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> What's the point of public/private keys if the whole thing can be reversed, recovered and changed by FB? Less possibility for fraud via identity-stealing. Me
by knocte 7y ago
> What's the point of public/private keys if the whole thing can be reversed, recovered and changed by FB?
Less possibility for fraud via identity-stealing. Merchants will not need to see/store your private keys anymore to receive payments.
- thefounder 7y agoWhere are the keys stored? How are the accounts recovered when they loose the keys? And you really believe facebook will ask users to manage private keys instead to authenticate with their facebook account?
- knocte 7y ago> you really believe facebook will ask users to manage private keys instead to authenticate with their facebook account? Yeah, I know that your private key will probably be your Facebook username&password tuple, but this is still better than credit cards because the merchant will not need to know this tuple to be paid.
- thefounder 7y agoHow is this whole thing different than paypal then? We all know how "better" paypal is. Frozen accounts anyone?
- knocte 7y agoPaypal is linked to your credit card.
- thefounder 7y agoIt's not really mandatory. You can use the paypal balance to buy stuff. In case you wonder you will need to source your facebook wallet with a credit card or bank account too so it's really no different than Paypal.
- knocte 7y agoWtf really? Is that in the whitepaper?