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202 <p lang="en">The Taler system consists of protocols and free software 202 <p lang="en">The Taler system consists of protocols and free software
203 implementations between a number of actors as illustrated in the 203 implementations between a number of actors as illustrated in the
204 illustration on the right. Typical transactions involve the following steps: 204 illustration on the right. Typical transactions involve the following steps:
205 </p>
206 <p lang="de" note="outdated"></p>
207 <p lang="fr" note="outdated"></p>
208 <p lang="it" note="outdated"></p>
209 <p>
205 <img src="images/system.svg" alt="system overview" style="float: right; margin: 50px 5px 5px 5px;" width="50%"> 210 <img src="images/system.svg" alt="system overview" style="float: right; margin: 50px 5px 5px 5px;" width="50%">
206 <ol> 211 <ol>
207 <li lang="en">A customer instructs his <b>bank</b> to transfer funds 212 <li lang="en">A customer instructs his <b>bank</b> to transfer funds
@@ -209,6 +214,9 @@
209 the transaction, he includes an authentication token from his 214 the transaction, he includes an authentication token from his
210 electronic <b>wallet</b>. In Taler terminology, the customer 215 electronic <b>wallet</b>. In Taler terminology, the customer
211 creates a reserve at the mint.</li> 216 creates a reserve at the mint.</li>
217 <li lang="de" note="outdated"></li>
218 <li lang="fr" note="outdated"></li>
219 <li lang="it" note="outdated"></li>
212 <li lang="en">Once the mint has received the transfer, it allows the 220 <li lang="en">Once the mint has received the transfer, it allows the
213 customer's electronic wallet to <b>withdraw</b> electronic coins. 221 customer's electronic wallet to <b>withdraw</b> electronic coins.
214 The electronic coins are digital representations of the original 222 The electronic coins are digital representations of the original
@@ -218,6 +226,9 @@
218 The use of Taler does not change the currency or the 226 The use of Taler does not change the currency or the
219 total value of the funds (except for fees which the mint may 227 total value of the funds (except for fees which the mint may
220 charge for the service).</li> 228 charge for the service).</li>
229 <li lang="de" note="outdated"></li>
230 <li lang="fr" note="outdated"></li>
231 <li lang="it" note="outdated"></li>
221 <li lang="en">Once the customer has the digital coins in his wallet, 232 <li lang="en">Once the customer has the digital coins in his wallet,
222 the wallet can be used to <b>spend</b> the coins with merchant 233 the wallet can be used to <b>spend</b> the coins with merchant
223 portals that support the Taler 234 portals that support the Taler
@@ -232,6 +243,9 @@
232 customer. Naturally, the customer can spend any fraction of his 243 customer. Naturally, the customer can spend any fraction of his
233 digital coins (the system takes care of customers getting 244 digital coins (the system takes care of customers getting
234 change).</li> 245 change).</li>
246 <li lang="de" note="outdated"></li>
247 <li lang="fr" note="outdated"></li>
248 <li lang="it" note="outdated"></li>
235 <li lang="en">Merchants receiving digital coins <b>deposits</b> 249 <li lang="en">Merchants receiving digital coins <b>deposits</b>
236 the respective receipts that resulted from the contract signing 250 the respective receipts that resulted from the contract signing
237 with the customer at the mint to redeem the coins. 251 with the customer at the mint to redeem the coins.
