Post
Topic
Board Project Development
Re: tlsnotary - cryptographic proof of fiat transfer for p2p exchanges
by
marcus_of_augustus
on 19/02/2015, 20:32:46 UTC
We are happy to report that https://bitbargain.co.uk (a fiat<->btc marketplace) told us that they successfully used TLSNotary in an unusual case where bank lost the buyer's payment.

Even though https://bitbargain.co.uk processes ~300 trades per day, twice a year they'll have a situation where there is no way to resolve a disagreement between reputable parties.

Using TLSNotary the seller showed to the BitBargain staff their online bank's statement page (with a cryptographic proof) without revealing their bank's login/password. Good times.

So the buyer proved they had actually made the bank transfer using TLSnotary also?

And seller was able to prove he hadn't received (yet) because bank had lost the payment.

Interesting that a bitcoin-centric system for removing trust has been used to prove legacy banking error ... good work.