[taler-marketing] branch master updated: sliding

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commit a218dbb0ceb8be30748deb96b1aca0aaef5ebf1f
Author: Christian Grothoff <grothoff@gnunet.org>
AuthorDate: Sat May 22 09:24:43 2021 +0200

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+\pdfminorversion=3
+\documentclass[fleqn,xcolor={usenames,dvipsnames}]{beamer}
+\usepackage{amsmath}
+\usepackage{multimedia}
+\usepackage[utf8]{inputenc}
+\usepackage{framed,color,ragged2e}
+\usepackage[absolute,overlay]{textpos}
+\definecolor{shadecolor}{rgb}{0.8,0.8,0.8}
+\usetheme{boxes}
+\setbeamertemplate{navigation symbols}{}
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+\usepackage{tikz,eurosym}
+\usepackage[normalem]{ulem}
+\usepackage{listings}
+\usepackage{adjustbox}
+
+% CSS
+\lstdefinelanguage{CSS}{
+  basicstyle=\ttfamily\scriptsize,
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keywords={color,background-image:,margin,padding,font,weight,display,position,top,left,right,bottom,list,style,border,size,white,space,min,width,
 transition:, transform:, transition-property, transition-duration, 
transition-timing-function},
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+}
+
+% JavaScript
+\lstdefinelanguage{JavaScript}{
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catch, switch, var, if, in, while, do, else, case, break},
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+       <!DOCTYPE,
+  </html, <html, <head, <title, </title, <style, </style, <link, </head, 
<meta, />,
+       % body
+       </body, <body,
+       % Divs
+       </div, <div, </div>,
+       % Paragraphs
+       </p, <p, </p>,
+       % scripts
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+  % More tags...
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repeatCount=, xlink:href=,
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width:, height:,
+       % CSS3 properties
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transition-timing-function:,
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+
+\lstdefinelanguage{JavaScript}{
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switch, var, if, in, while, do, else, case, break, for},
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+}
+
+\usetikzlibrary{shapes,arrows}
+\usetikzlibrary{positioning}
+\usetikzlibrary{calc}
+
+\title{GNU Taler as a Retail CBDC}
+%\subtitle{}
+
+\setbeamertemplate{navigation symbols}{\includegraphics[width=1cm]{inria.pdf} 
\includegraphics[width=2.3cm]{bfh.png} \includegraphics[width=1.6cm]{fub.pdf} 
\includegraphics[width=0.4cm]{ashoka.png}  
\includegraphics[width=0.4cm]{gnu.png} 
\includegraphics[width=1cm]{logo-2020.jpg} \hfill}
+%\setbeamercovered{transparent=1}
+
+\author[C. Grothoff]{J. Burdges, F. Dold, {\bf C. Grothoff}, M. Stanisci}
+\date{\today}
+\institute{The GNU Project}
+
+
+\begin{document}
+
+\justifying
+
+\begin{frame}
+  \begin{center}
+    \LARGE {\bf GNU}
+
+    \vfill
+%    \includegraphics[width=0.66\textwidth]{logo-2017-fr.pdf}
+    \includegraphics[width=0.66\textwidth]{logo-2020.jpg}
+    
+    as a Retail CBDC
+    \vfill
+  \end{center}
+\begin{textblock*}{6cm}(.5cm,7.7cm) % {block width} (coords)
+    {\Large {\bf \href{https://taler.net/}{taler.net}} \\
+    \href{https://twitter.com/taler}{taler@twitter} \\
+    \href{https://taler-systems.com/}{taler-systems.com}}
+\end{textblock*}
+
+% Substitute based on who is giving the talk!
+ \begin{textblock*}{6cm}(6.7cm,7.7cm) % {block width} (coords)
+   {\hfill {\Large {\bf Florian Dold \&} \\
+    \hfill {\bf Christian Grothoff}} \\
+    \hfill \{dold,grothoff\}@taler.net }
+\end{textblock*}
+
+\end{frame}
+
+\section{Introduction}
+
+\begin{frame}{Main Points}
+  \framesubtitle{https://taler.net/}
+Our CBDC:
+\begin{itemize}
+\item is token-based (no accounts), centrally issued (not DLT); as efficient 
and cost-effective
+as modern real-time gross settlement (RTGS) systems operated by central banks;
+\item is designed to provide an electronic equivalent to banknotes, therefore 
no material
+impact on monetary policy and/or financial stability expected;
+\item guarantees privacy for the payer, combined with KYC/AML/CFT compliance 
and
+income transparency to promote tax compliance;
+\item is implemented as Free/Libre and Open Source Software (FLOSS) to provide
+transparency, accountability, and security (part of the GNU project).
