Ripple CTO: Blockchain Interconnectivity by Interledger Protocols Will Improve Payments Processes


  • David Schwartz, the chief cryptographer at American Fintech firm Ripple Labs, recently discussed various approaches and solutions for blockchain technology.
  • Schwartz explained how blockchain can be used for various use cases.

On Saturday, 8 June 2019, during the ‘We are Developers' conference in Berlin, the Ripple Chief Technology Officer (CTO), David Schwartz, talked about the need for a holistic change in payment processes and how purpose built blockchain technology will be beneficial to such change.

Bitcoin's Initial Purpose

Information is shared and spreads quite speedily and easily at the moment, however payments processes are not just there yet. This is due to the presence of third parties in the payment process which have not still be eliminated.

The emergence of Bitcoin (BTC) came with the purpose of decentralizing payment and the improvement of the entire payment process, but BTC has not totally achieved that yet, although other cryptocurrencies like Bitcoin Cash (BCH) and Ripple’s XRP are showing better progress in that aspect.

Ripple Solutions

The CTO also outlined how Ripple is trying to proffer solutions to this problem with its variety of projects based on the blockchain technology. In addition, he said that cryptocurrencies and blockchain tech have not eliminated this payment problem but only created “a newer sexier version of the same problem” which was the inability for blockchains to interact with one another.

Blockchains and Interledger Protocol

David Schwartz compared the blockchain technology with the emerging period of the internet, saying that most part evolved around Interledger Protocols (ILP), and the same has to be the case for blockchains, they must all be able to interact and communicate with one another, no matter how many they are. He said:

“I don’t know what people are going to use micropayments for… you can make a $1000 payment with a large number of micropayments and there are tremendous advantages to doing things that way…So kind of the same things that we do with routing, multipath, and VPN, and you can do all of those things with money and ILP.”

Micropayments Possible Future

He further stated that if his prediction for micropayments is accurate, there will be a boon in payment process solutions, which will in turn bring about the emergence of a multi-billion dollar industry centered on money-software operations.

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