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How does ILP specifically benefit XRP?


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If this has been covered elsewhere, please send link. 

With the latest news that an ILP-fiat connector has been created, I started wondering how ILP benefits XRP as this technology develops and grows. Wouldn’t ILP result in a stay of execution for other garbage crypto coins/tokens? The IOV sounds like it would allow quick payment and conversion across different block chains. Wouldn’t that prolong or even promote the existence of BTC and ETH? 

I know the tech is flawed and also POW should ultimately fail, but it is what people know today. Why provide an avenue to inter operate and connect with these before adoption of XRP at a “consumer” level can occur? 

Any input or ideas are appreciated. 

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ILP is essentially TCP/IP for value. It selects the most optimal route for payment and settlement (speed, cost, etc.), then allows for execution of that payment across multiple connectors and participants.

ILP is currency-agnostic, meaning there's no guarantee that the optimal path will be a path that utilizes [pick your favorite currency], but this is actually a great thing for XRP in my opinion. It will result in a larger payments market for digital assets of all kinds, but especially those that are fast and cheap to transact. 

Basically, ILP levels the playing field. Payments become a meritocracy instead of a set of walled gardens with chokeholds being maintained by power-players.

Others please chime in to correct me!

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One thing to add -- without ILP, the Ripple ecosystem would simply be one more walled garden. ILP attempts to tear down all the walls to allow value to flow toward the best-performing channel. It's a faster route to success (or failure), which right now makes it the best option, since Ripple seems to be in the lead as far as technology goes.

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