Web Payments

Building value exchange into the core of the Web

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Intro

Web Payments

What I do

Manu


  • 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 Web must deliver on financial freedom as it did on publishing freedom.

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Intro

Web Payments

Problems with Financial Freedom

Problems


  • Infrastructure: 2.5 billion adults do not have bank accounts

  • Technology: Credit cards and bank transfers (proprietary 1970s tech)

  • Regulatory: Banking regulations are having a chilling effect online

  • Sending and receiving money is proprietary, slow, insecure, and hostile to innovation.

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Intro

Web Payments

The "State of the Art"


  • Most major financial services are affected:

  • Banks and Credit Cards

  • PayPal, Amazon Payments, Google Wallet

  • Stripe, Square, Paymill, Dwolla

  • Is there room to improve these services? How can we reach the world's unbanked?

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Intro

Web Payments

The Big Opportunity

Solution


  • 2.4 billion people now use the Web regularly

  • 2.6 billion people can access it via mobile phone

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

  • We need: A global payment standard for the Web

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Open

Systems

PaySwarm - The Web Payment Standard

PaySwarm


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

  • Web-native payments for 2.4B people

  • W3C: Open, patent and royalty-free technology

  • The global financial network should be open. Like the Web.

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Open

Systems

PaySwarm: Features

PaySwarm


  • Automatic tax revenue collection

  • Automatic tracking of economic variables

  • Decentralized, global identity system

  • Cryptography-based / fraud-resistant

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Open

Systems

PaySwarm: Features

PaySwarm



  • Decentralized products, transactions, contracts

  • Extensible, digitally signed receipts

  • Data portability / payment processor agnostic

  • Works today: PaySwarm, FirefoxOS

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Open

Systems

PaySwarm - The Past

Roadmap


  • 2008: Work on a universal Web payment standard begins. World standard: RDFa

  • 2009: First open specifications for PaySwarm released to the public. Work on JSON-LD begins.

  • 2011: First working implementation and launch of experimental W3C Web Payments group.

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Open

Systems

PaySwarm - The Present

Roadmap


  • 2012: Web Payments work expands into portable identity, secure financial messaging.

  • 2013: 100+ Web Payments group members (including Mozilla, Bloomberg, Bitcoin, Ripple)

  • 2013: PaySwarm presented at World Banking Conference, SWIFT, IGF, W3C Technical Plenary. World standard: JSON-LD.

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Open

Systems

PaySwarm - The Future

Roadmap


  • February 2014: World's first workshop on Web Payments (Paris)

  • July 2014: W3C Web Payments Working Group Launches

  • 2016: Web Payments specifications finalized

  • 2017: First Open World Standard for Web Payments

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Act

Now

The Web as a the Global Financial Network


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

  • Provide advanced financial services to world's unbanked/underbanked, and anyone with a Web connection.

  • Join us here: Web Payments Group @ W3C

  • Pull me aside, introduce yourself!
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Thanks

Learn more...

The End

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