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Okay, so: are these cards currently available and how much of the system you're describing has existing solutions I could re-purpose vs building entirely from scratch myself?

semisol 6mo ago 💬 1

1. Kind of. The cards exist but you’d need software. Building that requires NDAs but I am already working with a smart card company, so this could be possible to build.

2. You could build it on existing systems but they are not ideal, and certainly not designed for USD (sats only)

There exists no specification for this level of systems either.

If you want to be able to compatible with Boltcard based systems (which are insecure but they exist) then you’d want an account based model.

Otherwise you could use ecash.

Also, you can have card-to-card transactions as well.

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Discussion

vinney...axkl 6mo ago 💬 1

this brings to mind another hurdle: this solution is "CARD ONLY" (no companion app needed), right?

semisol 6mo ago 💬 1

Yes, except for the PoS which needs an app, but that is to be expected.

vinney...axkl 6mo ago 💬 1

yep yep exactly.

when you said "card to card" I wondered if you meant "on the sidewalk, outside the shop", but I get what you mean now. just making sure, thanks.

semisol 6mo ago 💬 1

card to card would require one person to have an app as an intermediary, but yes.

With iOS app clips you wouldn’t even need to install it! Just tap and it’ll load the app clip to transact

semisol 6mo ago 💬 1

Android has a similar feature as well but you can’t read NFC tags

semisol 6mo ago 💬 1

In the app clips feature, I mean. So you’d need to install

semisol 6mo ago 💬 1

Note: Consider that you are now a money transmitter (account-based is clear cut on this, you are. mints are a gray area)

vinney...axkl 6mo ago 💬 1

This is another reason to use a mint ;)

semisol 6mo ago 💬 1

Possible, just forget backwards compatibility with Boltcard. But that is less secure and less capable as well and you don’t need it for a ground up system

vinney...axkl 6mo ago 💬 1

yep, don't care about boltcards now. Goals are only:

0. avoid CC fees

1. customers don't need to understand anything, just use tap to pay

2. customers get $-stable, $-denominated prices

3. merchants will take on more infra work wrt PoS and slightly more understanding

semisol 6mo ago

Also if you want keyset rotation, you would need to have people tap and use cards every few months.

Otherwise they would expire due to inactivity