middle paragraph in conclusion did not flow,
It read like two unconnected sentences.
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@ -1290,16 +1290,16 @@ counterfeit money.
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% CG: No, it's not optional, ``should'' doesn't come into the equation
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% CG: No, it's not optional, ``should'' doesn't come into the equation
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% here. It's a mandatory business expense.
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% here. It's a mandatory business expense.
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Furthermore, merchants have the cost of maintaining change and depositing
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Furthermore, merchants have the cost of maintaining change and depositing
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the money earned. With Bitcoin, there is no definitive time until a
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the money earned. At the extreme, there is no definitive time until a
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payment can be said to be confirmed (step 19, Figure~\ref{fig:bitcoin}),
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Bitcoin payment can be said to be confirmed (step 19, Figure~\ref{fig:bitcoin}),
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leaving merchants in a bit of a tricky situation.
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leaving merchants in a bit of a tricky situation.
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Addressing the scalability problems of Bitcoin in the style of BOLT
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Finally, attempts to address the scalability hudles of Bitcoin using
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introduces semi-centralized intermediaries, similar to Taler's use of
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side-chains or schemes like BOLT introduces semi-centralized
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exchanges. We expect a Taler exchange operating in BTC to offer
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intermediaries, not wholey unlike Taler's use of exchanges.
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stronger security to all parties and stronger anonymity to customers,
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We expect a Taler exchange operating in BTC to offer stronger security
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as well as being vastly cheaper to operate and more compatible with
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to all parties and stronger anonymity to customers, as well as being
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existing financial regulations.
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vastly cheaper to operate and more compatible with existing financial regulations.
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\section{Future work}
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\section{Future work}
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@ -1388,10 +1388,9 @@ and usability.
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% CG: I'd say on the customer side, the signed contract is a receipt.
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% CG: I'd say on the customer side, the signed contract is a receipt.
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% That should be intuitive.
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% That should be intuitive.
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We expect that electronic wallets that automatically collect digitally
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We expect that electronic wallets that automatically collect digitally
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signed receipts for transactions will become commonplace. A key
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signed receipts for transactions will become commonplace.
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question for the future is thus whether this data collection will be
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In this way, Taler gives the user full control over the usage of their
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done on behalf of the citizens and under their control, or on behalf
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transaction history, as opposed to giving control to big data corporations.
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of the Reich of big data corporations.
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We encourage readers to try our prototype for Taler
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We encourage readers to try our prototype for Taler
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at \url{https://demo.taler.net/}, and to ponder why the billion dollar
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at \url{https://demo.taler.net/}, and to ponder why the billion dollar
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