I'm in support for @oyiptong's proposal and think that we should work as a separate spec in the WG.
As @oyiptong has mentioned at the presentation of TPAC 2017, this proposal will help reducing the activation cost for the merchants and can be easily adopted in market. Also this proposal seems to use generic encryption algorithm, which it doesn't seems to cause a detrimental effect on interoperability.
Also I'm in support for this because I personally think that security architecture and methods should be opened to public, rather than being in private structure and manner by specific security solution provider.
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