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Interledger brings key currency-ization of XRP. Interledger appears to immediately integrate XRP.


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Creating the standard, and standardisation, create monopolistic situations for the companies that introduce the standardisation.  It has been clear for some while that Ripple understood this and have been implementing a strategy to make their technology the foundation of the "internet of Value".

Concerning what you have written, I get you drift even if I do not understand the detail.  The Ripple project gets more exciting by the day and the cost of entry cheaper, how lucky we are to have stumbled on this before the institutions start investing.

 

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This is fantastic, but I feel the need to point out that this doesn't mean XRP has "won the cryptocurrency war" or will absolutely be the default payment method.  It just means that the 3 letters used to refer to our favorite digital asset fit within the ISO guidelines, while the 3 letters chosen for most others (BTC, for example) do not.  If those currencies update their 3 letter designations to start with an X indicating that they are from no particular country, it seems to me that they will immediately be accepted into this system and able to be used.  Even without changes, "Efforts are underway at ISO to account for digital currencies, which may result in an update to the [ISO4217] registry or an entirely new registry.  The community expects this will resolve ambiguities that have crept in through the use of non-standard 3-letter codes..." (taken from the imgur link in the OP).  It sounds to me like this means once they work out the kinks you can pay for anything with any currency you choose.

That said, if the framework for using any currency you want is going to start being built into things going forward (as seems evident by the list of names getting onboard with this project), companies are going to incentivize people to use the cheapest method for them.  Which option is easily interchangeable for just about any currency in the world and has extraordinarily low fees?  hmmm...

Edited by Liagala
wording
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59 minutes ago, Liagala said:

This is fantastic, but I feel the need to point out that this doesn't mean XRP has "won the cryptocurrency war" or will absolutely be the default payment method.  It just means that the 3 letters used to refer to our favorite digital asset fit within the ISO guidelines, while the 3 letters chosen for most others (BTC, for example) do not.  If those currencies update their 3 letter designations to start with an X indicating that they are from no particular country, it seems to me that they will immediately be accepted into this system and able to be used.  Even without changes, "Efforts are underway at ISO to account for digital currencies, which may result in an update to the [ISO4217] registry or an entirely new registry.  The community expects this will resolve ambiguities that have crept in through the use of non-standard 3-letter codes..." (taken from the imgur link in the OP).  It sounds to me like this means once they work out the kinks you can pay for anything with any currency you choose.

That said, if the framework for using any currency you want is going to start being built into things going forward (as seems evident by the list of names getting onboard with this project), companies are going to incentivize people to use the cheapest method for them.  Which option is easily interchangeable for just about any currency in the world and has extraordinarily low fees?  hmmm...

You will probably also be able to pay various fiat currencies and cryptocurrencies.It may include electronic money, points, miles.If more fiat currency and cryptocurrency mediate XRP, XRP is easiest to use and XRP would be the most efficient currency.It will  become the default payment currency in actual real demand.

 

Edited by hamasugu
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2 hours ago, hamasugu said:

The interledger has been standardized to the API of the web browser
You will be able to pay with XRP with interledger with one click
XRP will soon be expanding to real world if it becomes web standard. 

https://www.w3.org/TR/payment-request/
”XRP”  are coming out in the document updated on June 7, 2018
You can see that XRP payment is assumed
https://imgur.com/a/kgweNv6

Settlement using Payment Request API will be mainstream in the future.
Interledger will be used on this backside.
It also uses Microsoft, Google, Apple, and Facebook.

This is the demo of Microsoft and Google's Payment Request API, the operation is the same but the purchase procedure is unified like this.
Even without preparing a shopping cart, you can purchase it by API call.

Microsoft Payment Request API Demo
https://www.youtube.com/watch?v=uccDswZXUPk

Google 
https://www.youtube.com/watch?v=hmqZxP6iTpo

Ripple's interledger is used behind these APIs.

You will probably also be able to pay various cryptocurrencies.

If you are going to buy in cryptocurrency that shopping site don't support, XRP will become bridge currency and you will be able to exchange it for purchase.

Then in the network of Fiat currency and virtual currency payment, XRP will become the key currency gradually.


Do you know the meaning of this web standardization?
And if XRP becomes the base currency, the usage of XRP will increase.
As the usage of XRP increases, services that can be settled by XRP will also increase.
And the demand of XRP explodes.

interledger brings key currency-ization of XRP.

This would mean that the interledger protocol is used behind the payment request API adopted by Microsoft, Google, Apple, and Facebook.

Demand generating of XRP is ready. 

The Payment Request API is made as an open standard specification and is supported by many browsers.
Supported browsers are: Chrome for Android, Chrome for iOS, Chrome for desktop (Mac, Windows, Linux)
Microsoft Edge, Samsung Internet Browser, Apple Safari

That is, ILP is already secretly hidden in almost all browsers on the pretext of standardization. 

The Japanese bank consortium is coming, but the interledger is already being used in the world's banks.
The application of Santander Bank is already using interledger. It's not a distant future.
https://www.youtube.com/watch?v=oEIf9W3GOYA

YES.

