Re: Web Credits Writeup

In OpenTransact we use to/from instead of source/destination as it's more
concise seems more human like, is similar to SMTP and matches what is used
in many different implementations of proprietary APIs.

It's simple of course to support both is to just check for both. I'd like
to see OpenTransact as being the lower level payment layer for PaySwarm.

The Transfer Request and Transfer parts of the spec would be very simple
for you to implement:

http://www.opentransact.org/core.html#transfer-request-1

On Get you would just pre populate the payment fields in your existing
payment form with the parameters from the query string.

The transfer should also be fairly simple as long as you support the OAuth
2 bearer spec:

http://www.opentransact.org/core.html#transfer-1

Just accept the parameters as URL form encoded form as well and it is
pretty much OpenTransact compliant.

Transfer Authorizations are fairly simple to implement as long as you can
create an OAuth token within your implementation that has some sort of way
of specifying scope. eg. amount, from, to etc.

OAuth 2 is pretty lightweight to implement. You could implement it from
scratch in a json store by storing transfer json objects with an extra
expiry field and a unique token which would act as the access token. Store
this in the "authorization" store in your json store.

In the POST to the wallet URL you would see if there is a bearer token in
the authorization header and look up the json in the authorization store
using the token.

An empty post would by default use all the parameters stored in the
original authorization and delete it from the authorization store.

POST parameters could be used to modify certain aspects of the original
authorized parameters within business rules in the spec. Such as change the
amount to $8 instead of the authorized $10.

Sorry if this was rambling, it was just a quick brain dump.

P


On Tue, Jan 24, 2012 at 12:27 PM, Melvin Carvalho
<melvincarvalho@gmail.com>wrote:

> On 24 January 2012 16:22, Pelle Braendgaard <pelle@stakeventures.com>
> wrote:
> > Great simple spec.
> >
> > I realize that this was based on PaySwarm and not OpenTransact. But with
> a
> > couple of parameter name changes it would be OpenTransact compliant. Also
> > I'd suggest you have a URL form encode option to make it simple to
> integrate
> > with web forms.
>
> I'd be very happy to try and make the base layer both payswarm and
> opentransact compliant.
>
> Could you give an example of how you think this could be done.
>
> Do you mean a translation service that takes an HTTP GET + OAuth token
> and transforms it to a POST and preserves the token?
>
> >
> > BTW I love the Tim Berners-Lee quote on the page, which is exactly we
> have
> > made the design choices we have made in OpenTransact:
> >
> > "The way the Web spread was a piece at a time. So you could take html
> > without taking http. So the failure of NEXT was a lesson, don’t try to
> sell
> > it all at one time. Sell each piece on its own merits. Never insist that
> > everybody take all. They will take all the pieces once they see how it
> fits
> > together."
> >
> >
> > P
> >
> > On Fri, Jan 20, 2012 at 4:47 PM, Melvin Carvalho <
> melvincarvalho@gmail.com>
> > wrote:
> >>
> >> Here's a quick writeup of what I previously posted as the opentabs
> >> protocol.  I've codenamed it 'Web Credits' for now and put it on the
> >> wiki.
> >>
> >> Introduction
> >> ==========
> >>
> >> Web Credits is an ultra simple system for storing and transferring
> >> IOUs (credits) between agents.
> >>
> >> *The aim of this spec is not to exceed 2 pages*, be usable to create
> >> distributed payments, and arbitrarily extensible to add encryption,
> >> workflow, trust and aggregation systems of your chosing.
> >>
> >> 95%+ of the money in the world is in the form of an IOU. A bank
> >> balance is an IOU from the bank to you, Cash is often an IOU from a
> >> govt. to an individual.
> >>
> >> The protocol is inspired by the Linked Data and PaySwarm standards,
> >> and is a usable subset that focuses on the data layer (JSON) and
> >> communication to apps (HTTP).
> >>
> >> [Read More]
> >>
> >> http://webcredits.org/
> >>
> >
> >
> >
> > --
> > http://picomoney.com - Like money, just smaller
> > http://stakeventures.com - My blog about startups and agile banking
>



-- 
http://picomoney.com - Like money, just smaller
http://stakeventures.com - My blog about startups and agile banking