+\end{itemize}
+\end{frame}
+
+
+\begin{frame}{Payment Systems: Accounts vs. Tokens}
+Two types of payment systems:
+\begin{enumerate}
+\item {\bf account-based system}: transfer occurs by charging the payer’s 
account and crediting
+the payee’s account (e.g., bank deposits)
+\item {\bf token-based (value-based) system}: transfer occurs by transferring 
the value itself, or a
+token that represents the monetary asset (e.g., banknotes)
+\end{enumerate}
+Key Difference is the information carried by the information asset:
+\begin{itemize}
+\item account (assets): associated with a transaction history
+\item token (assets): carry information about value and entity that issued the 
token
+\end{itemize}
+Bitcoin, and Distributed Ledger Technologies (DLTs) in general, are 
account-based systems!
+Novelty is that the ledger is distributed (decentralized).
+\end{frame}
+
+
+\begin{frame}{Simplistic CBDC Designs}
+\begin{itemize}
+\item Account-based CBDC (e.g., Bindseil 2020, Berentsen and Schär 2018):
+\begin{itemize}
+\item simplest solution: central bank account for all
+\item responsibility to perform KYC and ensure AML/CFT (could be outsourced);
+\item potential for mass-surveillance (threat to CB independence);
+\item in direct competition with commercial banks
+\end{itemize}
+\item Token-based CBDC:
+\begin{itemize}
+\item requires a system to ensure that electronic tokens are not easily copied
+(hardware-based or software-based) $\rightarrow$ double-spending problem
+\item KYC and AML/CFT compliance?
+\end{itemize}
+\end{itemize}
+\end{frame}
+
+
+\section{What is Taler?}
+\begin{frame}{What is Taler?}
+  \begin{center}
+Taler is an electronic instant payment system based on tokens.
+  \end{center}
+  \begin{itemize}
+  \item Uses electronic coins stored in {\bf wallets} on customer's device
+  \item Like {\bf cash}
+  \item Pay in {\bf existing currencies} (i.e. CHF, EUR, USD)
+  \end{itemize}
+  \vfill
+  \pause
+ \noindent
+ However, Taler is
+  \begin{itemize}
+    \item \emph{not} a currency
+    \item \emph{not} a long-term store of value
+    \item \emph{not} a network or instance of a system
+    \item \emph{not} decentralized
+    \item \emph{not} based on proof-of-work or proof-of-stake
+    \item \emph{not} a speculative asset / ``get-rich-quick scheme''
+  \end{itemize}
+\end{frame}
+
+
+\begin{frame}{The Big Picture}
+\begin{center}
+\includegraphics[width=0.8\textwidth]{bp.png}
+\end{center} 
+\end{frame}
+
+
+\begin{frame}{Design Principles}
+  \framesubtitle{https://taler.net/en/principles.html}
+GNU Taler must ...
+\begin{enumerate}
+  \item {... be implemented as {\bf free software}.}
+  \item {... protect the {\bf privacy of buyers}.}
+  \item {... must enable the state to {\bf tax income} and crack down on
+    illegal business activities.}
+  \item {... prevent payment fraud.}
+  \item {... only {\bf disclose the minimal amount of information
+    necessary}.}
+  \item {... be usable.}
+  \item {... be efficient.}
+  \item {... avoid single points of failure.}
+  \item {... foster {\bf competition}.}
+\end{enumerate}
+\end{frame}
+
+
+\begin{frame}
+\frametitle{Architecture of Taler}
+\begin{center}
+  \includegraphics[width=1\textwidth]{operations.png}
+\end{center}
+\end{frame}
+
+
+\begin{frame}{Taler: Unique Regulatory Features for CBs}
+  
\framesubtitle{\url{https://www.snb.ch/en/mmr/papers/id/working_paper_2021_03}}
+  \begin{itemize}
+    \item Central bank issues digital coins equivalent to issuing cash \\
+          $\Rightarrow$ monetary policy remains under CB control
+    \item Architecture with consumer accounts at commercial banks \\
+          $\Rightarrow$ no competition for commercial banking (S\&L) \\
+          $\Rightarrow$ CB does not have to manage KYC, customer support
+    \item Withdrawal limits and denomination expiration \\
+          $\Rightarrow$ protects against bank runs and hoarding
+    \item Income transparency and possibility to set fees \\
+          $\Rightarrow$ additional insights into economy and new policy options
+    \item Revocation protocols and loss limitations \\
