I tried reading the website, but Im not really sure I get it. What it’s supoosed to be? A way how to make FIAT payments thats open-sourced and private (so you dont have to pay stupid fees to banks), and it integrates into the current banking system, or is it some kind of digital currency that’s not blockchain based?
If it’s the former - isnt any kind of payment without KYC almost impossible, since its heavily regulated? So, you can’t really have private payments in environment where there’s stupid amount of laws about how much you can actually pay without it being identifiable, for example the super small monthly limit on anonymous prepaid debit cards?
I played around with GNU Taler a while back. The payer is anonymous but verifiable (so I can’t pay with the same €3 ten times to ten people) but the recipient is known and the payment connected with the recipient, to satisfy avoiding tax evasion and fraud.
It still anticipates merchants taking some fee, but that fee should be able to be much less, as it doesn’t depend on Blockchain (requiring so much work) but is a suitable cryptographic algorithm so 3rd party merchants can compete.
I tried reading the website, but Im not really sure I get it. What it’s supoosed to be? A way how to make FIAT payments thats open-sourced and private (so you dont have to pay stupid fees to banks), and it integrates into the current banking system, or is it some kind of digital currency that’s not blockchain based?
If it’s the former - isnt any kind of payment without KYC almost impossible, since its heavily regulated? So, you can’t really have private payments in environment where there’s stupid amount of laws about how much you can actually pay without it being identifiable, for example the super small monthly limit on anonymous prepaid debit cards?
I played around with GNU Taler a while back. The payer is anonymous but verifiable (so I can’t pay with the same €3 ten times to ten people) but the recipient is known and the payment connected with the recipient, to satisfy avoiding tax evasion and fraud.
It still anticipates merchants taking some fee, but that fee should be able to be much less, as it doesn’t depend on Blockchain (requiring so much work) but is a suitable cryptographic algorithm so 3rd party merchants can compete.