Jump to content

XRP as THE Interledger


Recommended Posts

There's definitely going to be some sort of 'standard' regarding (the world of) cryptocurrency/blockchain, I think. The current financial giants aren't going to sit back and let this 'new monetary system' be defined/regulated/steered by someone else and just spectate how it's going to develop. They definitely want to control it to a certain extend. One way to do that is by having a 'standard'.

I can definitely see Ripple becoming a 'standard' somehow. They have created a huge network already (banks and financial institutions). If they keep expanding this, it's fairly easy to make it the 'standard'. Why? Since it will be the 'biggest' network that will exist already when there's going to be a need for a standard.

This is just my opinion on it, please correct me if I'm totally wrong on this.

Link to comment
Share on other sites

There won't be a standard currency or system or whatever you want to call it. There will be many currencies and systems. But there's a good chance that there will be one dominant protocol that they can all use to communicate. ILP wants to be to money what HTTP is to the web. HTTP lets one server say to another, "Hey, get can you give me this web page?" and it'll either get the page or an error. In the same way, ILP will let one payment server say to another, "Hey can you send $20 to Bob?" and get an answer back.

Link to comment
Share on other sites

22 minutes ago, brianwalden said:

There won't be a standard currency or system or whatever you want to call it. There will be many currencies and systems. But there's a good chance that there will be one dominant protocol that they can all use to communicate. ILP wants to be to money what HTTP is to the web. HTTP lets one server say to another, "Hey, get can you give me this web page?" and it'll either get the page or an error. In the same way, ILP will let one payment server say to another, "Hey can you send $20 to Bob?" and get an answer back.

There will definitely be regulation and standardization within this whole new infrastructure that's still in a very early stage. The fact that there will be many different currencies and many different systems doesn't mean there is going to be one or several big parties that will lead it all, either in general or in certain specific fields (payment/gaming/reward/retail etc). As far as concerning Ripple, I definitely think they are capable of becoming one of these bigger ones.

Edited by PRX
Link to comment
Share on other sites

7 hours ago, newbee said:

Dream or reality?

Reality. 

The "tipping point" was reached sometime in May with the adoption of 47-bank consortium, ~10-15 new exchanges, and amazing liquidity, IMO. 

Link to comment
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...