An important achievement for the crypto community has been marked recently – the launch of the very first fiat InterLedger Protocol (ILP) connector.
This is expected to be a massive step towards interoperability with traditional financial systems.
ILP Summit 2019 demo
During the ILP Summit 2019, the first ILP-Fiat connector was revealed by Stronghold.co.
In a presentation made by Stephen Thomas, the co-founder of InterLedger, a streaming payment demo has been performed right there at the summit.
EthereumWorldNews reports that the payment method impressed the audience at the event.
According to XRP Research Center, the ILP fiat system “could be a huge step forward towards interoperability with traditional systems and critical mass adoption.”
Vanessa Pestritto, director at Xpring, posted about the event, expressing her excitement of this adoption driving development.
Ripple has been working really hard lately to promote the adoption of its products and things have been going well, but maybe not as good as expected.
The launch of the ILP could make it easier for financial institutions to deal with crypto and fiat.
https://twitter.com/XrpCenter/status/1114679821290934272
ILP, a global payment system
David Schwartz, the Chief Technological Officer at Ripple, is convinced that the ILP would eventually become a global payment system.
Back in 2018, Schwartz said, “by connecting bank ledgers and existing infrastructure investments via ILP, banks are taking the first steps in improving global payments today — and in enabling a true Internet of Value.”
#StreamingPayments @Interledger #demo by @kava_labs @KevinJYDavis swap BTC, ETH and XRP using Interledger SDK Switch pic.twitter.com/e3qpD0xzEQ
— Vanessa Pestritto (@vanessadice) April 5, 2019
XRP still undervalued
NewBTC reports that ILP is definitely what will eventually bring value to the largely fragmented blockchain.
“With optimism around interoperability, we expect Ripple (XRP) prices to increase towards 80 cents,” they write.
They also report that even if XRP surged during the latest bull run, the coin is still pretty much undervalued these days and it did not satisfactory tap Bitcoin’s price revival from last week.
The online magazine writes that bulls are expected to be in charge and also offers candlestick arrangements and technical indicators.
