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Interledger
Evan Schwartz
Co-Inventor of Interledger
Managing Director of Ripple Luxembourg
Enabling the Internet of Value
Data Moves Freely
0011010011010100110100110101100110100110101
Why Doesn’t Money?
€€€€€ €€
€
Accepting Payments In a Turkish Coffee Shop
Payment Methods Accepted By Prineta.com
Accepting Payments Online
Blockchains Are Not Interoperable
The World Will Never Agree
On One Ledger
Payment Networks Are Disconnected
8
BlockchainBanks Mobile Money Online Wallets
RESULT
Frustration for Consumers, Merchants and Corporates
You can email me at
evan@ripple.com
even if you don’t use Gmail
You should be able to pay me at
evan@my-ledger.com
even if you’re on a different ledger
Interledger
The protocol for connecting ledgers
Let’s see it in action!
Interledger is
not a blockchain
Interledger is
not a network
Interledger is
an internetworking protocol
internetworking
in·ter·net·work·ing
The interconnection of two or more
networks so as to form a larger network.
noun
Everywhere you want to be.
There are some things money can't buy.
For everything else, there's MasterCard.
is what matters.
REACH
In global payments today,
This used to be true for
information networks, too.
"… biggest …"
"… more members …"
"… more services…"
Internetworking commoditized reach.
America's fastest Internet.
Reliable. Safe. Fast.
High-speed Internet from AT&T
Fast, reliable, unlimited Internet
COST
SPEED
Now, it's all about
RELIABILITY SIMPLICITY
COST
SPEED
Internetworking changes the game.
QUALITY
REACH
Payment Networks Are Disconnected
27
BlockchainBanks Mobile Money Online Wallets
BlockchainBanks Mobile Money Online Wallets
28
Internetworking For Payment Networks
Interledger
The protocol for connecting ledgers
Interledger
provides:
1. Connectors
2. Address + Packet
3. Security
Connectors Link Two Ledgers
Connector
Alice 100
Chloe 0
Chloe 107
Bob 0
EUR USD
TO:
us.wf.bob
Connectors Use the Packet and Address to Route Payments
Sender Attaches Interledger Packet to Local Transfer
Alice 100
Chloe 0
Chloe 107
Bob 0
100
us.wf.bob
107.00
Connector Forwards the Packet via Another Transfer
Alice 0
Chloe 100
Chloe 107
Bob 0
us.wf.bob
309.00
Paths Can Be Extended to Connect Everyone
This Is The Internet of Value
Interledger is inspired by the
history and architecture
of the Internet
Internet Is A Simple Protocol With A Layered Architecture
IP
WIFI BLUETOOTH ETHERNET
Internetwork
Network
Transport TCP UD...
Interledger Is A Simple Protocol With A Layered Architecture
ILP
CASH BANKS BLOCKCHAIN
MOBILE MONEY
Interledger
Ledger
Tra...
The Internet: Just Cost Saving?
Removing Fixed Costs Enables Smaller Transactions
unviable viable viable
fixed cost
Transaction size
Cost
Transaction size...
The Internet Enabled Completely New Business Models
The Internet of Value is a game changer.
Interledger Project
KEY FACTS
Open Protocol Community Group @ W3C 230+ Contributors
Banks
Central banks
Payments companies...
● Banks
● Central Banks
● Tech Companies
● Blockchains
Interledger Adoption
● Banks
● Central Banks
● Tech Companies
● Blockchains
Interledger Adoption
Sample of Ripple’s Customers
48
● Banks
● Central Banks
● Tech Companies
● Blockchains
Interledger Adoption
● Banks
● Central Banks
● Tech Companies
● Blockchains
Interledger Adoption
W3C Web Payments Working Group
W3C Web Payments Working Group
Adrian Hope-Bailie Nick Telford-Reed
● Banks
● Central Banks
● Tech Companies
● Blockchains
Interledger Adoption
Blockchain and ILP
Natively ILP-enabled
ILP compatible
● Banks
● Central Banks
● Tech Companies
● Blockchains
● You
Interledger Adoption
“Dial-Up” Interledger
ILP-Enablement
Also Known As The Right Way
Adoption To-Date
Status: Not Great
Protocols Have Humble Beginnings
Gotta Start Somewhere
Dial-Up Interledger
Dial-Up Interledger
Connector
Dial-Up Interledger
User Connector
Dial-Up Interledger
ACH, SEPA, PayPal, ...
User Connector
Dial-Up Interledger
Cash
User Connector
Separated Clearing & Settlement
Connect To Or Run An “ILP Kit”
Get Involved at
Interledger.org
Get Involved at Interledger.org
Find Me After to Get an
Interledger Sticker ;-)
Interledger Overview // Luxembourg Center for Security, Reliability, and Trust Meetup
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Interledger Overview // Luxembourg Center for Security, Reliability, and Trust Meetup

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The latest Interledger overview, presented at a meetup held at the University of Luxembourg's Interdisciplinary Center for Security, Reliability and Trust.

