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Interledger Application/ Setup Protocols

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An explanation of ILP as a standard protocol for W3C Web Payments, including Interledger expressed in a single slide. Full presentation here: https://interledger.org/presentations/2016-07-06%20-%20ILP%20Workshop%20London%202016.pdf

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Interledger Application/ Setup Protocols

  1. 1. Interledger Adrian Hope-Bailie Application/Setup Protocols and W3C Web Payments
  2. 2. address: "us.wf.bob" amount: "1023.20" expiry: "2016-07-06T09:00:10Z" condition: "cc:0:3:4a7DEpj8f9..." All you need to ILP is...
  3. 3. Setting up an Interledger payment requires a few steps: ● Discovery Resolve and discover receiver’s ILP address and any ledger services using receiver’s account identifier ● Query Query receiving ledger services to get currency, precision etc ● Quote Get a quote from the network ● Setup Prepare the ILP packet (get condition etc)
  4. 4. Setup/Application protocols define these steps ● Discovery Resolve and discover receiver’s ILP address and any ledger services using receiver’s account identifier ● Query Query receiving ledger services to get currency, precision etc ● Quote Get a quote from the network ● Setup Prepare the ILP packet (get condition etc)
  5. 5. The “Simple Payment Setup Protocol” ● Discovery Use WebFinger to resolve account@ledger identifiers ● Query Standard Web APIs for getting receiver info ● Quote Get a quote from the network ● Setup Standard Web API for getting a condition from the receiver
  6. 6. The “Passive Payment Setup Protocol” ● Discovery Account registry provides ILP address and receiver’s public key ● Query Standard Web APIs for getting ledger info from central service/from ledger ● Quote Get a quote from the network ● Setup Condition based on receiver’s public key
  7. 7. address: "<common ledger?>" amount: "<well-known precision>" expiry: "2016-07-06T09:00:10Z" condition: "<public key - based>" What about other use cases
  8. 8. address: "bitcoin.145b3dEskk1a7U..." amount: "0.00000123" expiry: "2016-07-06T09:00:10Z" condition: "<tx confirmed on chain>" Crypto-currency ledgers as receivers?
  9. 9. Web Payments A standard for initiating payments on the Web
  10. 10. 10 A standard for payment initiation on the Web ● Browser API to initiate a Payment Request var payment = new PaymentRequest(...); ● Browser API to register Payment Apps PaymentApp.register(..); ● Payment Methods define the request and response format
  11. 11. 11 Other work in development... ● HTTP API to initiate a Payment Request via HTTP GET /movies/dr-strangelove HTTP/1.1 Host: videos.example.com Date: Tue, 07 Jun 2017 21:31:35 GMT HTTP/1.1 402 Payment Required Date: Tue, 07 Jun 2017 21:31:36 GMT Location: https://videos.example.com/payment-requests/dr-strangelove ● Payment Method Specifications for card payments, Bitcoin, SEPA Credit Transfers and Direct Debits, Alipay, Interledger?
  12. 12. A Payment Request 12 [ { supportedMethods: ["visa","mastercard"], }, { supportedMethods: ["bitcoin"], data: { receiver: "145b3dEskk1a7Uw4gWBdpa8NFEwbfz2MgT", } }, { supportedMethods: ["interledger/spsp"], data: { receiver: "bob@us.wf", } } { supportedMethods: ["interledger/ppsp"], data: { receiver: "us.wf/bob", publicKey: "https://bob.com/keys/27", } } ]
  13. 13. Benefits of Interledger + Payment Request 13 ● Autonomous payments and the Internet of Things ○ Massive increase in global payments volume ○ Financial incentives driving new behaviour ● Micropayments-based business models ○ Goodbye advertising and DRM ○ Privacy and convenience… together ● Personal ledgers
  14. 14. Q&A

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