W3C home > Mailing lists > Public > public-webpayments@w3.org > November 2014

Re: Just off the wire

From: Rene Bartsch <ml@bartschnet.de>
Date: Sat, 01 Nov 2014 10:49:50 +0100
To: Web Payments <public-webpayments@w3.org>
Message-ID: <476c12358bc76886afbb134215150c88@triangulum.uberspace.de>
Am 2014-11-01 01:25, schrieb Pindar Wong:
> http://www.coindesk.com/wc3s-web-payments-redesign-bypass-bitcoin/ [1]
> 
> 
> Links:
> ------
> [1] http://www.coindesk.com/wc3s-web-payments-redesign-bypass-bitcoin/


Current payment systems have 4 drawbacks:

- Fragmentation of currencies (USD, EUR, ...)
- Fragmentation of payment providers (PayPal, Mastercard, VISA, local 
banks, ...) with different concepts and data sets
- Manipulation of accounts
- Only trustee accounts

The complexity of (currencies x payment providers = oo) renders existing 
payment systems unusable in a global network. I don't see a chance to 
pack all that currencies and payment providers with different systems 
into one API/GUI. It doesn't solve the manipulation of accounts, either.

A Bitcoin wallet integrated into browsers on the other hand solves all 
three problems:

1. Users buy Bitcoins and transfer them to their browser wallet -> only 
one currency
2. Blockchain -> ONE global payment system ANYONE can join
3. Blockchain -> no manipulation of accounts/malicious trustees

Considering the "ambitious" interest group roadmap I suggest partnering 
up with Mozilla to integrate a Bitcoin wallet into Firefox and show the 
W3C what's technically possible.

-- 
Best regards,

Rene "Renne" Bartsch, B. Sc. Informatics
Received on Saturday, 1 November 2014 16:03:40 UTC

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