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+msgid ""
+msgstr ""
+"Content-Type: text/plain; charset=UTF-8\n"
+"Plural-Forms: nplurals=2; plural=(n!=1);\n"
+"Content-Type: text/plain;\n"
+
+msgid "<a href='/'>Home</a>"
+msgstr ""
+
+msgid "<a href='https://demo.taler.net/' target='_blank'>Demo</a>"
+msgstr ""
+
+msgid "<a href='/citizens'>Citizens</a>"
+msgstr ""
+
+msgid "<a href='/merchants'>Merchants</a>"
+msgstr ""
+
+msgid "<a href='/governments'>Governments</a>"
+msgstr ""
+
+msgid "<a href='/investors'>Operators</a>"
+msgstr ""
+
+msgid "<a href='/developers'>Developers</a>"
+msgstr ""
+
+msgid "<a href='/about'>About&nbsp;us</a>"
+msgstr ""
+
+msgid ""
+"This page was created using <a href='https://www.gnu.org/'>Free Software</a> "
+"only."
+msgstr ""
+
+msgid "Electronic payments for a liberal society!"
+msgstr ""
+
+msgid ""
+"Taler is a new electronic payment system under development\n"
+"\t at <a href='http://www.inria.fr/'>Inria</a>. Today, this website "
+"only\n"
+"\t presents the advantages our system is expected to provide. We expect "
+"to\n"
+"\t make the payment system operational in 2017."
+msgstr ""
+
+msgid "Taxable"
+msgstr ""
+
+msgid ""
+"Unlike BitCoin or cash payments, Taler ensures that\n"
+"\t governments can learn their citizen's total income and thus collect\n"
+"\t sales, value-added or income taxes. Taler is thus a currency for the\n"
+"\t mainstream economy, and not the black market."
+msgstr ""
+
+msgid "Anonymous"
+msgstr ""
+
+msgid ""
+"When you pay with Taler, your identity does not have to\n"
+"\t be revealed to the merchant. The bank, government and exchange will "
+"also\n"
+"\t never learn how you spent your electronic money. However, you can\n"
+"\t prove that you paid in court if necessary."
+msgstr ""
+
+msgid "Libre"
+msgstr ""
+
+msgid ""
+"Taler is free software from <a href='http://www.gnu.org/'>GNU</a> "
+"implementing an open protocol.\n"
+"\t Anybody is welcome to inspect our code and integrate our reference\n"
+"\t implementation into their applications."
+msgstr ""
+
+msgid "Electronic"
+msgstr ""
+
+msgid ""
+"Taler is designed to work on the Internet. Using a\n"
+"\t so-called RESTful protocol over HTTP or HTTPS, Taler is easy to\n"
+"\t integrate with existing Web applications."
+msgstr ""
+
+msgid "Reserves"
+msgstr ""
+
+msgid ""
+"Taler uses an electronic exchange holding financial\n"
+" reserves in existing currencies. This means that Taler is not\n"
+"\t a new currency with the inherent currency fluctuation risks, but\n"
+"\t instead the cryptographic coins correspond to existing currencies, "
+"such as\n"
+"\t US Dollars, Euros or even BitCoins."
+msgstr ""
+
+msgid "Taler Web payments paper published."
+msgstr ""
+
+msgid "More news »"
+msgstr ""
+
+msgid "Taler technology: About taxability, change and privacy"
+msgstr ""
+
+msgid ""
+"One of the key goals of Taler is to provide anonymity for\n"
+" citizens buying goods and services, while ensuring that the state "
+"can\n"
+" observe incoming transactions to ensure businesses engage only "
+"in\n"
+" legal activities and do not evade taxes (such as income tax,\n"
+" sales tax or value-added tax). However, we also want to stay\n"
+" out of the immediate personal domain, so sharing funds within a\n"
+" family or copying coins between devices should not be subject to\n"
+" monitoring by the state.\n"
+" "
+msgstr ""
+
+msgid ""
+"As a result, Taler does not intrude into the\n"
+" personal economic domain, offers good privacy, taxability\n"
+" for transactions and the ability to give change.\n"
+" "
+msgstr ""
+
+msgid "About us"
+msgstr ""
+
+msgid ""
+"GNU maintainer. Network security &amp; privacy researcher. Software "
+"architect."
