npub1q6…nx7d5 on Nostr: All of these card payment schemes boil down to securely protecting a randomly ...

All of these card payment schemes boil down to securely protecting a randomly generated unique secret that is used to authorize a payment.

Where the ‘trust’ comes into play, is what can be done in conjunction with this random secret. That’s why you have to ‘trust’ the payment terminals - not to leak your secret, but also to transmit the amount you intend to pay.

The EMV (Europay Mastercard Visa) scheme partially addresses this problem with secure terminals that need to be certified, and mandating that merchants only use these terminals, but it’s still a big weak spot and point of capture in the system. If we are going to break free, we need to build from the ground up.

This is only another step in what we are building with bitcoin/nostr/lightning/cashu

quoting
note1sh2…v8u4

Proof of work.

Payment of 21 sats using NFC card on Android with #nostr #safebox on left.

Updated balance and transaction are shown in Nostr Wallet Connect in #damus iOS client on right.

Instantaneous.