Payment systems continue to evolve as companies seek faster and easier ways to move money. Users want simple transactions. Businesses want networks that connect without delays. This quest for better communication between systems brings new standards to light.
SMQKE (@SMQKEDQG), a well-known cryptocurrency researcher, highlighted an example involving Ripple technology and a recent update of Apple Pay.
A clear solution for isolated payment networks.
The attached document explains an important problem in digital payments. Many networks operate in isolation, without connecting well with others. Transfers can take days, and international payments can take even longer. The text states that Ripple's Interledger protocol presents a solution to this problem.
The protocol forms a bridge between different ledgers. Each ledger that joins the network sets up an endpoint with an Interledger address. This step allows any connected ledger to send values to another with ease. The text describes this as 'a network of networks.'
Institutions that join only need to communicate with their own Interledger module. Once connected, they can transfer payments to any other ledger in the system. This setup eliminates friction in payment systems.
This also allows older digital systems and modern blockchain systems to operate together. The process becomes simpler for banks, payment providers, and users.
Update on Apple Pay and its connection with Interledger
The attached text also mentions a key point about Apple Pay. It says: "The recent update to the Apple Pay system introduces the Payment Request API." It then notes that the update also introduces Ripple's Interledger Protocol.
This is important because Apple Pay holds a large share of the mobile payment market. Millions of people use Apple devices. When such a large system adopts a new protocol, developers and merchants tend to pay close attention. The document highlights Apple's influence over a large portion of the general public, and this integration could introduce XRP to that market.
XRP and the Interledger protocol will gain significant visibility through a service that many consumers use daily. People do not need to change their habits. They simply continue using Apple Pay. XRP will gain visibility without requiring users to learn a new system.
How this can help in the price growth of XRP
The article notes that the increase in the use of the Payment Request API could make XRP the first cryptocurrency to achieve widespread use. The Interledger Protocol does not require XRP for all transfers. However, this growth may attract more attention to the digital asset.
As more companies develop systems connected to Ripple's technology, confidence in XRP may increase. Greater confidence generally leads to higher trading volume. More intense activity can sustain price growth over time.
Remember folks, that nothing said here represents a recommendation to buy, sell, or hold assets.
Thank you all!
