Quote from: TanteStefana on April 15, 2014, 07:16:35 PM

Quote from: coins101 on April 15, 2014, 01:17:57 PM

I'm thinking more automated process for large merchants that do huge volume of transactions.

The process of checking needs to be automated, with as much effort put on the customer as possible. The use of credit cards is accepted because to get one you need to have gone through various hurdles. All the merchants need to worry about is checking the cards are not stolen and they contain sufficient funds.

Something like:

* user enters personal data at the merchants store front
* personal data goes through third party verification process that handles KYC (KYC gets updated by the customer every x period)
* user engages with merchant and provides data for shipping
* user pays
* merchant can automatically cross check someone has done KYC during the payment acceptance process
* Merchant can link transaction to KYC for reporting, if required.
* customer and merchant transact. Goods are dispatched.

The issue about anonymity for this type of opt-in facility is about public display of transactions on a block chain, not about total anonymity, i.e. compared to a normal credit card transaction, the only thing missing is an imprint of the transaction in the block chain that can be daisy-chained to other transactions. A similar relationship would exist with the merchant knowing who the customer is by reference to credit card data. Unlike credit cards, KYC type verification can be like a one time use password

There must be a way to facilitate third party data attachment for verification with Darkcoin being an enabling tool so it doesn't have to get involved with the verification process which means it remains decentralised.

I don't understand any need for this unless you want customer protections. IMO Cryptos are supposed to be like cash. If someone stole your wallet, you'll never get it back, so be careful. Same as cash. If I were to buy something from a retailer, I try to give them as little information as possible. I used to pay everything in cash because retailers used to want phone numbers etc... from me if I used check (OK, I'm old) But I hated that! I have since given up on my personal privacy, but don't want to give up on my financial privacy.

Also, any attempt to verify if coins were stolen or not will ruin the fungibility of the coin. That is really a bad thing for multiple reasons.

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I don't understand any need for this unless you want customer protections.

No, not protection for customers. Protection for retailers. Something is stopping them from accepting crypto, despite the costs being significantly less than using credit cards.

So you're a big retailer and you prefer not to use crypto despite the fact that it can double your profit margin.

On paper its a no brainer. So what is the barrier?