Stefan Thomas, ex-CTO and founder of Coil – a new blockchain payments and smart contracts layer built on the Interledger protocol and backed by Ripple – gave the opening keynote on Ripple’s ‘Codius’ just yesterday at the Crypto Valley Conference, Switzerland.

The Crypto Valley conference boasts over 650 attendees, with industry heavy hitters and sponsors such as Microsoft and Capgemini present. Ending today, the event, held in the Zug Casino in Switzerland, attracted attention not just for its high price-tag (CHF 1,300 per ticket) but also for the combination of speakers and potential industry partners. It would have been of particular interest to those present to have heard about the progression and potential applications of Ripple’s smart contract and ‘smart programs’ functionality.

Codius’ protracted launch as the smart contract layer for Ripple’s ledger technology has meant that a ‘re-launch’ of the technology occurred this May, despite originally being coded  and developed in 2014 by Ripple labs. One criticism of Ripple’s XRP and Interledger functionality has been the lack of easy access open-source development tools for blockchain and payment applications – something which has been celebrated on rival platforms such as Ethereum.

General market conditions and sentiment remain stubborn for such a conference announcement, with Bitcoin down nearly 6% this morning, and XRP trading at $0.51. However, with the recent limelight of Codius’ re-launch, and industry veteran Stefan Thomas commercialising the software with Coil, it will be very interesting to watch how this development for Ripple and XRP progresses, especially in a more positive market climate.

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