+msgstr ""
+
+msgid ""
+"Entrepreneur, Investor, Fortune 100 CIO, IT company director in different "
+"industries, …."
+msgstr ""
+
+msgid "CFO"
+msgstr ""
+
+msgid "Applied cryptography. Contact to W3c &amp; Tor."
+msgstr ""
+
+msgid "Theoretical foundations."
+msgstr ""
+
+msgid "Founder of the GNU project. Ethical guidance and licensing."
+msgstr ""
+
+msgid "PhD Student, TU Munich. Currently teaching."
+msgstr ""
+
+msgid "PhD Student, Inria.."
+msgstr ""
+
+msgid "Software engineer."
+msgstr ""
+
+msgid "Sustainable business development."
+msgstr ""
+
+msgid "Software engineer. Works on libebics."
+msgstr ""
+
+msgid "Translator (Spanish)"
+msgstr ""
+
+msgid "Translator (Italian)"
+msgstr ""
+
+msgid "Hardware security module"
+msgstr ""
+
+msgid "Risk management"
+msgstr ""
+
+msgid "PhD student, TU Munich. Currently teaching."
+msgstr ""
+
+msgid "Software engineer. Works on Android wallet."
+msgstr ""
+
+msgid "Advantages for citizens"
+msgstr ""
+
+msgid "Security"
+msgstr ""
+
+msgid ""
+"Taler is the electronic equivalent of cash, except harder to fake.\n"
+" If your digital wallet is lost -- say because\n"
+" your computer is irreparably damaged or compromised -- only the "
+"amount of coin\n"
+" stored in your wallet will be lost. Unlike a physical wallet, "
+"you can make\n"
+" backups of your digital wallet which can provide security "
+"against data loss.\n"
+" So your digital wallet works mostly just like\n"
+" a physical wallet, except online and without the need to "
+"manually count coins."
+msgstr ""
+
+msgid "Privacy"
+msgstr ""
+
+msgid ""
+"Your transactions are private, neither the exchange nor merchant needs to\n"
+" learn your identity. There is no need to give our credit card "
+"numbers or\n"
+" other sensitive information, and the merchant will only be able "
+"to do\n"
+" exactly the transaction you confirmed using your digital wallet."
+msgstr ""
+
+msgid "Convenience"
+msgstr ""
+
+msgid ""
+"You will be able to withdraw digital coins to replenish your wallet using\n"
+" your credit card or SEPA transactions, similar to how you pay "
+"or withdraw\n"
+" cash today."
+msgstr ""
+
+msgid "Stability "
+msgstr ""
+
+msgid ""
+"Coins in your digital wallet will be of the same denomination as the\n"
+" cash in your physical wallet. So you will not have to worry "
+"about\n"
+" currency fluctuations or conversion rates. Like a physical "
+"wallet,\n"
+" you can carry digital coins of different currencies in your "
+"digital\n"
+" wallet at the same time."
+msgstr ""
+
+msgid "Taler as seen by customers"
+msgstr ""
+
+msgid ""
+"Customers interact with the Taler system mostly using\n"
+" a free wallet implementation, which may be an extension or plugin\n"
+" to their browser or a custom application on their computer(s).\n"
+" Typical steps performed by customers are:\n"
+" "
+msgstr ""
+
+msgid ""
+"The customer selects an exchange (i.e. by visiting the\n"
+" respective website or selecting from a list of exchanges in "
+"the\n"
+" application) and asks the wallet to create bank transfer\n"
+" instructions to withdraw a certain amount of electronic cash.\n"
+" The bank transfer instructions will contain an\n"
+" access code that must be included in the subject of the\n"
+" transaction, as well as the wire details for the exchange (i."
+"e.\n"
+" a SEPA account number)."
+msgstr ""
+
+msgid ""
+"The customer then instructs his <b>bank</b> to\n"
+" transfer funds from his account to the Taler exchange using\n"
+" these instructions provided by the wallet (top left)."
