Software engineer at Ripple, Evan Schwartz has recently given an interview on payment systems during an event within the framework of Blockchain, Bitcoin and Cryptocurrency Club for students of Harvard Business School with the media sponsor of blockpulse 360.
Schwartz, who also works on the Interledger Protocol of Ripple, mainly talked about his own views on the payment system during the interview. He also gave some information regarding different projects of the company and shared some recent updates.
When asked about IntelliJ, Schwartz confirmed that the project was developed at Ripple and currently has a team which works on it full time. “Interledger project does not believe in only making money. The project involves no token and no blockchain. It’s a standard effort between different companies for standardizing this protocol”, explained Schwartz.
He was also asked the Interledger protocol itself and its benefits. To this question Schwartz replied stating that the protocol “channelizes data packets across different information networks. In my opinion, the network may be a blockchain network, individual blockchain like Ethereum and a payment channel networks like Lightning. Finally interledger is about routing packets of money across those”.
While talking about the applicability of the idea of streaming payments, Schwartz stated “we like to bundle them up, we prefer monthly subscriptions to individual payments… Business organisations also tend to bundle up payments since they’re pain, they’re slow, and they’re costly.”
The final thoughts on the project concerned on people’s involvement in the project. Schwartz informed that all the details of the project are available on interledger.org and that the key involvement include presence of a mailing list, weekly welcoming phone/ skype calls as well as different meet-ups. “There are lots of different ways to get involved and I think lots of opportunities as well”, concluded Schwartz.