Published in: Technology

Interledger Overview // Luxembourg Center for Security, Reliability, and Trust Meetup

  1. 1. Interledger Evan Schwartz Co-Inventor of Interledger Managing Director of Ripple Luxembourg Enabling the Internet of Value
  2. 2. Data Moves Freely 0011010011010100110100110101100110100110101
  3. 3. Why Doesn’t Money? €€€€€ €€ €
  4. 4. Accepting Payments In a Turkish Coffee Shop
  5. 5. Payment Methods Accepted By Prineta.com Accepting Payments Online
  6. 6. Blockchains Are Not Interoperable
  7. 7. The World Will Never Agree On One Ledger
  8. 8. Payment Networks Are Disconnected 8 BlockchainBanks Mobile Money Online Wallets
  9. 9. RESULT Frustration for Consumers, Merchants and Corporates
  10. 10. You can email me at evan@ripple.com even if you don’t use Gmail
  11. 11. You should be able to pay me at evan@my-ledger.com even if you’re on a different ledger
  12. 12. Interledger The protocol for connecting ledgers
  13. 13. Let’s see it in action!
  14. 14. Interledger is not a blockchain
  15. 15. Interledger is not a network
  16. 16. Interledger is an internetworking protocol
  17. 17. internetworking
  18. 18. in·ter·net·work·ing The interconnection of two or more networks so as to form a larger network. noun
  19. 19. Everywhere you want to be. There are some things money can't buy. For everything else, there's MasterCard.
  20. 20. is what matters. REACH In global payments today,
  21. 21. This used to be true for information networks, too.
  22. 22. "… biggest …" "… more members …" "… more services…"
  23. 23. Internetworking commoditized reach.
  24. 24. America's fastest Internet. Reliable. Safe. Fast. High-speed Internet from AT&T Fast, reliable, unlimited Internet
  25. 25. COST SPEED Now, it's all about RELIABILITY SIMPLICITY
  26. 26. COST SPEED Internetworking changes the game. QUALITY REACH
  27. 27. Payment Networks Are Disconnected 27 BlockchainBanks Mobile Money Online Wallets
  28. 28. BlockchainBanks Mobile Money Online Wallets 28 Internetworking For Payment Networks
  29. 29. Interledger The protocol for connecting ledgers
  30. 30. Interledger provides: 1. Connectors 2. Address + Packet 3. Security
  31. 31. Connectors Link Two Ledgers Connector Alice 100 Chloe 0 Chloe 107 Bob 0 EUR USD
  32. 32. TO: us.wf.bob Connectors Use the Packet and Address to Route Payments
  33. 33. Sender Attaches Interledger Packet to Local Transfer Alice 100 Chloe 0 Chloe 107 Bob 0 100 us.wf.bob 107.00
  34. 34. Connector Forwards the Packet via Another Transfer Alice 0 Chloe 100 Chloe 107 Bob 0 us.wf.bob 309.00
  35. 35. Paths Can Be Extended to Connect Everyone
  36. 36. This Is The Internet of Value
  37. 37. Interledger is inspired by the history and architecture of the Internet
  38. 38. Internet Is A Simple Protocol With A Layered Architecture IP WIFI BLUETOOTH ETHERNET Internetwork Network Transport TCP UDP Application HTTP SMTP NNTP NTP RTP
  39. 39. Interledger Is A Simple Protocol With A Layered Architecture ILP CASH BANKS BLOCKCHAIN MOBILE MONEY Interledger Ledger Transport IPR SSP ... Application SPSP PPSP RPSP...
  40. 40. The Internet: Just Cost Saving?
  41. 41. Removing Fixed Costs Enables Smaller Transactions unviable viable viable fixed cost Transaction size Cost Transaction size Cost pre-internetworking fixed costs price out long-tail use cases post-internetworking new business models become possible
  42. 42. The Internet Enabled Completely New Business Models
  43. 43. The Internet of Value is a game changer.
  44. 44. Interledger Project KEY FACTS Open Protocol Community Group @ W3C 230+ Contributors Banks Central banks Payments companies Tech giants Consulting companies Blockchain companies
  45. 45. ● Banks ● Central Banks ● Tech Companies ● Blockchains Interledger Adoption
  46. 46. ● Banks ● Central Banks ● Tech Companies ● Blockchains Interledger Adoption
  47. 47. Sample of Ripple’s Customers 48
  48. 48. ● Banks ● Central Banks ● Tech Companies ● Blockchains Interledger Adoption
  49. 49. ● Banks ● Central Banks ● Tech Companies ● Blockchains Interledger Adoption
  50. 50. W3C Web Payments Working Group
  51. 51. W3C Web Payments Working Group Adrian Hope-Bailie Nick Telford-Reed
  52. 52. ● Banks ● Central Banks ● Tech Companies ● Blockchains Interledger Adoption
  53. 53. Blockchain and ILP Natively ILP-enabled ILP compatible
  54. 54. ● Banks ● Central Banks ● Tech Companies ● Blockchains ● You Interledger Adoption
  55. 55. “Dial-Up” Interledger
  56. 56. ILP-Enablement Also Known As The Right Way
  57. 57. Adoption To-Date Status: Not Great
  58. 58. Protocols Have Humble Beginnings Gotta Start Somewhere
  59. 59. Dial-Up Interledger
  60. 60. Dial-Up Interledger Connector
  61. 61. Dial-Up Interledger User Connector
  62. 62. Dial-Up Interledger ACH, SEPA, PayPal, ... User Connector
  63. 63. Dial-Up Interledger Cash User Connector
  64. 64. Separated Clearing & Settlement
  65. 65. Connect To Or Run An “ILP Kit”
  66. 66. Get Involved at Interledger.org
  67. 67. Get Involved at Interledger.org Find Me After to Get an Interledger Sticker ;-)

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