Author: Troy Benjegerdes 2014-03-07 19:08:04
Published on: 2014-03-07T19:08:04+00:00
Mike Hearn, in an email, expressed his satisfaction with his first contactless NFC payment using a MasterCard. He believes that Bitcoin needs to match this kind of payment experience to meet people's expectations. There are two aspects involved in contactless payments: the physical/NFC layer and the risk analysis layer. A fast, low latency communication is required between the payment device and terminal for contactless payment to work. Mike suggests optimising the bootup process of the Android wallet app, which is currently not optimised for startup time. He also proposes the use of a GPL Linux kernel module to meet the required specifications. Mike envisions a scenario where every device has a well-known payment address for its instant wallet, and merchants can quickly confirm the wallet's balance on the blockchain to complete transactions. He argues that checking certs creates an opportunity for Visa to maintain its market share. In conclusion, he opines that if it's his phone, he doesn't care about certificates during payment, as long as there is no 'certificate validation error' while buying a soda.
Updated on: 2023-06-08T14:21:16.315960+00:00