Streaming Payments and the Future of Interoperability, MIT Bitcoin Expo ‘18

Sathya Peri
May 2, 2018 · 3 min read

Talk given by Evan Schwartz

Evan Schwartz is the co-inventor of the Interledger Protocol. He spoke on Day 2 of the MIT Bitcoin Expo.

Websites have multiple different payment methods

Common Question — Do you have Venmo? → Are we on the same payment network?

Payments at their core are disconnected.

banks !=<> blockchain !=<> mobile money

Architecture of the Internet

hourglass architecture

Fundamentally disconnected → the Internet Protocol (routing layer) connects the various networks (Wifi, Bluetooth, Ethernet) to the transport layer, then to the application layer

Interledger Protocol (ILP)

Applying the Internet’s design to enable streaming payments across every payment network

Architecture of Interledger

similar to Internet architecture

Bottom layer = systems of value = blockchains, banks, payment channels. Interledger connects various ledgers to the transport layer, then to the application layer

What ILP can do? Enable streaming payments

Subscription models

Pay per use

*user experience needs to be good* for pay per use services

Simple payment channel update

Interledger spun out of Ripple
What can you do?

ILP Boston Community Meetup —

Video Link —

If you liked what you read, give us a few claps 👏👏👏 maybe 50 if you’d like ❤️❤️❤️ Follow @MITBitcoinClub and @gosathya on Twitter. More coming soon!

MIT Bitcoin Club Blog

MIT Bitcoin Club

Sathya Peri

Written by

energetic. determined. curious.

MIT Bitcoin Club Blog

MIT Bitcoin Club

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade