Tony on Nostr: 💯 I have an article on draft about how we're using blinded signatures as ...
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I have an article on draft about how we're using blinded signatures as authentication service tokens, like with our mutiny lightning addresses.
If you signed up for mutiny+, your device retrieves a blinded signature that's good for one registration of a lightning address. Whenever you register, you "spend" that token. This delinks your wallet identifier with metadata such as name and invoices.
The only thing that matters to us is that you paid for a service, we don't care who you are. Nobody should, that's what money is made for.
We do this all behind the scenes without you having any idea that you're basically using ecash for a specific service. So far it's worked flawlessly from what I can tell.
I have an article on draft about how we're using blinded signatures as authentication service tokens, like with our mutiny lightning addresses.
If you signed up for mutiny+, your device retrieves a blinded signature that's good for one registration of a lightning address. Whenever you register, you "spend" that token. This delinks your wallet identifier with metadata such as name and invoices.
The only thing that matters to us is that you paid for a service, we don't care who you are. Nobody should, that's what money is made for.
We do this all behind the scenes without you having any idea that you're basically using ecash for a specific service. So far it's worked flawlessly from what I can tell.
quoting nevent1q…l5fhMental model: an ecash mint with the purpose of processing payments for a specific service is an alternative to an accounting system.
The flow:
- user tops up balance (e.g. via Lightning)
- service provider (SP) issues ecash to user
- user pays ecash to SP for use of service
Imagine running an entire blockchain for a single application, a website, social network, VPN provider. That would enable interesting use cases but would be a huge waste of resources. With ecash, you can build these systems without blockchains. Lightweight, fast, and cheap.
That is why I'm advocating for businesses to explore these use cases as I see great potential in them, especially in the Bitcoin space. Not only does it guarantee privacy, but it's also easier and safer to build than to have user accounts, passwords, balances, transactions, etc.
Closed ecash systems also do not run into risk of being regulated as money transmission services for the same reason you don't have this issue when you use a BTCPayServer for selling a VPN, for example.
It's only the service provider who gets paid for its service.
I'll be focussing on these use cases as we're developing the Cashu protocol, which allows you to use ecash with Bitcoin.
The internet is as bad as it is partially because payments are so bad. Payments forced us to think in accounts and accounts forced us to be traceable.