Re: Use Cases from the W3C Web Payments Workshop

On Thu, 10 Apr 2014 13:13:50 +0200, Byrne, Preston  
<Preston.Byrne@nortonrosefulbright.com> wrote:

> Charles and others,
>
> I note there are no industrial banking use-cases here. I'm cognizant  
> that many users of cryptocurrency/alternative payment systems want to  
> disintermediate the banks, but there's scope for web-based payment  
> systems that interact with the capital markets for large-scale, capital  
> intensive investments - reducing overheads, improving access to capital  
> and lowering costs of funds. Bank buy-in could go a long way towards  
> promoting adoption.

Indeed. I certainly think that without bank buy in we will have more of a  
struggle than we need, and that there is a lot of value in making sure we  
don't somehow "kick the banks out of of the ecosystem" by design.

I think one of the things that happened is that people assume most bank  
use cases. And we may have been less careful in trying to capture them  
during the talks that were more relevant to these type of issues.

cheers

Chaals

> Regards,
>
> Preston
>
> -----Original Message-----
> From: Charles McCathie Nevile [mailto:chaals@yandex-team.ru]
> Sent: 10 April 2014 11:55
> To: Web Payments CG; Joseph Potvin
> Subject: Re: Use Cases from the W3C Web Payments Workshop
>
> On Thu, 10 Apr 2014 12:35:07 +0200, Joseph Potvin <jpotvin@opman.ca>  
> wrote:
>
>> RE: "in favour of the remittance use case"
>>
>> +1     For this reason I think "web payments" may not be the best
>> title, since its nuance is on the purchase of goods/service/rights but
>> does not notionally include remittances.  So far, however, I find that
>> more comprehensive alternative titles are also more mundane.
>
> Payment is giving money to someone.
>
> But I agree that the "person to person" use case is probably the most  
> important (rather than the one that can be left out for now).
>
> Apart from anything else, it is normally pretty trivial to build a  
> business payment system on top of one that works for transferring money  
> between individuals. But the inverse is often not true - and  
> specifically not true with most of the systems we have today.
>
> cheers
>
> Chaals
>
> --
> Charles McCathie Nevile - Consultant (web standards) CTO Office, Yandex
>        chaals@yandex-team.ru         Find more at http://yandex.com
>
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-- 
Charles McCathie Nevile - Consultant (web standards) CTO Office, Yandex
       chaals@yandex-team.ru         Find more at http://yandex.com

Received on Thursday, 10 April 2014 14:07:12 UTC