Tech Players Hate Card Issuers The Interledger Protocol offers these technology players a good solution to the issues that card networks entail. Thomas said the big tech players “absolutely hate” the card issuers since they have to share market power with them. Most of the technology players’ angst is directed at Visa, Thomas said, whose Visa Checkout currently competes directly with PayPal , Worldpay and other user-facing systems. What the tech players lack, Thomas said, is a way to interoperate with one another. This is the capability that Visa brings. But having a protocol to give the technology players interoperability will unleash “complete hell” on Visa, he said. Interledger’s goal is to create a financial network to interconnect cryptocurrencies by the end of 2016 or early in 2017, he said. Connecting cryptocurrencies is ILP’s providing ground. Cryptoc Integration By Year’s End Ripple will have a solid integration with all major cryptocurrencies by the end of 2016, he said, with some “real money” moving through it between different cryptocurrencies. This will be the signal that the tech players are waiting for to take their next step. At that point, there could be some adoption from these players. Vitalik Buterin, Ethereum’s inventor, previously noted he received interest in blockchain technology from nearly […]
