Open, simple, interoperable systems — from payment standards to transparent narrow banks — beat closed walled gardens almost every time.
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Direct voting does not work well outside small groups that know each other. Think New England town meetings, a group of business partners. The traditional way to get around this in a large group is through representative democracy. Once in a while we vote in a small group of people that can vote between themselves. …
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The debate continues. Please read the first part of my response OpenTransact the Payment Standard where everything is out of scope first. Manu wrote a new response which I will respond to in a separate blog post. First let me finish responding to the original Generally this post will again reflect the differences in …
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The W3C Web Payments Community Group was launched in August 2011 because Digital Bazaar had created their PaySwarm spec. I have been working with several others since 2009 on bootstrapping an open grassroots created standard OpenTransact with pretty much the same purpose as PaySwarm. I immediately joined the W3C group …
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2 news stories on the same day are quite interesting in their contrast. Pin and Chip is broken The first one has the collective might and minds of the European banking system and their suppliers who overlooked a slight issue in their authentication protocol for authenticating Chip cards with a pin number. In Europe …
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As I mentioned in my last post The Sorry state of Payment Standards I wanted to blog about OpenTransact which so far is probably one of the most important outcomes of the Agile Banking mailing list set up after my talk last year on Agile Banking. OpenTransact was designed to be very simple and is based on REST the best …
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Since my talk last year at Reboot on Agile Banking the Agile Banking Mailing List has been quite active with lots of different ideas. One of the most important yet also simple products of the list has been OpenTransact which I now realize I haven’t even mentioned on my blog. OpenTransact aims to be the worlds simplest …
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Last week I gave my talk on Agile Banking at Reboot 11. This week I have taken my talk and turned it into a series of blog articles of which this is the final one. I have links at the bottom of the article to the previous articles. How do we build this? Open web standards are the way to do this. A lot of great work …
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Last week I gave my talk on Agile Banking at Reboot 11. This week I have taken my talk and turned it into a series of blog articles that I will post here once a day. Simplify We should create simple limited banks or funds. These should only be allowed to do one thing. A fund has accounts signifying value. Value could …
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Last week I gave my talk on Agile Banking at Reboot 11. This week I have taken my talk and turned it into a series of blog articles that I will post here once a day. Douglas Jackson was an oncologist from Melbourne, Florida. He was an idealist and thought the world would be a better place with a strong private …
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Last week I gave my talk on Agile Banking at Reboot 11 This week I have taken my talk and turned it into a series of blog articles that I will post here once a day. In the beginning was the bench. The word Bank comes from the Italian word for bench “Banca”. Rather than a modern bench these were more like the above …
