Author: Eric Voskuil 2015-02-05 23:59:33
Published on: 2015-02-05T23:59:33+00:00
The discussion revolves around the security of peer-to-peer (P2P) payments and consumer-to-merchant transactions. It is suggested that for P2P payments, it may be possible to pay someone using their public keys already in your contact list or by bootstrapping a key exchange over SMS. On the other hand, consumer-to-merchant transactions should follow the traditional trust model where payment is made to the terminal and proximity is used as a substitute for identity. When identification is required, it equates to the BIP-70 scenario in the bitcoin model. However, there are cases that fall outside these scenarios, which are harder to authenticate and more susceptible to attempted fraud. The discussion also touches on the limitations of Bluetooth technology for secure payments and whether it is worth pursuing despite its security risks.
Updated on: 2023-06-09T16:36:19.450014+00:00