Author: Justin Newton 2016-03-01 18:58:16
Published on: 2016-03-01T18:58:16+00:00
The proposed update to the Payment Protocol aims to allow two parties to exchange payment information in a permissioned and encrypted way, allowing for automated communication of wallet addresses. The extension also allows for the requestor of a PaymentRequest to supply a certificate and signature to facilitate identification for address release, enabling automated creation of off-blockchain transaction logs that are human-readable. The motivations for this extension are to ensure that payment details are only visible to transaction participants, enhance the Payment Protocol by allowing for store and forward servers, and allow senders to share their identity with receivers. This information can be used to make bitcoin logs more human-readable, give users control over payment detail release, help political campaigns match regulatory and legal requirements, provide an open standards-based way for regulated financial entities to meet regulatory requirements, and automate the active exchange of payment addresses while maintaining privacy and convenience. Justin W. Newton, Founder/CEO of Netki, Inc., has shared the full proposal on GitHub and is seeking feedback.
Updated on: 2023-06-11T04:13:54.265866+00:00