W3C home > Mailing lists > Public > public-webpayments@w3.org > April 2015

Re: decentralized wallets and payment processors

From: Melvin Carvalho <melvincarvalho@gmail.com>
Date: Tue, 7 Apr 2015 12:44:17 +0200
Message-ID: <CAKaEYhJPhjnnK5Gc7K68t6MS3ah6c3kpiVNEgp8MZz71LYNw2A@mail.gmail.com>
To: Anders Rundgren <anders.rundgren.net@gmail.com>
Cc: Web Payments <public-webpayments@w3.org>
On 7 April 2015 at 11:46, Anders Rundgren <anders.rundgren.net@gmail.com>
wrote:

> On 2015-04-07 02:40, Melvin Carvalho wrote:
>
>> I've been sketching out an implementation of a payment processor and
>> wallet system lately
>>
>> Turns out decentralized wallets are a really hard problem to solve
>>
>> Some thoughts I had:
>>
>> 1. A multi user wallet, seems to be roughly the same thing as a payment
>> processor, when in a decentralized environment
>>
>> 2. A decentralized payment wallet / payment processor should be able to
>> largely live in the browser
>>
>> Note: I'm looking at this from the perspective of crypto currencies to
>> start with.  Fiat may require more thought / work.
>>
>> Some questions:
>>
>> Would these two goals be desirable to the group, because it's what I'm
>> trying to create?
>>
>> Are there any technical barriers why this would be impossible using web
>> technology?
>>
>> Or is it out of scope for this version?
>>
>
> IMO, the #1 problem with decentralization is service discovery.
>
> The rest shouldn't be harder than for example PayPal.
>

I agree this is a major problem.  Fortunately linked data was designed
exactly to solve this problem, so I think this group has an advantage in
that respect.

My current thoughts are to allow the user to have have a wallet / payment
provider linked from their identity and the software will be able to follow
those links to get further information.  Specifically we've talked about
adding the comm : paymentProcessor predicate to the commerce ontology.


>
> Anders
>
Received on Tuesday, 7 April 2015 10:44:44 UTC

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