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16 minutes ago, jag216 said:

Minor point: XBT is already in use in exchanges for BTC.

Good point.  It's not a thing you see often, but it does exist.

37 minutes ago, hamasugu said:

points, miles

You know... all this talk about interoperability, and yet this sort of thing never crossed my mind.  It's amazing how much I can learn about the possibilities for the future, and then get hit with something that reminds me I've still barely scratched the surface.

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Web standardization is not limited to the Internet, and it is not only in the financial industry.?It's related in all industry.

In other words, it is "internet of value".

Development is advancing quietly quietly at place the general public can't sense.
We have a big possibility in our hands.

Swift doesn’t have cryptocurrency ,so banks cannot reduce the Nostro account funds.

On the other hand Ripple has cryptocurrency and web standards.

I think the synergistic effect of these both totals would swallow Swift.

Ripple plans for efficiency of bank and all enterprises.

Edited by hamasugu
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3 hours ago, Spartaksus said:

Do you think this will replace traditional acquirers like Global Payments, Elavon etc and instead of them Google, Microsoft or Apple enter into acquiring business?

Web standard is Web related standards recommended by W3C organization. Browsers such as Internet Explorer are designed based on this standard, and it is very important for the development company to produce a website conforming to this W3C recommendation.

Currently, many browsers are becoming specifications with the W3C Recommendation. 
Development companies are obliged to develop websites that conform to the W3C Recommendation,
And they have to make the site where not only a personal computer but a tablet and a smart phone can respond. 

there are advantages in being grammatically correct, easy-to-understand document structure.
It's the following as the merit,Therefore, naturally it will be used. 

1.web standard is strong for search engine optimization or SEO.

The search engine itself considers the W3C recommendation. By separating from the design
The document structure is simplified. As a result it will be optimized for search engines. And it leads to high-ranking display in the search engine.

2.Development work can be simplified.

Change of a design is made by CSS. 
Change of a document is made in HTML. 
Thus, work can be divided.
It simplifies the operation of the website. When renewing, if you just change the design, HTML changes will be less. This will be cost savings.

3.It'll be improvement of the accessibility.

That it not depend on the computer browser type. Support for Tablet and Smartphone is easier.

If that's rule of the internet development, developer has to use it.
If it is taken into system,user must use it.

I think it would gradually replace the traditional shopping cart and a traditional settlement.

I think Google Pay and Apple Pay would also use interledger.

Edited by hamasugu
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10 hours ago, hamasugu said:

”XRP”  are coming out in the document updated on June 7, 2018
You can see that XRP payment is assumed

not exactly accurate -- nothing is "assumed" at all, your screenshot just shows what we already know: ILP can use anything, it's up to the implementor

xrp is just one possibility of ANY asset -- nothing new here IMO

Edited by Guest
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5 minutes ago, zerpdigger said:

not exactly accurate -- nothing is "assumed" at all, your screenshot just shows what we already know: ILP can use anything, it's up to the implementor

xrp is just one possibility of ANY asset -- nothing new here IMO

https://medium.com/@dora_gt/世界で一番分かりやすい-interledger-protocol-a6e6e3d11d80

This is a blog of the user who participated in Ripple's Interledger Workshop Tokyo.

He wrote over view of the Interledger.

This doesn't show direct payment of XRP. But it's written about a connector of XRP.

I think this is the mechanism that XRP is key currency-ized.

We can use various Fiat currencies and cryptocurrency through the connector.

And XRP mediates. After all, I think that I will be able to pay directly with XRP.

1*IRmeJ4SpzH1ZBVZSj9Lhpg.png

 

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@hamasugu thanks for the info so far. On Twitter @Hodor refers to the “web monetisation” standard which, he states, is still needed. Can you add any more information on this topic and how long do you think it would take before it could be implemented? 

I appreciate you may not be able to answer the second question but thought I would ask anyway!

 

CF7B1895-E3CA-4BC9-9865-0CE8314CD384.png

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On 6/29/2018 at 10:32 PM, WhentheBoat_ComesIn said:

@hamasugu thanks for the info so far. On Twitter @Hodor refers to the “web monetisation” standard which, he states, is still needed. Can you add any more information on this topic and how long do you think it would take before it could be implemented? 

I appreciate you may not be able to answer the second question but thought I would ask anyway!

 

CF7B1895-E3CA-4BC9-9865-0CE8314CD384.png

I saw the reference URL below.

It looks like  API for micropayments for blogs and news sites etc. It will probably be possible for micropayments that cross currencies.

"Web Monetization is a proposed browser API that uses ILP micropayments to monetize a site. It can be polyfilled by extensions, or can be implemented directly into an ILP-enabled browser."

https://interledger.org/rfcs/0028-web-monetization/

https://medium.com/coil/coil-building-a-new-business-model-for-the-web-d33124358b6

 

Settlement using Payment Request API is the mainstream of future shopping settlement.
Web monetisation API will be the mainstream of future monetization in personal blogs and news sites.
Settlement Web will explode and spread with XRP in the coming years.
 

Edited by hamasugu
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