GateHub 2016: A Year in Review (Email)

[TPM]

It looks like GATEHUB has plans to help Ripple improve XRP ACCESS and LIQUIDITY!

 

GateHub 2016: A Year in Review

Interledger

In July we successfully completed world’s first payment from GateHub to Bitstamp using Interledger.

 

A Look Forward

In 2017 we will be busy onboarding new gateways that will bring more assets and funding methods to the Ripple Consensus Ledger (RCL).

Our Wallet will receive many useful features including a sleek and easy to use Mobile App for Android and iOS. Did we mentioned the App comes with a debit card?

Maybe the most exciting feature this year is full Interledger support, coming in Q1 2017. Our gateways will be among the first ILP-enabled services and you as our customer will be able to experience this groundbreaking technology hands-on using GateHub Wallet.

Edited January 5, 2017 by TPM

[T8493]

3 minutes ago, TPM said:

Maybe the most exciting feature this year is full Interledger support, coming in Q1 2017. Our gateways will be among the first ILP-enabled services and you as our customer will be able to experience this groundbreaking technology hands-on using GateHub Wallet.

 

 

ILP is not yet standardized. How will they establish interoperability with other entities?

[Morty]

Ooohh. Debit card. ☺ 

That's probably a  bad thing. I'll spend all my zerps. ? 

[enej]

11 minutes ago, T8493 said:

ILP is not yet standardized. How will they establish interoperability with other entities?

We are working closely with Ripple's ILP team to make sure we are 100% compatible with other entities.

[Xi195]

@enej Will the debit card spend XRP using ILP, or will it only spend USD?

[Morty]

12 minutes ago, Xi195 said:

@enej Will the debit card spend XRP using ILP, or will it only spend USD?

If it works correctly it should convert currency on the fly, depending on what country you are in. Would be handy for travellers. 

I hope this is how it works. 

[kanaas]

@enej "debit" card.... will you rely on a network like Visa, MasterCard, ...

[TPM]

48 minutes ago, enej said:

We are working closely with Ripple's ILP team to make sure we are 100% compatible with other entities.

Fantastic.......real upgrades that will provide immediate XRP use/access and liquidity in Q1 2017!

 

Edited January 5, 2017 by TPM

[enej]

35 minutes ago, Xi195 said:

@enej Will the debit card spend XRP using ILP, or will it only spend USD?

 

20 minutes ago, Morty said:

If it works correctly it should convert currency on the fly, depending on what country you are in. Would be handy for travellers. 

I hope this is how it works. 

As @Morty said, you'll be able to spend any currency.

I should note that ILP and cards will only work with hosted wallets until RCL fully supports ILP as well. Even then the general public will probably be better off using hosted wallets - except if they are advanced users and they know what they're doing.

To put things in perspective, we believe ILP and hosted wallets will become a replacement for bank accounts (again bank accounts, not banks) and PayPal's of the world while RCL will be used by Liquidity Providers (connectors to use ILP terminology) to settle funds faster than using wire transfers.

The question is how open the ILP enabled institutions will be to supporting 3rd party connectors. This is why we are working hard to create a network(s) of gateways that will be using the same transaction protocols (ILP) and identity standard (Global iD). Both are needed if we want this to work between institutions that don't directly trust each other. And of course to keep regulators happy ...

 

[enej]

39 minutes ago, kanaas said:

@enej "debit" card.... will you rely on a network like Visa, MasterCard, ...

Yes. For the time being.

Someday in the future (definitely not in 2017) when both user's and the merchant's accounts (or wallets) support ILP, we might simply bypass Visa's/Mastercard's network and send TX off the rails (or inter-rails) via ILP. If not debit card will simply fallback to Visa's or Mastercard's network.

This will take some time however because we'll need to have smart enough mobile wallets, merchant solutions (terminals) and ledgers that all supports ILP and GiD (Global iD).

 

Edited January 5, 2017 by enej

[rippleric]

Exciting 

[cmbartley]

@enej is the mobile app you speak of MyGlobal ID?

[Morty]

1 hour ago, cmbartley said:

@enej is the mobile app you speak of MyGlobal ID?

Oh God I hope not!

Most infuriating app I've ever used. 

Can't even sign in. Sure you can sign up. But if you download the app to a new phone, there's no option to sign in. 

[winthan]

5 hours ago, T8493 said:

 

ILP is not yet standardized. How will they establish interoperability with other entities?

 

 That is true, but now with current ILP nodes, you can send around IOUs to between trust nodes. But there is no RCL yet. However, It is okay to start with own trust nodes. 

[cmbartley]

25 minutes ago, Morty said:

Oh God I hope not!

Most infuriating app I've ever used. 

Can't even sign in. Sure you can sign up. But if you download the app to a new phone, there's no option to sign in. 

Have you downloaded the newest version?I believe it was released yesterday.