+msgstr ""
+
+msgid ""
+"Once the funds have arrived, the wallet will\n"
+" automatically withdraw the electronic coins. The\n"
+" customer can use the wallet to review his remaining balance\n"
+" at any time. He can also make backups to secure his digital\n"
+" coins against hardware failures."
+msgstr ""
+
+msgid ""
+"When visiting a merchant that supports Taler,\n"
+" an additional payment option for Taler is enabled in the "
+"checkout system.\n"
+" If the customer selects payments via Taler, the wallet\n"
+" displays the secured contract from the merchant and asks\n"
+" for confirmation. Taler does not require the customer\n"
+" to provide any identity information to the merchant.\n"
+" Transaction histories and digitally\n"
+" signed contracts can be preserved in the wallet for future\n"
+" review by the customer, or even use in court."
+msgstr ""
+
+msgid "Advantages for merchants"
+msgstr ""
+
+msgid "Fast"
+msgstr ""
+
+msgid ""
+"Processing transactions with Taler is fast, allowing you\n"
+"\t to confirm the transaction with your customer virtually immediately.\n"
+"\t Your customers will appreciate that they do not have to type in "
+"credit\n"
+"\t card information and play the &quot;verified by&quot; game. By making "
+"payments\n"
+"\t significantly more convenient for your customers, you may be able to\n"
+"\t use Taler for small transactions that would not work with credit "
+"card\n"
+"\t payments due to the mental overhead for customers."
+msgstr ""
+
+msgid "Secure"
+msgstr ""
+
+msgid ""
+"You never learn sensitive customer information. You need\n"
+"\t to ensure that your website provides the correct account information\n"
+"\t for your business, and that you correctly validate the payment\n"
+"\t confirmations from the Taler exchange. As a result, you will have\n"
+"\t cryptographic proof of payment for the specific contracts you "
+"entered\n"
+"\t with your customers, and cryptographically signed confirmations from\n"
+"\t the Taler exchange about the deposits. Taler does not require you to\n"
+"\t undergo any particular security audits, processes or procedures, as\n"
+"\t you never handle sensitive customer information. Your systems will\n"
+"\t have cryptographically signed contracts which you can use in court "
+"in\n"
+"\t case of disputes."
+msgstr ""
+
+msgid "Free Software"
+msgstr ""
+
+msgid ""
+"Taler is free software, and you can use the\n"
+"\t liberally-licensed reference code as a starting point to integrate\n"
+"\t Taler into your services. To use Taler, you do not need to pay "
+"license\n"
+"\t fees, and the free software development model will ensure that you "
+"can\n"
+"\t select from many competent developers to help you with your\n"
+"\t integration."
+msgstr ""
+
+msgid "Low Fees"
+msgstr ""
+
+msgid ""
+"Taler is designed to minimize the work the exchange needs to\n"
+"\t perform. Combined with Taler's strong security which prevents "
+"fraud,\n"
+"\t exchanges can operate with very low overhead and thus low "
+"transaction\n"
+"\t fees. Given Taler's free software exchange reference "
+"implementation,\n"
+"\t competition among exchanges will ensure fair, low transaction fees "
+"for\n"
+"\t merchants."
+msgstr ""
+
+msgid "Flexible"
+msgstr ""
+
+msgid ""
+"Taler can be used for different currencies (such as Euros\n"
+"\t or US Dollars) and different payment models limited only by what the\n"
+"\t exchange supports in its interactions."
+msgstr ""
+
+msgid "Ethical"
+msgstr ""
+
+msgid ""
+"Taler does not support tax evasion or money laundering, and is\n"
+" also not a pyramid scheme or speculative investment. Taler's\n"
+" protocols are efficient and do not waste energy. Taler "
+"encourages\n"
+" competition by providing an open standard and free software\n"
+" reference implementations."
