XRP as THE Interledger

[newbee]

Nice pic! Dream or reality?

 

 

[T8493]

Is there a similar picture made by Ripple Labs somewhere? Or maybe just (re)tweeted by the Ripple Labs folks?

[PRX]

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.

[brianwalden]

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.

[PRX]

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 June 6, 2017 by PRX

[Hodor]

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. 

[Hodor]

6 hours ago, T8493 said:

Is there a similar picture made by Ripple Labs somewhere? Or maybe just (re)tweeted by the Ripple Labs folks?

@hw40 created this version I believe:

 

[hw40]

11 hours ago, T8493 said:

Is there a similar picture made by Ripple Labs somewhere? Or maybe just (re)tweeted by the Ripple Labs folks?

I created this one yesterday.