The Interledger Community 🌱

Cover image for Summer Update - AgnostiPay
Jasper Voorendonk - AgnostiPay for AgnostiPay

Posted on

Summer Update - AgnostiPay

Project update

As the summer comes to a close, we wanted to provide an update on the last quarter and the changes that have taken place.

For those who are new to AgnostiPay, we would like to introduce our project. Our goal is to go beyond the traditional Payment Service Providers by creating open-source decentralized software that enables users to become their own "Payment Service Providers", using their own Financial Service Providers such as banks and exchanges.

Through our SDK, users can access their financial services from any device, platform, or wallet service. Our direct core banking/financial service integrations allow for convenient multi-hop transactions, which enables demand-driven transaction volumes to flow toward the ILP network.

In essence, we provide practical tools that allow new users to conveniently join the ILP network by directly connecting their accounts to an ILP-enabled wallet or node service. If you want to learn more about how AgnostiPay's decentralized customer-centric tooling can benefit your ILP-enabled service, please reach out to us.

Progress on Objectives

As we transition from the Research phase to the Prototype Development phase, we have the support of a local and international community of developers, stakeholders, and interested parties. Our objectives are adapting to fit the new milestones, and we will provide more detailed updates on them soon. We have made slight changes to the original three objectives, which were to prove 1) technical feasibility, 2) Developer and community engagement, and 3) Business engagement. The "technical feasibility update" is now called the Technical Update, as we have already validated the core technical premises in the previous phase. In this section, we will share development updates, new technological insights, and added features to our tech stack. The other two objectives of Community Engagement and Business Engagement will also slightly change as we are adding a consortium of stakeholders and business service contracts. More on these changes in the future updates.

Technical Update
Even though summer is typically a slow time in Europe, it hasn't stopped the flow of creativity. We've had many discussions with developers both locally and internationally, and have received valuable insights and suggestions from members of the community and prospective companies. These have led to slight adjustments and added features that will improve the value and security of AgnostiPay technology, particularly with regard to key management and transaction Playbooks. For instance, the addition of provider-side playbook hosting creates additional incentives for Providers to actively use and contribute to the open financial ecosystem. We plan to share these insights with the community in the upcoming months. If you're interested in reading our Technical Whitepaper and getting early access, please contact us directly.

Developer & Community Engagement
We have attracted new developers through various channels such as events, emails, and direct messages, and we are grateful to ILF for featuring us. We engaged in both one-on-one and group meetings with developers to delve deeper into specific areas of our technology stack. We appreciate the experts and enthusiasts who shared their insights and knowledge with us. Some of these individuals were pioneers in the creation of online Payment Service Providers, serving as founders or CTOs of companies that have established themselves as industry leaders over the past two decades.

Furthermore, we've taken a step forward by establishing a consortium of local stakeholders who are keen on creating a public and decentralized payment infrastructure that empowers end-users. We'll share more details on this in the upcoming months.

Business Engagement
We're in discussions with several major companies to launch pilot projects within their organizations. The feedback we've received from C-level managers, product owners, and developers working at these companies has given us confidence that we're on the right track and can successfully execute these initiatives. We look forward to continuing our work with these organizations in the road map ahead.

What’s next, Planning:

One of the important next steps for the prototype phase is building the actual MVP SDK that can be directly used as a pilot within these prospective companies and can be played with by developers. This MVP SDK can showcase our product value to our local European community (or, broadly speaking, all countries that fall under the EU-wide PSD2 law). And direct fiat transaction volumes towards the ILP network.

Want to reach out directly?
Email: connect β€˜at’

Or follow other our socials here:
ILP community forum:

Top comments (0)