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Re: The Payments Architecture within which a Web Payments Architecture occurs

From: Joseph Potvin <jpotvin@opman.ca>
Date: Fri, 15 May 2015 01:02:19 -0400
Message-ID: <CAKcXiSrYCSLGZZKXn_aALh21WW6qodAdJ-atLsMpj4gUaFHApw@mail.gmail.com>
To: Manu Sporny <msporny@digitalbazaar.com>
Cc: Web Payments CG <public-webpayments@w3.org>
I think most of these principles are relevant to the W3C WP IG work as
significant business req's (i.e. they make a difference), and I think the
W3C WP IG can help to advance several of them (i.e. the W3C can make a
difference).

(I make the same statement about the other core standards I've mentioned.)

I'll need to pick this up tomorrow if I'm to pick out specifics however.

Joseph



On Fri, May 15, 2015 at 12:28 AM, Manu Sporny <msporny@digitalbazaar.com>
wrote:

> On 05/14/2015 11:48 PM, Joseph Potvin wrote:
> > The 24 Principles are explained in detail in that document under these
> > headings:
>
> Thanks Joseph, that helped me understand what you were asking us to do.
>
> In general, I think that there may be a disconnect wrt. what the Web
> Payments Architecture is doing (specifying a technical architecture of
> how to run a payment over the Web) and what the BIS Principles for
> financial market infrastructures is doing (specifying an operational
> architecture for running a Financial Market Infrastructure). There is
> very little overlap, imho.
>
> For example, browsing through the document, I don't see any overlap in
> these areas:
>
> > Principle 1: Legal basis
> > Principle 2: Governance
> > Principle 3: Framework for the comprehensive management of risks
> > Principle 4: Credit risk
> > Principle 5: Collateral
> > Principle 6: Margin
> > Principle 7: Liquidity risk
> > Principle 9: Money settlements
> > Principle 10: Physical deliveries
> > Principle 11: Central securities depositories
> > Principle 12: Exchange-of-value settlement systems
> > Principle 13: Participant-default rules and procedures
> > Principle 14: Segregation and portability
> > Principle 15: General business risk
> > Principle 16: Custody and investment risks
> > Principle 17: Operational risk
> > Principle 18: Access and participation requirements
> > Principle 19: Tiered participation arrangements
> > Principle 20: FMI links
> > Principle 23: Disclosure of rules, key procedures, and market data
> > Principle 24: Disclosure of market data by trade repositories
>
> These areas could have some overlap, but at most we'd just reference the
> principles in the use cases document (not the Web Payment Architecture
> document):
>
> > Principle 8: Settlement finality
> > Principle 21: Efficiency and effectiveness
> > Principle 22: Communication procedures and standards
>
> In short - the BIS Principles document says what an Financial Market
> Infrastructure should do from an operational perspective while the Web
> Payment Architecture specifies how a payment flows through the Web from
> a technical perspective. There is no duplication of effort as far as I
> can tell. The most we could do is say "The Web Payment Architecture
> makes it easier for BIS Principles #8, #21, and #22 to be achieved."
>
> Is that what you were looking for, or am I still missing something?
>
> -- manu
>
> --
> Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
> Founder/CEO - Digital Bazaar, Inc.
> blog: The Marathonic Dawn of Web Payments
> http://manu.sporny.org/2014/dawn-of-web-payments/
>
>


-- 
Joseph Potvin
Operations Manager | Gestionnaire des opérations
The Opman Company | La compagnie Opman
jpotvin@opman.ca
Mobile: 819-593-5983
Received on Friday, 15 May 2015 05:03:08 UTC

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