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ILP Workshop Presentation 2 25

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Slides from the first face to face ILP workshop, held in San Francisco on 2/25/2016. For more information, visit interledger.org.

Published in: Economy & Finance
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ILP Workshop Presentation 2 25

  1. 1. Interledger Overview Stefan Thomas • Evan Schwartz 1st Community Group Workshop
  2. 2. Why are we here?
  3. 3. Payments Work Great!Payments Work Great!*
  4. 4. ...until you need to go across systems
  5. 5. Payments are easy within one ledger!
  6. 6. The world will never agree to use one single ledger
  7. 7. We need an open protocol for interledger payments
  8. 8. INTERLEDGER Payments across payment networks 8
  9. 9. Ledgers track accounts and balances Sender RecipientLedger 9
  10. 10. But not everyone is on the same ledger 10
  11. 11. Connectors relay money Connector 11
  12. 12. Connectors relay money Connector Alice 100 Chloe 0 Chloe 110 Bob 0 100 110 12
  13. 13. What if the connector drops it? 13
  14. 14. Money would be lost Alice 100 Chloe 0 Chloe 110 Bob 0 ? 100 14
  15. 15. Escrow provides security 15
  16. 16. Ledger-provided escrow reduces risk Alice 100 Escrow 0 Chloe 0 Chloe 110 Escrow 0 Bob 0 16
  17. 17. Funds are escrowed from left to right 17 Alice 100 Escrow 0 Chloe 0 Chloe 110 Escrow 0 Bob 0 ESCROW
  18. 18. Sender puts funds into escrow Alice 100 Escrow 0 Chloe 0 Chloe 110 Escrow 0 Bob 0 100 18
  19. 19. Connectors put funds into escrow Alice 0 Escrow 100 Chloe 0 Chloe 110 Escrow 0 Bob 0 110 19
  20. 20. Transfers are executed right to left 20 Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 110 Bob 0 EXECUTION
  21. 21. Recipient signs receipt Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 110 Bob 0 21
  22. 22. Receipt releases funds from escrow Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 110 Bob 0 110 22
  23. 23. How does the connector get reimbursed? Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 0 Bob 110 23 ?
  24. 24. Connector gets receipt from ledger Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 0 Bob 110 24
  25. 25. Connector passes on the receipt Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 0 Bob 110 25
  26. 26. Receipt releases funds from escrow Alice 0 Escrow 100 Chloe 0 Chloe 0 Escrow 0 Bob 110 100 26
  27. 27. Payment is complete Alice 0 Escrow 0 Chloe 100 Chloe 0 Escrow 0 Bob 110 27
  28. 28. 28 ESCROW Transfers are escrowed L2R, executed R2L EXECUTION
  29. 29. Paths can be short 29
  30. 30. Or long 30
  31. 31. Or even longer 31
  32. 32. The Interledger
  33. 33. Any ledger can join…
  34. 34. Just by peering
  35. 35. ILP Value Proposition
  36. 36. Everyone has global reach. OPEN
  37. 37. Fit to be a standard. NEUTRAL
  38. 38. Anybody, any currency, any country. UNIVERSAL
  39. 39. Demo Time
  40. 40. Questions?
  41. 41. Use Case Example + Demo Content Micropayments
  42. 42. Let’s say Robert wrote a poem... “Two roads diverged in a yellow wood, And sorry I could not travel both...”
  43. 43. And Sarah turned that into a song... “Two roads diverged in a yellow wood, And sorry I could not travel both...”
  44. 44. And Tracy used that song in a movie.... “Two roads diverged in a yellow wood, And sorry I could not travel both...”
  45. 45. Robert loves other people reading, sharing, and using his poems
  46. 46. Robert loves other people reading, sharing, and using his poems ...as long as he is paid fairly.
  47. 47. Sarah loves other people listening to, sharing, and using her songs ...as long as she is paid fairly.
  48. 48. Tracy loves other people watching, sharing, and using her movies ...as long as she is paid fairly.
  49. 49. What if we could directly pay Robert, Sarah, and Tracy at the same time?

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