@@ -245,6 +259,9 @@
245 customer. Thus, the mint's database allows the state to enforce 259 customer. Thus, the mint's database allows the state to enforce
246 that merchants pay applicable taxes (and do not engage in 260 that merchants pay applicable taxes (and do not engage in
247 illegal contracts).</li> 261 illegal contracts).</li>
262 <li lang="de" note="outdated"></li>
263 <li lang="fr" note="outdated"></li>
264 <li lang="it" note="outdated"></li>
248 <li lang="en">Finally, the mint transfers funds corresponding to 265 <li lang="en">Finally, the mint transfers funds corresponding to
249 the digital coins redeemed by the merchants to the merchant's 266 the digital coins redeemed by the merchants to the merchant's
250 <b>bank</b> account. The mint may combine multiple small 267 <b>bank</b> account. The mint may combine multiple small
@@ -252,6 +269,9 @@
252 The merchant can query the mint 269 The merchant can query the mint
253 about the relationship between the bank transfers and the 270 about the relationship between the bank transfers and the
254 individual claims that were deposited.</li> 271 individual claims that were deposited.</li>
272 <li lang="de" note="outdated"></li>
273 <li lang="fr" note="outdated"></li>
274 <li lang="it" note="outdated"></li>
255 <li lang="en">Most importantly, the mint keeps cryptographic 275 <li lang="en">Most importantly, the mint keeps cryptographic
256 proofs that allow it to demonstrate that it is operating 276 proofs that allow it to demonstrate that it is operating
257 correctly to third parties. The system requires an external 277 correctly to third parties. The system requires an external
@@ -259,12 +279,18 @@
259 body, to frequently verify the mint's databases and check that 279 body, to frequently verify the mint's databases and check that
260 its bank balance matches the total value of the remaining coins 280 its bank balance matches the total value of the remaining coins
261 in circulation.</li> 281 in circulation.</li>
282 <li lang="de" note="outdated"></li>
283 <li lang="fr" note="outdated"></li>
284 <li lang="it" note="outdated"></li>
262 <li lang="en">Without the auditor, the mint operators could 285 <li lang="en">Without the auditor, the mint operators could
263 steal funds they are holding in reserve. Customers and merchants 286 steal funds they are holding in reserve. Customers and merchants
264 cannot cheat each other or the mint. If any party's computers 287 cannot cheat each other or the mint. If any party's computers
265 are compromised, the financial damage is limited to the 288 are compromised, the financial damage is limited to the
266 respective party and proportional to the funds they 289 respective party and proportional to the funds they
267 have in circulation during the period of the compromise.</li> 290 have in circulation during the period of the compromise.</li>
291 <li lang="de" note="outdated"></li>
292 <li lang="fr" note="outdated"></li>
293 <li lang="it" note="outdated"></li>
268 </ol> 294 </ol>
269 </p> 295 </p>
270 </div> 296 </div>
@@ -282,6 +308,9 @@
282 family or copying coins between devices should not be subject to 308 family or copying coins between devices should not be subject to
283 monitoring by the state. 309 monitoring by the state.
284 </p> 310 </p>
311 <p lang="de" note="outdated"></p>
312 <p lang="fr" note="outdated"></p>
313 <p lang="it" note="outdated"></p>
285 <p lang="en">In Taler terminology, we distinguish between 314 <p lang="en">In Taler terminology, we distinguish between
286 <b>transactions</b> where the exclusive ownership of the value of a 315 <b>transactions</b> where the exclusive ownership of the value of a
287 coin is passed from one entity to another, and <b>sharing</b> 316 coin is passed from one entity to another, and <b>sharing</b>
@@ -295,6 +324,9 @@
295 involved, and thus represent interactions in the protected immediate 324 involved, and thus represent interactions in the protected immediate
296 personal domain, and not commercial transactions. 325 personal domain, and not commercial transactions.
297 </p> 326 </p>
327 <p lang="de" note="outdated"></p>
328 <p lang="fr" note="outdated"></p>
329 <p lang="it" note="outdated"></p>
298 <p lang="en">When Taler needs to provide change, for example because 330 <p lang="en">When Taler needs to provide change, for example because
299 a customer only has a 5 Euro coin but wants to make a 2 Euro 331 a customer only has a 5 Euro coin but wants to make a 2 Euro
300 purchase, it needs to create <b>fresh</b> coins (of a total value 332 purchase, it needs to create <b>fresh</b> coins (of a total value
@@ -309,10 +341,16 @@
309 <i>transfers</i>, as the linkage ensures that the fresh coins are 341 <i>transfers</i>, as the linkage ensures that the fresh coins are
310 always <i>shared</i> with the owner of the original coin. 342 always <i>shared</i> with the owner of the original coin.
311 </p> 343 </p>
344 <p lang="de" note="outdated"></p>
345 <p lang="fr" note="outdated"></p>
346 <p lang="it" note="outdated"></p>
312 <p lang="en">As a result, Taler does not intrude into the 347 <p lang="en">As a result, Taler does not intrude into the
313 personal economic domain, offers good privacy, taxability 348 personal economic domain, offers good privacy, taxability
314 for transactions and the ability to give change. 349 for transactions and the ability to give change.
315 </p> 350 </p>
351 <p lang="de" note="outdated"></p>
352 <p lang="fr" note="outdated"></p>
353 <p lang="it" note="outdated"></p>
316 </div> 354 </div>
317 <!--# include file="common/footer.inc" --> 355 <!--# include file="common/footer.inc" -->
318 </div> <!-- /container --> 356 </div> <!-- /container -->