Disrupting Payments

Beyond Google Wallet and RequestAutoComplete,
toward the open financial Web

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Web Payments

What I do


  • W3C Standards Chair working on:

    • Web Payments (PaySwarm/Bitcoin/Ripple)
    • Global Linked Data (JSON-LD/RDFa)
    • Identity & Security (Secure Messaging)

  • W3C designs the Web's architecture

  • The architecture for moving money via the Web is broken


Web Payments

The Problem


  • Problem: Sending and receiving money over the Web is proprietary, slow, insecure, and hostile to innovation.

  • 2.4 billion people now use the Web regularly

  • The Standard (1970s tech): Credit cards and slow bank transfers (ACH)


Web Payments

The Real Problem

  • The real problem: Financial sector does not understand the Web, and is not innovating at the same pace as the Web.

  • ACH and Credit card based systems

  • PayPal, Amazon Payments

  • Stripe, Square, Paymill, Dwolla


Web Payments

Google's Solutions

  • Google Wallet and RequestAutocomplete are solid improvements, but can we do better?

  • Can we improve identity? Fraud-resistance? Portable digital receipts?

  • What about decentralized payments? Are there lessons to be learned from Bitcoin and Ripple?



PaySwarm - The Web Payment Standard


  • Goal: Integrate value-exchange and payments into the core architecture of the Web

  • Browser-native payments for 2.4B people

  • We need a universal payment standard for the Web

  • W3C: Patent and royalty-free technology



PaySwarm - The Web Payment Standard


  • Open, like the Web.

  • Decentralized, global identity system

  • Cryptography-based / fraud-resistant

  • Decentralized products, transactions, contracts



PaySwarm - The Web Payment Standard


  • Extensible, digitally signed receipts

  • Data portability / payment processor agnostic

  • One-click purchases in the browser

  • Works today: PaySwarm, FirefoxOS


Web Payments

The Big Opportunity


  • 2.4 billion people now use the Web regularly

  • 2.6 billion people can access it via mobile phone

  • 2.5 billion adults don't have bank accounts

  • There is a standard for sending email. There is a standard for publishing Web pages. There is no standard for storing and sending money over the Web.



The Web as a the Global Financial Network

  • The goal: Integrate value-exchange into the core architecture of the Web

  • There are significant financial and societal reasons to work on this problem.

  • Join us here: Web Payments Group @ W3C

  • Pull me aside, introduce yourself!


Learn more...

The End

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