Ripple CTO Says Blockchain Is a Complex Technology Than Interledger
In his new piece on Medium, Ripple CTO Stefan Thomas has explained why he thinks blockchain is a complex technology when compared with the Interledger Protocol. In his recent post, he said: Blockchains are a pain to work with. Everyone who has done it knows what I’m talking about. The fact that blockchain has been largely ignored by major tech companies and embraced by the financial industry is partly because that industry has a relatively high tolerance for arcane and complex systems. The open-source developer and distributed systems advocate who has been working on Interledger, cite the....
Related News
Ripple Labs has created a lot of interest in blockchain technology with its Interledger Protocol (ILP), including from Apple and Google, according to the International Business Times. The ILP could be bringing the technology to more widespread use. Ripple serves as co-chair of W3C’s Web Payments Working Group, putting the company in regular contact with technology providers. Stefan Thomas, Ripple’s chief technology officer, said Apple, Google, Mozilla and other players are seeking a better user experience for web payments, considering the issues they face relying on card networks. Tech....
Microsoft has issued an update on the progress of its blockchain toolkit offering, revealing it is exploring how to add Ripple's Interledger protocol as it seeks to enhance the service. First announced in October as an update to its Azure cloud computing platform, Microsoft's BaaS offering currently allows developers to deploy private and semi-public blockchain networks on Ethereum and otherwise experiment with the decentralized application platform. In a new blog post, Marley Gray, Microsoft's director for technology strategy in US financial services, expanded on the program and its....
Ripple Labs shortened its name to Ripple this week, a move which according to company officials, signals its products are now "out of the lab" and ready for use. Long one of the more well-funded startups in industry, Ripple was arguably the first to focus on use cases for distributed ledgers, introducing an alternative ledger that deviated from bitcoin's method for consensus and featured its own unique digital currency, XRP, as early as 2012. Since then, Ripple has increasingly put forth in its public messaging that it is seeking to realize an "Internet of Value", a term that denotes a....
Following the Commonwealth Bank of Australia's (CBA) move to partner with Ripple Labs in using blockchain technology for its offshore transactions, other banks in Australia joined the bandwagon. Westpac and Australia New Zealand Banking Group (ANZ) are also working to test payment technology offered by Ripple Labs. According to Westpac, it is in the early stages of a proof of concept using the Ripple network in which staff are making low-value international payments to two other countries. ANZ is still in the middle of constructive conversations with Ripple and is in the process of....
The Royal Bank of Scotland (RBS) is working in tandem with Ripple Labs in its 3.5 billion GBP technological revamp. In particular, the London bank is looking into the proof-of-concept technology offered by Ripple in order to prevent IT failures from losing transaction records. This was announced by the bank's administrative officer Simon McNamara during a webinar, following a technological glitch that caused 600,000 payments to disappear. RBS said the affected payments to and from customers' accounts would be made by Saturday at the latest, as account holders bombarded the bank with....