Ripple is focusing on creating a genuinely interconnected world: Marcus Treacher
Marcus Treacher, global head of strategic accounts at Ripple, recently appeared at the Blockchain Live event held in London. Joseph Lubin, co-founder of Ethereum, BlockOne CTO Daniel Larimer and Vanbex CEO Kevin Hobbs also joined the panel.
In the event, the panel was asked about their opinion on layer 1 and layer 2. In response, Treacher explained the Inter Ledger Protocol [ILP] and how Ripple is utilizing it for cross-border payments. He said that from the outset, Ripple has been focusing on solving issues in cross-border payments.
He went on to explain that during that process they came across a problem and realized that they cannot place or integrate the world on the blockchain. Since then, Ripple is concentrating on how to tie blockchain and the world together. The company adopted the Inter Ledger Protocol [ILP] as a solution.
“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 recreate that using cryptography in a kind of blockchain connected way,” Marcus stated.
He added that the protocol works because in the present scenario, one won’t “jump beautifully into a blockchain world” as everybody is living in a “very messy world.” He also stated that there will certainly be an availability of “islands of information and data of value.”
“If you could create an internet model for value, or for identity, then you’ve really got something because the open connectivity allow the absolute connect across,” he concluded.
Image via Shutterstock
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