+          $\Rightarrow$ exit strategy and handles catastrophic security 
incidents
+    \item Privacy by cryptographic design not organizational compliance \\
+          $\Rightarrow$ CB cannot be forced to facilitate mass-surveillance
+  \end{itemize}
+\end{frame}
+
+
+\begin{frame}
+\frametitle{Taler Core Components}
+\begin{center}
+\begin{tikzpicture}
+ \tikzstyle{def} = [node distance= 5em and 6.5em, inner sep=1em, outer 
sep=.3em];
+ \node (origin) at (0,0) {};
+ \node (exchange) [def,above=of origin,draw]{Exchange};
+ \node (customer) [def, draw, below left=of origin] {Customer};
+ \node (merchant) [def, draw, below right=of origin] {Merchant};
+ \node (auditor) [def, draw, above right=of origin]{Auditor};
+% \node (regulator) [def, draw, above=of auditor]{CSSF};
+
+ \tikzstyle{C} = [color=black, line width=1pt]
+
+ \draw [<-, C] (customer) -- (exchange) node [midway, above, sloped] 
(TextNode) {withdraw coins};
+ \draw [<-, C] (exchange) -- (merchant) node [midway, above, sloped] 
(TextNode) {deposit coins};
+ \draw [<-, C] (merchant) -- (customer) node [midway, above, sloped] 
(TextNode) {spend coins};
+ \draw [<-, C] (exchange) -- (auditor) node [midway, above, sloped] (TextNode) 
{verify};
+% \draw [<-, C] (regulator) -- (auditor) node [midway, above, sloped] 
(TextNode) {report};
+
+\end{tikzpicture}
+\end{center}
+\end{frame}
+
+
+\begin{frame}{The Taler Software Ecosystem}
+  \framesubtitle{\url{https://taler.net/en/docs.html}}
+  Taler is based on modular components that work together to provide a
+  complete payment system:
+  \vfill
+  \begin{itemize}
+    \item {\bf Exchange:} Service provider for digital cash
+      \begin{itemize}
+        \item Core exchange software (cryptography, database)
+        \item Air-gapped key management, real-time {\bf auditing}
+        \item LibEuFin: Modular integration with banking systems
+      \end{itemize}
+    \item {\bf Merchant:} Integration service for existing businesses
+      \begin{itemize}
+        \item Core merchant backend software (cryptography, database)
+        \item Back-office interface for staff
+        \item Frontend integration (E-commerce, Point-of-sale)
+      \end{itemize}
+    \item {\bf Wallet:} Consumer-controlled applications for e-cash
+      \begin{itemize}
+        \item Multi-platform wallet software (for browsers \& mobile phones)
+        \item Wallet backup storage providers
+        \item {\bf Anastasis}: Recovery of lost wallets based on secret 
splitting
+      \end{itemize}
+  \end{itemize}
+\end{frame}
+
+
+\begin{frame}{Usability of Taler}
+  \vfill
+  \begin{center}
+    \url{https://demo.taler.net/}
+  \end{center}
+  \begin{enumerate}
+  \item Install browser extension.
+  \item Visit the {\tt bank.demo.taler.net} to withdraw coins.
+  \item Visit the {\tt shop.demo.taler.net} to spend coins.
+  \end{enumerate}
+  \vfill
+\end{frame}
+
+
+\begin{frame}{Requirements: Online vs. Offline Digital Currencies}
+\framesubtitle{\url{https://taler.net/papers/euro-bearer-online-2021.pdf}}
+\begin{itemize}
+    \item Offline capabilities are sometimes cited as a requirement for 
digital payment solutions
+    \item All implementations must either use restrictive hardware elements 
and/or introduce
+      counterparty risk.
+    \item[$\Rightarrow$] Permanent offline features weaken a digital payment 
solution (privacy, security)
+    \item[$\Rightarrow$] Introduces unwarranted competition for physical cash 
(endangers emergency-preparedness).
+  \end{itemize}
+  We recommend a tiered approach:
+      \begin{enumerate}
+        \item Online-first, bearer-based digital currency with Taler
+        \item (Optional:) Limited offline mode for network outages
+        \item Physical cash for emergencies (power outage, catastrophic cyber 
incidents)
+      \end{enumerate}
+\end{frame}
+
+
+\begin{frame}{Scalability}
+The design scales linearly with computing resources:
+\begin{itemize}
+\item Front-end logic at the central bank only needs to perform a few 
signature operations, a
+single CPU core can typically do a few thousands per second.
