Google’s decision to reform its browser-based payment system shows its intention to create a unified payment protocol to prevent fraud.
The new draft was supported by former Ripple talents and can take advantage of W3C ideas for browser payments.
- The Google move is still in draft form
- The tech giant remains cautious about cryptocurrencies
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New payment system is yet to be implemented in Chrome
Although Google has been cautious when using cryptocurrencies directly, the effect of distributed payment protocols has been increasing.
According to a recent report by Gizmodo, the technology giant is trying to create a new payment handler API that will initially launch on the iOS version of Google's Chrome browser.
Google has decided to suspend paid Chrome extensions and switch to an interoperable W3C standard that will launch on iOS first.
The new system will employ the ideas and efforts of Adrian Hope-Bailie, creator of Hyperledger and a former employee of Ripple.
While the proposal is still in draft form, the intention is to realize the new technology, based on the vision of the World Wide Web Consortium.
The optimistic view of this connection suggests that Ripple's ideas may find common ground with Google.
However, a more skeptical approach comes to the page suggested at the W3C Github, where the draft proposal is absent, replaced by a quote from science fiction writer Douglas Adams.
But hopes for this project were immediately taken as a sign that Ripple's ideas could take off, replacing several payment gateways and portfolios with protocol-level solutions.
Ripple currently has a nascent system that provides liquidity and connectivity outside the limits of the banking system.
As for payments in the browser, they are part of the growing trend of fintech solutions, which still undoubtedly face several failures, limitations and even fraud.
Google remains cautious about cryptocurrencies
It is not known to what extent Google is dedicated to the idea of reform. So far, Google has only connected to the W3C as a sponsor.
Google also partnered with Hyperledger last year to explore online identity tools.
However, in general, Google and its app store are skeptical of some crypto-based solutions, especially due to the possibilities of fraud or money laundering.
The store recently blocked MetaMask for a short time, affecting one of the most used ads for payments on Ethereum and tokens.
However, Ripple and XRP are hungry for any news of potential adoption as the company enters 2020 with an optimistic outlook.
Ripple has also consolidated its product and is one of the few companies in the crypto space to expand its team.
The XRP, however, remains relatively unmoved by the news. The asset rose to $ 0.23, but has not had a stronger recovery since the summer of 2019.
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