RE: Legacy systems vs blockchains - what is the spec impact?

> I guess (on thin ice here...) that a receiver (payee) looks into the
> distributed ledger for proof of transaction.

"I doubt that anyone seriously expects a mobile app to store a whole
block chain; in practice, a user of a blockchain system communicates
with a specialist, reducing the situation to federation."

The difference here is that the app in question could self-certify transactions with its own server using direct blockchain queries. The apps own server can install the bitcoind package and process confirmations itself. This is not a federated reliance on a large provider like Blockchain.info.

My main area of interest is in the user stories for developers and consumers. Obviously developers want to reach a broad consumer base, and today that includes mostly legacy credit/fiat systems of value transfer - that's just the reality. Given these business requirements, I completely agree that the standard must (and should) allow for all types of value transfer over N systems.

However, I wonder if we can allow for a more streamline flow, within the same set of APIs, if the dev or user chooses a payment type that does not require all the same steps as other value transfer systems. Maybe the proposals already allow for this, I need to do more investigation (talking through it at TPAC will help). In the end, my only desire is to arrive at a place where the standards we create do not impose needless steps on every value transfer system plugged into it, if that can be avoided (note: I am not saying what you currently have does this).

For now I'll do more research and get up to speed with all the material. I have nowhere near the level of insight I need to make any statements about the current work. Let me know if I've anything in error - after all, you have far more insight into the details of these proposals and what they must account for.

Thanks for the discussion thus far, I can't wait to learn more,

- Daniel


________________________________________
From: David Nicol [davidnicol@gmail.com]
Sent: Friday, October 24, 2014 7:59 AM
To: Anders Rundgren
Cc: Reutzel, Bailey; Manu Sporny; Eric Martindale; Web Payments
Subject: Re: Legacy systems vs blockchains - what is the spec impact?

On Fri, Oct 24, 2014 at 1:57 AM, Anders Rundgren
<anders.rundgren.net@gmail.com> wrote:

> I guess (on thin ice here...) that a receiver (payee) looks into the
> distributed ledger for proof of transaction.

I doubt that anyone seriously expects a mobile app to store a whole
block chain; in practice, a user of a blockchain system communicates
with a specialist, reducing the situation to "federation."


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Received on Friday, 24 October 2014 18:14:16 UTC