This article was first published on: Insights – Ripple --
An important and highly relevant question has emerged in the financial industry: How does blockchain technology help institutions easily connect to the increasingly diverse types of payment networks?
In our view, the ideal global payments network works just like the internet does — by using a common language to connect disparate systems.
In the nascent stages of the web, there were different standards for networking or connecting computers. It wasn’t shrewd to get rid of each standard — there was a purpose for each one. Instead, it was better to preserve and connect them with a common protocol.
All ledgers should work the same way and use a simple, common language so that money can move around the world real-time, much like information does today — enabling the Internet of value.
Interledger Protocol is driving interoperability
There is a global technical standard that provides this level of interoperability: The Interledger Protocol (ILP). ILP can connect any network or payment syste...
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