Explanation of what ILP is, what problems it solves, and how. Full presentation here: https://interledger.org/presentations/2016-07-06%20-%20ILP%20Workshop%20London%202016.pdf

1. Interledger
Stefan Thomas
An Overview

2. The State of Payments Is Sad.

3. Today’s Infrastructure
Low-Volume High-Value Slow Batch Payments
3
Designed for High Value or Batch Payments

4. A System From a Different Time
Photo by NASA

5. Where Is The Competition?
Photo: CountryStyle Photography

6. 6
Accepted Payment Methods
Prineta.com
Plenty of Innovation

7. But: Global Reach Is Prohibitively Expensive
7
Nostro account costs: liquidity, regulations, operations, risk and compliance

8. BACK TO
BASICS

10. Ledgers Track Accounts and Balances
Sender RecipientLedger
10

11. Central Ledger Model

12. Distributed Ledger Model

13. The World Will Never Agree
On One Ledger

14. Diversity Is A Good Thing
14
BlockchainACH Mobile Money Card Networks

15. But Why Is Everything Disconnected?
15
BlockchainACH Mobile Money Card Networks

16. How Is Money Transferred Across Ledgers?
16

17. We Know That There Must Be Local Transfers
17
Alice 100
??? 0
??? 110
Bob 0
100 110

18. Connectors Link Two Ledgers
Connector
Alice 100
Chloe 0
Chloe 100
Bob 0
100 100
18

19. address: "us.wf.bob"
amount: "1023.20"
When?
Why?
Interledger In One Slide (Really)

20. Bilateral Connections Don't Scale
20

21. Bilateral Connections Don't Scale
21
O(n2
)

22. Bilateral Connections Don't Scale
22
O(n2
)

23. Networks Do Scale
23
O(n)

24. Networks Do Scale
24
O(n)

25. Sending With No Direct Connection
25
O(n)

26. We Need Multiple Hops
26
O(n)

27. BUT HOW?

28. TO THE
WORKSHOP!
TO THE
WORKSHOP!

29. Learning From History

30. Internet: Network of Networks

31. The internet protocol implements
two basic functions:
addressing and fragmentation.
— RFC 791
“

32. Internet: Network of Networks
204.28.124.148
IP Address

33. Internet Architecture
IP
WIFI BLUETOOTH ETHERNET
Internetwork
Network
Transport TCP UDP
Application HTTP SMTP NNTP NTP RTP

34. Interledger
The protocol for connecting ledgers.

35. Interledger Architecture
ILP
ISO 20022
BITCOIN ETHEREUM
Interledger
Ledger
Application SPSP PPSP ...

36. Where?
How much?
Interledger In One Slide (Really)

37. address: "us.wf.bob"
How much?
Interledger In One Slide (Really)

38. address: "us.wf.bob"
amount: "1023.20"
Interledger In One Slide (Really)

39. address: "us.wf.bob"
amount: "1023.20"
expiry: "2016-07-06T09:00:10Z"
Why?
Interledger In One Slide (Really)

40. address: "us.wf.bob"
amount: "1023.20"
expiry: "2016-07-06T09:00:10Z"
condition: "cc:0:3:4a7DEpj8f9..."
Interledger In One Slide (Really)

41. Now We Can Support Longer Chains
41

42. The Interledger

43. BlockchainACH Mobile Money Card Networks
43
A Standard for Real-Time Payments Across Networks

44. Show us!