+msgstr ""
+
+msgid "Taler as seen by merchants"
+msgstr ""
+
+msgid ""
+"Merchants supporting the Taler system need to integrate\n"
+" some relatively simple logic into their transaction processing\n"
+" system.\n"
+" Typical steps performed by the merchant system are:\n"
+" "
+msgstr ""
+
+msgid ""
+"The new logic detects when a customer's system\n"
+" supports Taler and then needs to send a cryptographically "
+"signed\n"
+" version of the proposed contract in a simple JSON format to\n"
+" the customer.\n"
+" The message also includes salted, hashed wire details for\n"
+" the merchant, as well as restrictions as to which exchange "
+"operators\n"
+" the merchant is willing to deal with."
+msgstr ""
+
+msgid ""
+"The customer sends a signed response which states\n"
+" that certain digital coins now belong to the merchant to "
+"both\n"
+" signal acceptance of the deal as well as to pay the "
+"respective\n"
+" amount (bottom)."
+msgstr ""
+
+msgid ""
+"The merchant then forwards the signed messages\n"
+" received from the customer to the exchange, together with "
+"its\n"
+" wire details and the salt (without hashing). The exchange "
+"verifies\n"
+" the details and sends a signed confirmation (or an error\n"
+" message) to the merchant. The merchant checks that the\n"
+" exchange's signature is valid, sends a confirmation to the\n"
+" customer and executes the contract-specific business logic."
+msgstr ""
+
+msgid ""
+"The exchange performs wire transfers corresponding to\n"
+" the claims deposited by the merchant. Note that the exchange "
+"may\n"
+" charge fees for the deposit operation, hence merchants may\n"
+" impose limits restricting the set of exchange operators they "
+"are\n"
+" willing to deal with, for example by imposing a bound on\n"
+" deposit fees."
+msgstr ""
+
+msgid "Manuals for merchants"
+msgstr ""
+
+msgid "Advantages for governments"
+msgstr ""
+
+msgid ""
+"Taler is an electronic payment system that was built with the goal of "
+"supporting taxation.\n"
+" With Taler, the receiver of any form of payment is known, and "
+"the payment information comes\n"
+" attached with some details about what the payment was made for "
+"(but not the identity of the customer). Thus, governments can use this\n"
+" data to tax buisnesses and individuals based on their income, "
+"making tax evasion and\n"
+" black markets less viable."
+msgstr ""
+
+msgid ""
+"Taler's payments are cryptographically secured. Thus, customers, merchants "
+"and\n"
+" the exchange can mathematically demonstrate their lawful "
+"behavior in court in case\n"
+" of disputes. Financial damages are strictly limited, improving "
+"economic security\n"
+" for individuals, merchants, the exchange and the state. Most "
+"importantly, an\n"
+" independent auditor can ensure that there is no &quot;bad exchange"
+"&quot;\n"
+" within the Taler system who might threaten the economy due to "
+"fraud."
+msgstr ""
+
+msgid ""
+"Taler is free software implementing an open protocol standard. Thus, Taler "
+"will\n"
+" enable competition and avoid the monopolization of payment "
+"systems that threatens\n"
+" global political and financial stability today."
+msgstr ""
+
+msgid "Efficient"
+msgstr ""
+
+msgid ""
+"Taler is designed to be efficient. Unlike timeline-based payment systems "
+"like\n"
+" BitCoin, Taler will not threaten the availability of national "
+"electric grids or\n"
+" (significantly) contribute to environmental pollution."
+msgstr ""
+
+msgid "Taler as seen by governments"
+msgstr ""
+
+msgid ""
+"Governments can observe traditional wire\n"
+" transfers entering and leaving the Taler system, and\n"
+" require merchants and exchange operators to provide certain\n"
+" information during financial audits. Exchange operators\n"
+" are expected to be permanently checked by auditors,\n"
+" while merchants may be required to reveal information\n"
+" during regular tax audits.\n"
+" Information available to the government includes:\n"
+" "
+msgstr ""
+
+msgid ""
+"From the banking system:\n"
+" The total amount of digital currency\n"
+" obtained by a customer. The government could impose\n"
+" limits on how many digital coins a customer may\n"
+" withdraw within a given timeframe."
