The co-inventor of Interledger and Engineer at the renowned cryptocurrency company, Ripple Foundation, Evan Schwartz spoke at the annual San Fransisco Blockchain Week (SFBW) 2018. Evan spoke about the computer concept of Interoperability and the focus of Ripple right now, Internet of Value.
The renowned cryptocurrency firm, Ripple spread the word about it on Twitter. “@_emschwartz spoke yesterday about the challenges facing interoperability and the potential it provides for building the #InternetofValue at #SFBW18 @SFBWOfficial.”
About the Speech
Evan Schwartz spoke about what interoperability in blockchain system, and the importance of the same in the ecosystem. It is well-known that the number of blockchain-based platforms and cryptocurrencies are increasing by the day. It is not sure, which cryptocurrency will witness a boom in its value. Furthermore, it is also not certain which cryptocurrency technology will align and get integrated into the other.
Blockchain interoperability tackles this issue. The philosophy of interoperability lies in blockchain (or any systems for that matter) to collaborate and integrate with each other and work in unison. Blockchain and decentralization as a concept will work only when technologies align with each other.
Interoperability enables a free flow of data and information across the various platform. Digital asset and token trading, and even the existence of multi-asset wallets are a result of this concept.
Evan co-invented the open source protocol Interledger for implementing this. It is developed by a group called the W3C Interledger Community Group.
Schwartz also talked about the Internet Of Value in the San Fransisco Blockchain Week 2018 Conference. Ripple has been promoting the idea of Internet Of Value around, in the crypto verse.
Ripple wants value (that is, money) to flow as freely, easily and securely as data and information flow today on the internet. Furthermore, it is quite notable that the transaction of money is really slow. It becomes even much slower, and expensive when it comes to overseas cross-border international payments. Ripple wants to tackle this issue with their blockchain ecosystem.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.