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Re: [Payments Architecture] A vision statement for the web payments architecture work

From: Melvin Carvalho <melvincarvalho@gmail.com>
Date: Tue, 19 May 2015 08:58:20 +0200
Message-ID: <CAKaEYhJpjQhCM+rpMjxxrxS19pydsCgiAyzMGCkGW0NHVGhusg@mail.gmail.com>
To: Adrian Hope-Bailie <adrian@hopebailie.com>
Cc: Web Payments IG <public-webpayments-ig@w3.org>, Web Payments CG <public-webpayments@w3.org>
On 18 May 2015 at 14:58, Adrian Hope-Bailie <adrian@hopebailie.com> wrote:

> The IG are trying to finalize a short vision statement for the work we are
> undertaking, specifically with regards to the architecture we will be
> developing, for payments on the Web.
> The document is intended to express the technical principles we consider
> important in the design of the architecture and I'd appreciate some input
> on it's content.
> The document is also intended to be short, less than a page, and as such
> not too detailed. It's purpose is to frame the design and allow all
> stakeholders to agree up front that we are aligned on our vision.
> The audience should be broad, and not necessarily payments or Web
> technology experts, but since this is related to the design of a technical
> architecture the content will be technical.
> Please have a look at the first draft of this document and send me your
> feedback.
> https://www.w3.org/Payments/IG/wiki/Payment_Agent_Task_Force/Vision

Personally I would scratch the part on security.  Not because I dont value
security, but because it's quite a subjective term.  Satoshi said, "A
certain per centage of fraud is accepted as unavoidable".  I prefer that
kind of wording.  Also, security can come at the expense of growth and
scalability.  The value proposition of the web is not as a secure system,
much like the post office, telephone or email, but rather, as a highly
connected self organizing system capable of unexpected reuse.  Systems like
bitcoin and ripple are relatively secure but dont scale too well, systems
like the web are relatively insecure but scale well.  What we have tended
to notice with large systems is that security increases with scale.

> Thanks,
> Adrian
> p.s. Thanks Ian Jacobs for the initial work in getting this started.
Received on Tuesday, 19 May 2015 06:58:49 UTC

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