Standardizing automatic pre-negotiation of transaction terms with BIP70? (Emulating Amazon one-click purchase at all merchants)



Summary:

The BIP70 protocol allows for communication between a user's wallet client and a merchant's server, agreeing on details such as payment amount, shipping information, and more. However, currently this is only initiated at the time of payment, meaning users may not know certain information until after they have filled their digital basket and gone through checkout. This could be simplified if there was a BIP70 HTML tag on web shops that automatically triggered a user's wallet as soon as they visit the page, allowing for notifications on acceptable terms. This approach has privacy implications and increases exposure to potential wallet exploits, but the wallet can ask users if they intend to shop or not at each site before connecting and sending any information. Another option would be to automatically connect but limit what data is sent until the user agrees to send private information. Additionally, this method could allow merchants to send relevant information such as third-party certifications to the user's wallet, which can include certification that shows they have been audited and approved by a specific entity for a specific purpose. With a list of predefined types of certifications that the wallet understands and accepts, it could require a certificate to be present to even allow a purchase.


Updated on: 2023-06-09T16:43:46.113041+00:00