+msgstr ""
+
+msgid ""
+"From the banking system:\n"
+" The total amount of income received\n"
+" by any merchant via the Taler system."
+msgstr ""
+
+msgid ""
+"From auditing the exchange:\n"
+" The amounts of digital coins legitimately withdrawn by\n"
+" customers from the exchange, the value of non-redeemed "
+"digital coins\n"
+" in customer's wallets, the value and corresponding wire "
+"details\n"
+" of deposit operations performed by merchants with the "
+"exchange, and\n"
+" the income of the exchange from transaction fees."
+msgstr ""
+
+msgid ""
+"From auditing merchants:\n"
+" For each deposit operation, the exact details of the\n"
+" underlying contract that was signed between\n"
+" customer and merchant. However, this information would\n"
+" typically not include the identity of the customer.\n"
+" Note that while the customer can decide to prove that it was "
+"his\n"
+" transaction (i.e. in court when suing the merchant if the\n"
+" merchant failed to deliver on the contract),\n"
+" merchant, exchange and government cannot find out the "
+"customer's\n"
+" identity from the information that Taler collects."
+msgstr ""
+
+msgid "Operate a Taler exchange!"
+msgstr ""
+
+msgid ""
+"Taler uses efficient cryptographic primitives (such as RSA 2048 and\n"
+" EdDSA) and is thus expected to be able to handle large "
+"transaction\n"
+" volumes, only limited by the input/output capabilities of the\n"
+" database. Thus, running a Taler exchange should be profitable "
+"even\n"
+" with very low (less than 1 cent) transaction fees (at "
+"appropriate\n"
+" transaction volume)."
+msgstr ""
+
+msgid ""
+"All transactions in Taler are secured using modern cryptography and\n"
+" trust in all parties is minimized. Financial damage is bounded\n"
+" (for customers, merchants and the exchange) even\n"
+" in the case that systems are compromised and private keys are "
+"stolen.\n"
+" Databases can be audited for consistency, resulting in either "
+"the\n"
+" detection of compromised systems or the demonstration that\n"
+" participants were honest."
+msgstr ""
+
+msgid "Business model"
+msgstr ""
+
+msgid ""
+"The basic business model for Taler is the operation of an exchange. An "
+"exchange converts money from traditional payment systems (Mastercard,\n"
+" SEPA, Visa, BitCoin, ACH, SWIFT, etc.) to anonymous electronic\n"
+" coins in the same currency. The customer can then redeem the "
+"electronic\n"
+" coins at a merchant, who can exchange them for money "
+"represented using\n"
+" traditional payment systems at the exchange. The exchange can "
+"then charge\n"
+" fees (to the customer, merchant or both) to facilitate the "
+"transactions."
+msgstr ""
+
+msgid "Taler as seen by the exchange operator"
+msgstr ""
+
+msgid ""
+"The exchange operator primarily operates a Web service\n"
+" portal and keeps databases with transaction details and\n"
+" cryptographic proofs. Its operational expenses are thus related "
+"to\n"
+" its interactions with the banking system and the operation of\n"
+" the computing infrastructure, while its income is based on\n"
+" transaction fees it may charge for the various interactions.\n"
+" Key interactions of the exchange include:\n"
+" "
+msgstr ""
+
+msgid ""
+"Create a <b>reserve</b> based on an incoming\n"
+" wire transfer from a customer."
+msgstr ""
+
+msgid ""
+"Allow customers to withdraw (and refresh)\n"
+" digital coins from their reserve."
+msgstr ""
+
+msgid "Accept and validate deposits from merchants."
+msgstr ""
+
+msgid ""
+"Execute wire transfers to merchants in\n"
+" response to validated deposits."
+msgstr ""
+
+msgid ""
+"Preserve and provide cryptographic proofs of\n"
+" correct operation for audits by financial regulators."
