Re: [Bitcoin-development] Instant / contactless payments

[Brooks Boyd <boydb@midnightdesign.ws>]

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On Mar 6, 2014 3:47 AM, "Mike Hearn" <mike@plan99.net> wrote:
>
> I just did my first contactless nfc payment with a MasterCard. It worked
very well and was quite delightful - definitely want to be doing more of
these in future. I think people will come to expect this kind of
no-friction payment experience and Bitcoin will need to match it, so here
are some notes on what's involved.
>
> 3) Have some kind of decentralised reputation network. I spent some time
thinking about this, but it rapidly became very complicated and feels like
an entirely separate project that should stand alone from Bitcoin itself.
Perhaps rather than try to make a global system, social data could be
exchanged (using some fancy privacy preserving protocols?) so if your
friends have decided to trust seller X, your phone automatically trusts
them too.

A reputation network might be an interesting idea, or several different
networks with different curators (to prevent complete centralization), like
how the US credit score system has three main companies who track your
score. Something like a GPG ring of trust, with addresses signing other
addresses would work well, if some sort of Stealth address or HD wallet
root was the identity gaining the reputation, then address re-use wouldn't
have to be mandatory.

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