From 35cfc565c844df2313003b379537f471ea0951ec Mon Sep 17 00:00:00 2001 From: Christian Grothoff Date: Mon, 3 Aug 2015 19:50:03 +0200 Subject: placeholders for missing translations Former-commit-id: 4a91a3a05fc67824ead0e111586711118d87f917 --- index.html | 38 ++++++++++++++++++++++++++++++++++++++ 1 file changed, 38 insertions(+) diff --git a/index.html b/index.html index 61d47f60..76852c00 100644 --- a/index.html +++ b/index.html @@ -202,6 +202,11 @@

The Taler system consists of protocols and free software implementations between a number of actors as illustrated in the illustration on the right. Typical transactions involve the following steps: +

+

+

+

+

system overview

  1. A customer instructs his bank to transfer funds @@ -209,6 +214,9 @@ the transaction, he includes an authentication token from his electronic wallet. In Taler terminology, the customer creates a reserve at the mint.
    2. +
  2. +
  3. +
  5. Once the mint has received the transfer, it allows the customer's electronic wallet to withdraw electronic coins. The electronic coins are digital representations of the original @@ -218,6 +226,9 @@ The use of Taler does not change the currency or the total value of the funds (except for fees which the mint may charge for the service).
    6. +
  6. +
  7. +
  9. Once the customer has the digital coins in his wallet, the wallet can be used to spend the coins with merchant portals that support the Taler @@ -232,6 +243,9 @@ customer. Naturally, the customer can spend any fraction of his digital coins (the system takes care of customers getting change).
    10. +
  10. +
  11. +
  13. Merchants receiving digital coins deposits the respective receipts that resulted from the contract signing with the customer at the mint to redeem the coins. @@ -245,6 +259,9 @@ customer. Thus, the mint's database allows the state to enforce that merchants pay applicable taxes (and do not engage in illegal contracts).
    14. +
  14. +
  15. +
  17. Finally, the mint transfers funds corresponding to the digital coins redeemed by the merchants to the merchant's bank account. The mint may combine multiple small @@ -252,6 +269,9 @@ The merchant can query the mint about the relationship between the bank transfers and the individual claims that were deposited.
    18. +
  18. +
  19. +
  21. Most importantly, the mint keeps cryptographic proofs that allow it to demonstrate that it is operating correctly to third parties. The system requires an external @@ -259,12 +279,18 @@ body, to frequently verify the mint's databases and check that its bank balance matches the total value of the remaining coins in circulation.
    22. +
  22. +
  23. +
  25. Without the auditor, the mint operators could steal funds they are holding in reserve. Customers and merchants cannot cheat each other or the mint. If any party's computers are compromised, the financial damage is limited to the respective party and proportional to the funds they have in circulation during the period of the compromise.
    26. +
  26. +
  27. +

@@ -282,6 +308,9 @@ family or copying coins between devices should not be subject to monitoring by the state.

+

+

+

In Taler terminology, we distinguish between transactions where the exclusive ownership of the value of a coin is passed from one entity to another, and sharing @@ -295,6 +324,9 @@ involved, and thus represent interactions in the protected immediate personal domain, and not commercial transactions.

+

+

+

When Taler needs to provide change, for example because a customer only has a 5 Euro coin but wants to make a 2 Euro purchase, it needs to create fresh coins (of a total value @@ -309,10 +341,16 @@ transfers, as the linkage ensures that the fresh coins are always shared with the owner of the original coin.

+

+

+

As a result, Taler does not intrude into the personal economic domain, offers good privacy, taxability for transactions and the ability to give change.

+

+

+

-- cgit v1.2.3