+msgstr ""
+
+msgid "Taler for developers"
+msgstr ""
+
+msgid "Free"
+msgstr ""
+
+msgid ""
+"Taler is free software implementing an open\n"
+" protocol. Anybody is welcome to inspect our code and\n"
+" integrate our reference implementation into their\n"
+" applications. Different components of Taler are being\n"
+" made available under different licenses. The Affero\n"
+" GPLv3+ is used for the exchange, the LGPLv3+ is used for\n"
+" reference code demonstrating integration with merchant\n"
+" platforms, and licenses like Apache/Mozilla/GPLv3+ are\n"
+" used for wallets and related customer-facing software.\n"
+" We are open for constructive suggestions for maximizing\n"
+" the adoption of this libre payment platform.\n"
+" "
+msgstr ""
+
+msgid "RESTful"
+msgstr ""
+
+msgid ""
+"Taler is designed to work on the Internet. To\n"
+"\t ensure that Taler payments can work with restrictive\n"
+"\t network setups, Taler uses a RESTful protocol over HTTP or\n"
+"\t HTTPS. Taler's security does not depend upon the use of\n"
+"\t HTTPS, but obviously merchants may choose to offer HTTPS\n"
+"\t for consistency and because it generally is better for\n"
+"\t privacy compared to HTTP. Taler uses JSON to encode\n"
+"\t structure data, making it easy to integrate Taler with\n"
+"\t existing Web applications. Taler's protocol is documented\n"
+"\t in detail <a href='https://api.taler.net/'>here</a>.\n"
+" "
+msgstr ""
+
+msgid "Code"
+msgstr ""
+
+msgid ""
+"Taler is currently primarily developed by a\n"
+"\t research team at Inria and TU Munich. However,\n"
+"\t contributions from anyone are welcome. Our Git\n"
+"\t repositories can be cloned using the Git and HTTP access\n"
+"\t methods against <tt>git.taler.net</tt> with the name of\n"
+"\t the respective repository. A list of public repositories\n"
+"\t can be found in\n"
+"\t our <a href='https://git.taler.net/'>GitWeb</a>.\n"
+" "
+msgstr ""
+
+msgid "Documentation"
+msgstr ""
+
+msgid ""
+"In addition to this website,\n"
+" the <a href='https://git.taler.net/'>documented\n"
+" code</a> and the <a href='https://api.taler.net/'>API\n"
+" documentation</a>, we are in the process of preparing a\n"
+" comprehensive design document which will be published here\n"
+" soon.\n"
+" "
+msgstr ""
+
+msgid "Discussion"
+msgstr ""
+
+msgid ""
+"We have a mailinglist for developer discussions.\n"
+" You can subscribe to it or read the list archive at\n"
+" <a href='http://lists.gnu.org/mailman/listinfo/taler'>http://"
+"lists.gnu.org/mailman/listinfo/taler</a>."
+msgstr ""
+
+msgid "Regression Testing"
+msgstr ""
+
+msgid ""
+"We\n"
+" have <a href='https://buildbot.net/'>Buildbot</a>\n"
+" automation tests to detect regressions and check for\n"
+" portability at\n"
+" <a href='https://buildbot.taler.net/'>buildbot.taler.net</a>.\n"
+" "
+msgstr ""
+
+msgid "Code Coverage Analysis"
+msgstr ""
+
+msgid ""
+"We\n"
+" use <a href='http://ltp.sourceforge.net/coverage/lcov.php"
+"'>LCOV</a>\n"
+" to analyze the code coverage of our tests, the results are\n"
+" available\n"
+" at <a href='https://lcov.taler.net/'>lcov.taler.net</a>.\n"
+" "
+msgstr ""
+
+msgid "Performance Analysis"
+msgstr ""
+
+msgid ""
+"We\n"
+" use <a href='https://gnunet.org/gauger'>Gauger</a> for\n"
+" performance regression analysis of the exchange backend\n"
+" at <a href='https://gauger.taler.net/'>gauger.taler.net</a>.\n"
+" "
+msgstr ""
+
+msgid "Taler system overview"
+msgstr ""
+
+msgid ""
+"The Taler system consists of protocols executed\n"
+" among a number of actors with the help\n"
+" of <a href='https://www.fsf.org/'>Free Software</a> as\n"
+" illustrated in the illustration on the right. Typical\n"
+" transactions involve the following steps:\n"
+" "
+msgstr ""
+
+msgid ""
+"A customer instructs his <b>bank</b> to\n"
+" transfer funds from his account to the Taler exchange\n"
+" (top left). In the subject of the transaction, he\n"
