Re: Apple Pay - Security Description

On 10/3/14 5:50 AM, Anders Rundgren wrote:
> On 2014-10-03 11:21, Ricardo Varela wrote:
>> I may be missing something here. In my understanding what Apple has 
>> done is a (very smart, I give them that) EMVCo compatible 
>> implementation. The underlying capabilities are still Visa, 
>> Mastercard, AMEX et al, plus the bank network (eg: "the traditional 
>> payment industry") - I mean, even the spec was created by them
>>
>> My two cents: I still think its a bit difficult to have lots of 
>> groups continue pushing to "create an alternative" over structures 
>> that are not working yet, instead of "create a layer over what 
>> already works" and then "add an alternative implementation with the 
>> alternative". For innovation purposes, yes of course is a good thing, 
>> but for practicality/adoption/create momentum, not so much. Apple is 
>> big enough that they COULD have done an alternative and chose to do 
>> this instead - I may be wrong but maybe its a good thing to check why?
>
> My core message is that it only works well because it is Apple, nobody 
> else (of any significance) have implemented tokenization.

Yes, that's true. It is also a very good move by Apple. One to work 
with, rather than against.
Apple is using its might constructively, rather than destructively.

>
> Creating a Decentralized and Webby version of their scheme would be 
> great but there's (AFAICT) no push behind that, so for Secure AND 
> Convenient payments our alternatives are super-providers like Apple, 
> Google, PayPal and Alibaba.

We can make this ecosystem webby and symbiotic. Apple isn't an enemy, 
that's the first critical thing to understand en route to a what (I 
think) everyone seeks re., decentralized payment system driven by open 
standards.

Pondering Apple Coin too :)

Kingsley
>
> Anders
>
>>
>> Saludos!
>>
>> ---
>> ricardo
>>
>>
>> On Fri, Oct 3, 2014 at 6:44 AM, Anders Rundgren 
>> <anders.rundgren.net@gmail.com 
>> <mailto:anders.rundgren.net@gmail.com>> wrote:
>>
>> http://m.tuaw.com/2014/10/02/apple-pay-an-in-depth-look-at-whats-behind-the-secure-payment/
>>
>>     It is pretty clear that the traditional payment industry is YEARS 
>> after Apple.
>>     The missing link is a way combining Security AND Decentralization.
>>
>>     The latter is something the "Super-Providers" have no reasons to 
>> bother
>>     about since they don't need it.
>>
>>     So what's the problem then? The only people interested and 
>> *prepared* challenging
>>     the super-providers represent economically and politically 
>> insignificant entities.
>>     In addition, this lot is *highly divided* making alternatives 
>> poorly funded and marketed.
>>
>>     I'm a pessimist?  Well, where is your "brave" bank who gladly 
>> sinks a couple of million
>>     bucks in a risky high-tech project that their competitors can 
>> also use?
>>
>>     Anders
>>
>>
>>
>>
>> -- 
>> Ricardo Varela - http://twitter.com/phobeo
>> "Though this be madness, yet there's method in 't"
>
>
>


-- 
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