Ripple launches Interledger protocol to connect banks and blockchain

Further, ILP has no native token, so individual ledgers operating its protocol will still hold balances in their native units of account. ILP is also a bid to offer Ripples enterprise customers a solution that they argue maintains customer privacy, allowing users to keep aggregate transaction data off a public blockchain by using a connector to move funds between private versions of the Ripple network.

Connectors would facilitate transfers between ledgers, performing the same function that companies today might achieve with market makers when they exchange currencies for business purposes.