Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Interledger
Stefan Thomas
An Overview
The State of Payments Is Sad.
Today’s Infrastructure
Low-Volume High-Value Slow Batch Payments
3
Designed for High Value or Batch Payments
A System From a Different Time
Photo by NASA
Where Is The Competition?
Photo: CountryStyle Photography
6
Accepted Payment Methods
Prineta.com
Plenty of Innovation
But: Global Reach Is Prohibitively Expensive
7
Nostro account costs: liquidity, regulations, operations, risk and complian...
BACK TO
BASICS
Ledgers Track Accounts and Balances
Sender RecipientLedger
10
Central Ledger Model
Distributed Ledger Model
The World Will Never Agree
On One Ledger
Diversity Is A Good Thing
14
BlockchainACH Mobile Money Card Networks
But Why Is Everything Disconnected?
15
BlockchainACH Mobile Money Card Networks
How Is Money Transferred Across Ledgers?
16
We Know That There Must Be Local Transfers
17
Alice 100
??? 0
??? 110
Bob 0
100 110
Connectors Link Two Ledgers
Connector
Alice 100
Chloe 0
Chloe 100
Bob 0
100 100
18
address: "us.wf.bob"
amount: "1023.20"
When?
Why?
Interledger In One Slide (Really)
Bilateral Connections Don't Scale
20
Bilateral Connections Don't Scale
21
O(n2
)
Bilateral Connections Don't Scale
22
O(n2
)
Networks Do Scale
23
O(n)
Networks Do Scale
24
O(n)
Sending With No Direct Connection
25
O(n)
We Need Multiple Hops
26
O(n)
BUT HOW?
TO THE
WORKSHOP!
TO THE
WORKSHOP!
Learning From History
Internet: Network of Networks
The internet protocol implements
two basic functions:
addressing and fragmentation.
— RFC 791
“
Internet: Network of Networks
204.28.124.148
IP Address
Internet Architecture
IP
WIFI BLUETOOTH ETHERNET
Internetwork
Network
Transport TCP UDP
Application HTTP SMTP NNTP NTP RTP
Interledger
The protocol for connecting ledgers.
Interledger Architecture
ILP
ISO 20022
BITCOIN ETHEREUM
Interledger
Ledger
Application SPSP PPSP ...
Where?
How much?
Interledger In One Slide (Really)
address: "us.wf.bob"
How much?
Interledger In One Slide (Really)
address: "us.wf.bob"
amount: "1023.20"
Interledger In One Slide (Really)
address: "us.wf.bob"
amount: "1023.20"
expiry: "2016-07-06T09:00:10Z"
Why?
Interledger In One Slide (Really)
address: "us.wf.bob"
amount: "1023.20"
expiry: "2016-07-06T09:00:10Z"
condition: "cc:0:3:4a7DEpj8f9..."
Interledger In One...
Now We Can Support Longer Chains
41
The Interledger
BlockchainACH Mobile Money Card Networks
43
A Standard for Real-Time Payments Across Networks
Show us!
Interledger Overview
Upcoming SlideShare
Loading in …5
×

Interledger Overview

565 views

Published on

Explanation of what ILP is, what problems it solves, and how. Full presentation here: https://interledger.org/presentations/2016-07-06%20-%20ILP%20Workshop%20London%202016.pdf

Published in: Technology
  • Be the first to comment

Interledger Overview

  1. 1. Interledger Stefan Thomas An Overview
  2. 2. The State of Payments Is Sad.
  3. 3. Today’s Infrastructure Low-Volume High-Value Slow Batch Payments 3 Designed for High Value or Batch Payments
  4. 4. A System From a Different Time Photo by NASA
  5. 5. Where Is The Competition? Photo: CountryStyle Photography
  6. 6. 6 Accepted Payment Methods Prineta.com Plenty of Innovation
  7. 7. But: Global Reach Is Prohibitively Expensive 7 Nostro account costs: liquidity, regulations, operations, risk and compliance
  8. 8. BACK TO BASICS
  9. 9. Ledgers Track Accounts and Balances Sender RecipientLedger 10
  10. 10. Central Ledger Model
  11. 11. Distributed Ledger Model
  12. 12. The World Will Never Agree On One Ledger
  13. 13. Diversity Is A Good Thing 14 BlockchainACH Mobile Money Card Networks
  14. 14. But Why Is Everything Disconnected? 15 BlockchainACH Mobile Money Card Networks
  15. 15. How Is Money Transferred Across Ledgers? 16
  16. 16. We Know That There Must Be Local Transfers 17 Alice 100 ??? 0 ??? 110 Bob 0 100 110
  17. 17. Connectors Link Two Ledgers Connector Alice 100 Chloe 0 Chloe 100 Bob 0 100 100 18
  18. 18. address: "us.wf.bob" amount: "1023.20" When? Why? Interledger In One Slide (Really)
  19. 19. Bilateral Connections Don't Scale 20
  20. 20. Bilateral Connections Don't Scale 21 O(n2 )
  21. 21. Bilateral Connections Don't Scale 22 O(n2 )
  22. 22. Networks Do Scale 23 O(n)
  23. 23. Networks Do Scale 24 O(n)
  24. 24. Sending With No Direct Connection 25 O(n)
  25. 25. We Need Multiple Hops 26 O(n)
  26. 26. BUT HOW?
  27. 27. TO THE WORKSHOP! TO THE WORKSHOP!
  28. 28. Learning From History
  29. 29. Internet: Network of Networks
  30. 30. The internet protocol implements two basic functions: addressing and fragmentation. — RFC 791 “
  31. 31. Internet: Network of Networks 204.28.124.148 IP Address
  32. 32. Internet Architecture IP WIFI BLUETOOTH ETHERNET Internetwork Network Transport TCP UDP Application HTTP SMTP NNTP NTP RTP
  33. 33. Interledger The protocol for connecting ledgers.
  34. 34. Interledger Architecture ILP ISO 20022 BITCOIN ETHEREUM Interledger Ledger Application SPSP PPSP ...
  35. 35. Where? How much? Interledger In One Slide (Really)
  36. 36. address: "us.wf.bob" How much? Interledger In One Slide (Really)
  37. 37. address: "us.wf.bob" amount: "1023.20" Interledger In One Slide (Really)
  38. 38. address: "us.wf.bob" amount: "1023.20" expiry: "2016-07-06T09:00:10Z" Why? Interledger In One Slide (Really)
  39. 39. address: "us.wf.bob" amount: "1023.20" expiry: "2016-07-06T09:00:10Z" condition: "cc:0:3:4a7DEpj8f9..." Interledger In One Slide (Really)
  40. 40. Now We Can Support Longer Chains 41
  41. 41. The Interledger
  42. 42. BlockchainACH Mobile Money Card Networks 43 A Standard for Real-Time Payments Across Networks
  43. 43. Show us!

×