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Interledger Internetworking for Money Evan Schwartz Engineer at - PowerPoint PPT Presentation

Jan 25, 2024 •375 likes •873 views

Interledger Internetworking for Money Evan Schwartz Engineer at Ripple Co-Inventor of Interledger Payments are broken. Accepting Payments in a Turkish Starbucks Accepting Payments Online Accepting Payments Online Payment Methods Accepted By

  1. Interledger Internetworking for Money Evan Schwartz Engineer at Ripple Co-Inventor of Interledger

  2. Payments are broken.

  3. Accepting Payments in a Turkish Starbucks

  4. Accepting Payments Online Accepting Payments Online Payment Methods Accepted By Prineta.com

  5. The World Will Never Agree On One Ledger

  6. Payment Networks Are Disconnected Banks Blockchain Mobile Money Online Wallets 6

  7. Information networks were disconnected too

  8. Internet

  9. in·ter·net·work·ing noun The interconnection of two or more networks so as to form a larger network.

  10. How Do We Fix Payments? Banks Blockchain Mobile Money Online Wallets 10

  11. Internetworking For Money Banks Blockchain Mobile Money Online Wallets 11

  12. Interledger The protocol for connecting ledgers

  13. Internetworking Ingredients: 1. Routers 2. Multi-Hop 3. Address + Packet 4. Routing Protocols

  14. Internetworking Ingredients: 1. Routers 2. Multi-Hop 3. Address + Packet 4. Routing Protocols

  15. Connectors Link Two Ledgers Connector EUR USD

  16. Connectors Exchange Currencies EUR USD Alice 100 Chloe 107 Chloe 0 Bob 0

  17. Bilateral Connections Don't Scale 17

  18. Bilateral Connections Don't Scale O(n 2 ) 18

  19. Bilateral Connections Don't Scale O(n 2 ) 19

  20. Networks Do Scale O(n) 20

  21. But There Isn't Always A Direct Connection O(n) 21

  22. We Need Multiple Hops O(n) 22

  23. Internetworking Ingredients: 1. Routers 2. Multi-Hop 3. Address + Packet 4. Routing Protocols

  24. Multi-hop is trickier with money than with data.

  25. Correspondent Banking: Optimistic Execution EXECUTE

  26. Correspondent Banking: Optimistic Execution FAIL

  27. Interledger: Two-Phase Execution Secures Multi-Hop Transfers 1. PREPARE REFERENCES J. Poon and T. Drya, The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments , 2015 S. Thomas and E. Schwartz, A Protocol for Interledger Payments , 2015

  28. Interledger: Two-Phase Execution Secures Multi-Hop Transfers 1. PREPARE 2. EXECUTE REFERENCES J. Poon and T. Drya, The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments , 2015 S. Thomas and E. Schwartz, A Protocol for Interledger Payments , 2015

  29. Internetworking Ingredients: 1. Routers 2. Multi-Hop 3. Address + Packet 4. Routing Protocols

  30. Interledger In One Slide { destination_account: "us.usd.chase.bob.car" destination_amount: "5.99" }

  31. Internetworking Ingredients: 1. Routers 2. Multi-Hop 3. Address + Packet 4. Routing Protocols

  32. Connectors Broadcast Rates to Populate Routing Tables { "ledger": "peer.-vcNd.eur.", "account": "peer.-vcNd.eur.KRixgcBCBd...", "data": { "method": "broadcast_routes", "data": [{ "source_ledger": "peer.-vcNd.eur.", "destination_ledger": "peer.oTnBF.usd.", "points": [ [0, 0], [100000000, 107195180] ], "min_message_window": 1, "source_account": "peer.-vcNd.eur.Y_luxphkAy..." }] } }

  33. OUR INSPIRATION The History & Architecture of the Internet

  34. Internet Architecture Application HTTP SMTP NNTP NTP RTP Transport TCP UDP IP Internetwork Network WIFI BLUETOOTH ETHERNET

  35. Interledger Architecture Application SPSP HTTP-ILP PAYTORRENT Transport SSP PRP ILP Interledger Ledger BITCOIN ETHEREUM RIPPLE

  36. Interledger Internetworking for Money

  37. DEMO Making an Interledger Payment

  38. Broken payments are breaking the Web

  39. When an online service is free, you're not the customer. You're the product. Tim Cook, CEO Apple 39

  41. Few Can Convince People to Pay with Credit Cards

  42. Marketplaces Collect Payments, Take Large Cut of Profits 42

  43. Peer to Peer Model Needs a Neutral (Micro)Payment Protocol 43

  44. Interledger Internetworking for Money

  45. Internetworking increases connectivity and competition

  46. Internetworking lowers costs to enable new use cases

  47. Interledger Project KEY FACTS Banks Central banks Payments companies Tech giants Consulting companies Blockchain companies Open Protocol Community Group @ W3C 220+ Contributors

  48. Help Us Connect the World's Ledgers! Banks Blockchain Mobile Money Online Wallets interledger.org @interledger 48

  49. Find Me After to Get an Interledger Sticker Get Involved at Interledger.org And To Learn About “Dial-Up” Interledger

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