Jump to content

Ripple launches PayID with 40+ partners


Recommended Posts

  • Replies 61
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

https://payid.org/   Why Ripple Supports PayID: https://ripple.com/insights/why-ripple-supports-payid/   Fortune article about the project: Ripple launches PayID allowi

It's a standard format for payment addresses. Just like name@example.com is a standard email address format, PAYID members have agreed to use name$example.com as a standard payment address format. Jus

https://www.xrparcade.com/news/ripple-led-payments-coalition-aims-to-standardize-payments/

Posted Images

So I was playing around with this in a docker container.

I can't really get over how revolutionary this is in terms of transforming consumer banking.

If you can run your own server, you now have a shareable pointer to accept payments right into cold storage. As simple for people to remember as your email address.

My mind is still blown. We are no longer waiting on dozens of banks to start using XRP.

We are now waiting on millions of domain name holders to start using PayID.

If it is as simple as putting together a docker on your NAS or on an AWS instance - heck even a Lightsail VM - and then pointing a subdirectory of your own web domain to it?

Jesus, all it would take is Godaddy to include setting up a payment pointer as a service when you register a domain - this thing will hit retail banking like a meteor.

Edited by jag216
Link to post
Share on other sites
51 minutes ago, jag216 said:

If it is as simple as putting together a docker on your NAS or on an AWS instance - heck even a Lightsail VM - and then pointing a subdirectory of your own web domain to it?

I fell behind on some of the progress here, but I know ILP was working on "Payment Pointers" several years ago.

If you can have funds go directly to a cold wallet, that is a very valuable capability.

Edited by KarmaCoverage
Link to post
Share on other sites
3 hours ago, KarmaCoverage said:

If you can have funds go directly to a cold wallet, that is a very valuable capability.

I agree - and if this piece of code is all it really takes to set up a PayID address paybox on a payid server:

{
  "payId": "alice$127.0.0.1",
  "addresses": [
    {
    "paymentNetwork": "XRPL",
    "environment": "TESTNET",
      "details": {
        "address": "rDk7FQvkQxQQNGTtfM2Fr66s7Nm3k87vdS",
        "tag": "123"
      }
    }
  ]
}

Sent as a POST message to a PayID server hosted locally, and if you can add multiple paymentNetwork options, each with their own wallet addresses hardcoded, and XUMM add the integration of the necessary KYC handshakes for big boys to be able to get/verification of account ownership from XUMM (so that they know who owns the account they are sending money to) - then suddenly you have a KYC compliant cold storage solution where you get to custody your own keys while being fully compliant in interacting with the wider financial space.

 

Link to post
Share on other sites

This seems like a hugely exciting development, but I've read a couple pages now and am struggling to understand exactly how this will all work. Could anyone try explaining to a thick fella like me - from a birds-eye-view - how payid works and just how xrp could fit into it? 

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.