+" includes an authentication token from his\n"
+" electronic <b>wallet</b>. In Taler terminology, the\n"
+" customer creates a reserve at the exchange.\n"
+" "
+msgstr ""
+
+msgid ""
+"Once the exchange has received the\n"
+" transfer, it allows the customer's electronic wallet\n"
+" to <b>withdraw</b> electronic coins. The electronic\n"
+" coins are digital representations of the original\n"
+" currency from the transfer. It is important to note\n"
+" that the exchange does not learn the &quot;serial numbers&quot;\n"
+" of the coins created in this process, so it cannot tell\n"
+" later which customer purchased what at which merchant.\n"
+" The use of Taler does not change the currency or the\n"
+" total value of the funds (except for fees which the\n"
+" exchange may charge for the service).\n"
+" "
+msgstr ""
+
+msgid ""
+"Once the customer has the digital coins in\n"
+" his wallet, the wallet can be used to <b>spend</b> the\n"
+" coins with merchant portals that support the Taler\n"
+" payment system and accept the respective exchange as a\n"
+" business partner (bottom arrow). This creates a digital\n"
+" contract signed by the customer's coins and the\n"
+" merchant. If necessary, the customer can later use\n"
+" this digitally signed contract in a court of law to\n"
+" prove the exact terms of the contract and that he paid\n"
+" the respective amount. The customer does not learn the\n"
+" banking details of the merchant, and Taler does not\n"
+" require the merchant to learn the identity of the\n"
+" customer. Naturally, the customer can spend any\n"
+" fraction of his digital coins (the system takes care of\n"
+" customers getting change).\n"
+" "
+msgstr ""
+
+msgid ""
+"Merchants receiving digital\n"
+" coins <b>deposit</b> the respective receipts that\n"
+" resulted from the contract signing with the customer at\n"
+" the exchange to redeem the coins. The deposit step\n"
+" does not reveal the details of the contract between the\n"
+" customer and the merchant or the identity of the\n"
+" customer to the exchange in any way. However, the\n"
+" exchange does learn the identity of the merchant via\n"
+" the provided bank routing information. The merchant\n"
+" can, for example when compelled by the state for\n"
+" taxation, provide information linking the individual\n"
+" deposit to the respective contract signed by the\n"
+" customer. Thus, the exchange's database allows the\n"
+" state to enforce that merchants pay applicable taxes\n"
+" (and do not engage in illegal contracts).\n"
+" "
+msgstr ""
+
+msgid ""
+"Finally, the exchange transfers funds\n"
+" corresponding to the digital coins redeemed by the\n"
+" merchants to the merchant's <b>bank</b> account. The\n"
+" exchange may combine multiple small transactions into\n"
+" one larger bank transfer. The merchant can query the\n"
+" exchange about the relationship between the bank\n"
+" transfers and the individual claims that were\n"
+" deposited.\n"
+" "
+msgstr ""
+
+msgid ""
+"Most importantly, the exchange keeps\n"
+" cryptographic proofs that allow it to demonstrate that\n"
+" it is operating correctly to third parties. The system\n"
+" requires an external <b>auditor</b>, such as a\n"
+" government-appointed financial regulatory body, to\n"
+" frequently verify the exchange's databases and check that\n"
+" its bank balance matches the total value of the\n"
+" remaining coins in circulation.\n"
+" "
+msgstr ""
+
+msgid ""
+"Without the auditor, the exchange operators\n"
+" could embezzle funds they are holding in\n"
+" reserve. Customers and merchants cannot cheat each\n"
+" other or the exchange. If any party's computers are\n"
+" compromised, the financial damage is limited to the\n"
+" respective party and proportional to the funds they\n"
+" have in circulation during the period of the\n"
+" compromise.\n"
+" "
+msgstr ""
+
+msgid "News"
+msgstr ""