The Ability to Settle Value on Permissioned Blockchains is a Game Changer – Where Are We With This?
At LBC, we have been following interoperability, on a number of fronts, for a long time. Interoperability will allow the Food Trust Suppliers to get paid for the lettuce, eggs, olives, etc that they deliver automatically, via chaincode, and in real time.
The ramifications of this are very far reaching and we will go into them much more deeply in our series on the topic. For here – we want to post this latest news surrounding Corda transacting (by all appearances) with XRP. This is a large step forward in the ability to settle value (rather than just assign value) when transacting on a permissioned blockchain.
Corda, a part of the Hyperledger project in 2016, is rolling out this payment solution tied to the Ripple protocol. Meanwhile, Hyperledger is getting closer with their solution, Hyperledger Quilt, which is based on the Interledger protocol (also connected to Ripple).
The main takeaway is that this is clearly a high priority in the permissioned blockchain space, and that progress is being made weekly it seems. Add to that the amount of focus being given to these platforms by IBM, Oracle, AWS and MS; and it is clear to see that behind the bears is a ton of infrastructure development. We will update as things happen……..