Ripple Labs has created a lot of interest in blockchain technology with its Interledger Protocol (ILP), including from Apple and Google. 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.
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. The Interledger Protocol offers these technology players a good solution to the issues that card networks entail. Thomas said the big tech players “absolutely hate” the card issuers since they have to share market power with them. Most of the technology players’ angst is directed at Visa, Thomas said, whose Visa Checkout currently competes directly with PayPal, Worldpay and other user-facing systems.