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When can we just use some kind of CA style PKI and let banks sign customers client side certs to sign payments? Having banks build payment networks from scratc
by swiley 6y ago
When can we just use some kind of CA style PKI and let banks sign customers client side certs to sign payments?
Having banks build payment networks from scratch with all kinds of weird fee structures, security problems, and other caveats really really sucks.
- toomuchtodo 6y agohttps://corpgov.law.harvard.edu/2020/08/31/fednow-the-federal-reserves-planned-instant-payments-service/ https://corpgov.law.harvard.edu/2020/08/31/fednow-the-federa...
- koolba 6y agoDoesn’t chip and pin do this already? Also, even with signatures you still need some way to reverse errant and malicious charges. Cryptography isn’t a panacea for solving all real world problems.
- zelly 6y agoYes, modern cards are basically YubiKeys. You can't trust people (such as bank employees) to maintain private keys. That would never work. Maybe some kind of USB/Bluetooth device that can authorize your physical debit card can let online merchants debit bank accounts securely. I know they have had something similar in the UK for decades.