In a talk with Clem Chambers, Dan Aranda, the Managing Director of Ripple’s Xpring, spoke about Ripple’s place in the Internet of Value. He believes that the protocols of the Internet of Value will be a part of the services that we use on a daily basis.
He said that the Internet will be a “new” one, and that money and value will be directly embedded into it. He said:
“…we really think that Bitcoin, XRP and these new protocols are going to be able to accomplish that to bring that down even a level further.”
He views the Internet of Value as similar to how the Internet works, with common protocols communicating data and information. He said:
“We think a lot of the inner body is going to operate in a similar way where you’re having servers like validators and miners actually being able to communicate with each other and they’re really confirming kind of the movement and the creation of a value and and of money.”
The internet bridges how protocols communicate with each other said Aranda. With Ripple’s focus on payments, he said they are exploring the idea of packets of information and data being sent around the Internet. He elaborated:
“The Internet of Value will have a similar kind of architecture but it will be sent around as money will be value…we almost view payments as kind of this connective tissue to whatever this new kind of Internet is”
He went on to speak about the Gates Foundation producing an open source payment system for emerging markets. He also spoke about the whitepaper for the project and described payments as a connective tissue to financial service ecosystems.
He also spoke about the general structure of a financial service ecosystem. They require the ability to hold accounts, as it is “core to financial services but also just to Internet services in general”. He said:
“We think payments really matters for finance really matters for the internet but it’s actually going to kind of recreate the actual fundamental architecture of the internet as well.”