Chris, how do you define the Internet of Value and what are your views on the realization of the Internet of Value? Many of these aspects come from some of your early path-finding work, which you also know, all valuable Everything can be traded.
It’s like budding, but if you do some review, If you look at the real problems in today’s world You will know that many people point out that globalization does not benefit ordinary people as you know it. And we would say No, it is not that it has not benefited ordinary people, but it is still developing and incomplete.
Therefore, this may be because mobility requires interoperability. There are three core issues: data, Commodities and transportation and funding. The problem is, Obviously, the Internet only has data interoperability.
Since the 1950s, containers have been used for transportation, Realize the interoperability between ports, the interoperability of transferring to trains and trucks. However, there is no financial interoperability. Funding network There is no mutual operation. If this is achieved now, billions of people will truly To some extent enter the global system. This is our job. I think this is what we are trying to build.
I think this need is extremely obvious at present, because your company has a very simple Infrastructure or no infrastructure, in the area of its business. If you talk to people from the Gates Foundation, they do a lot of work, In terms of financial infrastructure, worldwide.
The big thing they are trying to accomplish is to make People can send in as little as 50 cents. You know, some people in developing countries, If they really want to participate in the global economy, It is impossible now. I mean, its impossible to send 50 cents from the US to Europe. Because of various expenses, it was consumed.
50 cents is not cash, but in this world, This Internet of Value combines things like ILP and XRP, which is absolutely possible. This kind of world, you know So smooth, so fast, it completely changed economics.
So, these billions of people who need to send 50 cents, think about trillions of devices and codes, Need to be able to send, you know, One ten-thousandth of a penny.
This is also achieved through what we are doing, so it is quite exciting. I think the vision is to enable the international Payment becomes as cheap and easy as opening a webpage. Just like you don’t even need to think about its mechanism and cost when doing it, There is no need to know who is going to do what.
This is all done automatically, with low cost, High flexibility; a lot of these things are happening silently. You would not even consider doing this. Yes, it’s almost like Value flows with data, and the two support each other and merge into one. This is a world we can achieve, but not with our current infrastructure.
You already have a certain kind of Internet world, you are already dealing with a certain kind of former Internet funding world, and these things are not in order.
This is a big bottleneck in this world, we can promote this world, This is exactly what we are doing.
Blockchain is not the only answer, it is part of the solution, and the broader solution will This value The interoperability protocol is combined with extremely fast and efficient digital assets and provides a mechanism to design This way of value circulation. you.
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