Author: Mike Hearn 2014-03-28 11:46:53
Published on: 2014-03-28T11:46:53+00:00
The discussion is about the limitations of BIP70 and how it only addresses the basic buyer-to-seller relationship. The protocol needs to expand its scope beyond just payment requests and focus on creating a protocol that deals with the concept of business relationships. This would allow parties to terminate the relationship at their own discretion, rather than being controlled by algorithms and timeouts. There is also a need for communication between the merchant and buyer in cases where refunds are required after an extended period of time. It's not unreasonable to require such communication if something needs to be refunded after a year or more, as people may have moved or changed bank accounts. Failure to address these issues would bring back all the pre-BIP70 confusion.
Updated on: 2023-06-08T16:52:48.311562+00:00