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Forget bitcoin, the Internet is there for cash


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Translated to English:


"We try to create a global standard for payments," says Stefan Thomas, Head of Technology Ripple. "A system that exceeds all ledgers and leveling the differences."



In essence, the potential inter ledger protocol creates a system that can exchange two different ledgers money through a third party: the "connector" or "validation" machine. But the ledgers the connector have no need for security and trust. Using cryptographic algorithms, protocol ensures that the two ledgers and the connector provide a guarantee. The funds will be changed only if everyone agrees is that the right amount of money is available and established the identity of the parties. "For each transaction, an ad hoc group created consensus," said Thomas.



According Marly Gray, bitcoin expert at Microsoft, the industry now consists of a wide variety of block chain-like technologies, some public and some private, and is looking for a way to make that all work together. Gray thinks that the new technology is not only a boost for the digital currency. Eventually, he says, it can also encourage companies to use these big books online to share all sorts of things of value equities, title deeds of houses and cars and much more. The internet can move almost any financial instrument as easy as texts and e-mails moved. We need it just to agree on the way.


Edited by tomb
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I'm an XRP cheerleader of course :D , so my favorite quote: 

"There is a movement under way to create a technology that all these online ledgers late talking with each other, so that money sent may be between the different systems, "inter ledger protocol" (a parent ledger), established by the company Ripple set up. After the company had the idea shared with the public, received the support of several notable companies: including Microsoft and the World Wide Web Consortium, the organization behind the web. The idea is to create a global network that not only all digital currency can unite, but also all businesses and individuals that use this currency."

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