Whiteboard Video Part 3: Interoperability
There is not going to be one blockchain currency to rule them all. There are going to be many networks - like Ethereum and Bitcoin and Ripple. Furthermore, there will be legacy systems like traditional banks, running on older protocols, and older settlement networks like ACH and so forth. These systems all speak their own languages and have their own business logic and rules. Currently, it's very difficult for Ethereum and Bitcoin to understand each other. This is even more true for the old banking networks which have the added requirement of metadata and attribution for transactions. Interoperability is the idea of allowing networks to interact with each other - easily and securely.
The problem is that when we don't…