Sunday, February 12, 2017

Call them payment codes or card IDs

Reusable payment codes, which can be used in place of bitcoin addresses to give transactions more privacy, just got more useful. Now there is a directory for payment codes, beta-launched last week by the Samourai Wallet developers.
A directory service, what we need. 

In my model the card ID directory service is central.  The card generates card IDs as authorization for autotrading in the pit, as opposed to a payment code which is a single  trade.

The directory service can decode a card ID, determine if it is valid and return any parameters within the card ID.  The service is strictly important, though slightly redundant in the sandbox. Like the URL locator, you do not need it if you know the IP address.  Same in the pit, once a card ID enters the pit, the system should protect it from fraud.

But the directory service is critical to matching card ID with locations so pizzas can be delivered.  It is the security connection between the anonymous sandbox and the smart layer.  The directory service is where government hands out warrants based on card ID.

Anyway, a payment directory is a huge step in the right direction. Consider the difference between a payment code and a card ID as the difference between a single purchase and an autotrading bot.

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