More

    Marcus Treacher Says Ripple's Inter Ledger Protocol (ILP) Hopes to Build a Better Interconnected World

    Ripple is clearly expanding all over the world. This can be seen with the latest products and services it has launched to the market. According to Marcus Treacher, Global Head of Strategic Accounts at Ripple said that the company is working in order to create an interconnected world.

    During the Blockchain live event in London, he spoke about different topics regarding Ripple, the payments industry and cryptocurrencies. He has also explained how Ripple is using blockchain technology to enhance cross-border payments.

    One of the most important things he said is that Ripple is focused on solving different existing problems in the cross-border payment industry. Indeed, the company has developed different products that allow individuals and small and medium enterprises (SEMs) to send and receive money fastly and paying fewer fees than with other systems.

    However, he mentioned that they realized that hey couldn’t integrate the world on the blockchain. Because of this, they started to search for a way to connect the world with the blockchain.

    One of the many different solutions that they fond is currently known as the Inter Ledger Protocol. About it, he mentioned:

    “An interesting model that we are really big fans of that we’ve actually adopted is the Interledger model. The idea is that you take the design of the internet for information and you kind of create that using cryptography in a kind of blockchain connected way.”

    Additionally, he explained that Ripple connects banks and financial institutions in this way. Something that has helped different companies and individuals all over the world.

    Moreover, he said that the protocol works because there is nobody able to go into the blockchain world in a very easy way. Treacher went on explaining that the main intention is to interconnect everything.

    “If you could create an internet model for value, of for identity, then you’ve really got something because the open connectivity allow the absolute connect across” he mentioned.

    Ripple would be hosting the Swell event on October 1st. Some important figures such as former US President Bill Clinton and IMF’s Deputy General Counsel, Ross Leckow, will be present as well. Participants will be debating about the payments industry and how to improve it as a whole. Furthermore, Ripple could be unveiling its xRapid product, something that the community is asking for.

    The pilot tests of this product showed that transaction times and fees were strongly reduced.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,367FansLike
    2,785FollowersFollow
    4,134FollowersFollow

    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    General Motors (GM) Files Blockchain-Based Map Network Patent for Autonomous Vehicles

    General Motors (GM) plans to build a self-updating navigation system on blockchain to allow use across “specific roads” on autonomous vehicles. In a newly...

    BTC Proposes a Greater Value Than Gold; $670M Transferred For 26 Cents Within Its Network

    Bitcoin’s value proposition in fund transfers is so far one of the most cost-friendly avenues to send money globally. A recent transaction within its...

    COVID-19's Impact On The Economy Claims Another Business as Cambrial Capital to Shut Down

    Cambrial Capital which focuses on a Crypto fund of funds is set to shut down its operations in the near future according to insiders...

    Apple’s New Intelligent Prevention Tracking (ITP) on iOS Threatens Burner Wallets Existence

    Apple’s recent upgrade on the Safari WebKit might soon phase out the convenience of burner wallets within the cryptocurrency space for its users. ...

    Galaxy Digital's Mike Novogratz: This Is The Year For BTC Or I Might ‘Hang Up My Spurs'

    Bitcoin proponent, Mike Novogratz is still “most excited” about the world's leading cryptocurrency but “if it doesn't go all out by the end of...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.