+\item Front-end servers need to talk to a database to prevent double-spending. 
A single database server can handle tens of thousands of such operations per 
second.
+\item All operations are easily split across multiple database servers by 
simply assigning
+each database server a range of values.
+\item The frontends need to talk to the backends using an interconnect. The 
size of an
+individual transaction is typically about 1–10 kilobytes. Modern interconnects
+can support millions of such transactions per second.
+\item To securely store 1-10 kilobytes per transaction, using AWS pricing, the 
cost of the
+system (storage, bandwidth, computation) at scale would be 0.0001 USD per 
transaction.
+\end{itemize}
+\end{frame}
+
+
+\begin{frame}{Taler: Project Status}
+\framesubtitle{\url{https://docs.taler.net/}}
+\begin{itemize}
+    \item Cryptographic protocols and core exchange component are stable
+    \item Current focus: Merchant integration, settlement integration, wallet 
backup
+    \item Pilot project at Bern University of Applied Sciences cafeteria
+    \item Internal alpha deployment with a commercial bank in progress
+  \end{itemize}
+\end{frame}
+
+
+\begin{frame}{Next Steps: Possible Projects and Collaborations}
+  \vfill
+\begin{center}
+\includegraphics[width=1.0\textwidth]{taler-in-use.png}
+\end{center}
+\end{frame}
+
+
+\begin{frame}{Area I: System Integration and Partnerships}
+  Pilots with banking organizations could:
+  \begin{itemize}
+    \item Study integration with the underlying RTGS layer:
+  \begin{itemize}
+    \item Develop standardized operational procedures
+    \item Assess transaction performance at scale
+    \item Perform cost analysis in banking environment
+    \item Assess effort for integration with commercial banks
+  \end{itemize}
+    \item Analyze regulatory considerations for different legislations
+    \item Perform independent security audits of Taler components
+  \end{itemize}
+  In general, a major task is faciltation of integration at retailers:
+  \begin{itemize}
+    \item Hardware and software support
+    \item Integration into off-the-shelf E-commerce systems
+  \end{itemize}
+\end{frame}
+
+
+\begin{frame}{Area II: Development/Research Extensions}
+%  \framesubtitle{Background: \url{https://myoralvillage.org/}}
+We have ideas for protocol extensions and ``programmable money'':
+  \begin{itemize}
+    \item Mediated wallet-to-wallet payments (instead of customer-to-merchant)
+    \item Privacy-preserving auctions (trading, currency exchange)
+    \item Age-restricted private payments for children (youth protection)
+  \end{itemize}
+Public funding could be used to improve:
+  \begin{itemize}
+    \item General digital wallet usability and availability
+    \item Accessibility features for illiterate and innumerate users
+    \item Protocol extensions for automated tax reporting
+  \end{itemize}
+\end{frame}
+
+
+\begin{frame}
+\frametitle{Do you have any questions?}
+\vfill
+References:
+{\tiny
+  \begin{enumerate}
+ \item{David Chaum, Christian Grothoff and Thomas Moser.
+       {\em How to issue a central bank digital currency}.
+       {\bf SNB Working Papers, 2021}.}
+ \item{Christian Grothoff, Bart Polot and Carlo von Loesch.
+       {\em The Internet is broken: Idealistic Ideas for Building a GNU 
Network}.
+       {\bf W3C/IAB Workshop on Strengthening the Internet Against Pervasive 
Monitoring (STRINT)}, 2014.}
+ \item{Jeffrey Burdges, Florian Dold, Christian Grothoff and Marcello Stanisci.
+       {\em Enabling Secure Web Payments with GNU Taler}.
+       {\bf SPACE 2016}.}
+ \item{Florian Dold, Sree Harsha Totakura, Benedikt M\"uller, Jeffrey Burdges 
and Christian Grothoff.
+       {\em Taler: Taxable Anonymous Libre Electronic Reserves}.
+       Available upon request. 2016.}
+ \item{Eli Ben-Sasson, Alessandro Chiesa, Christina Garman, Matthew Green, Ian 
Miers, Eran Tromer and Madars Virza.
+       {\em Zerocash: Decentralized Anonymous Payments from Bitcoin}.
+       {\bf IEEE Symposium on Security \& Privacy, 2016}.}
+ \item{David Chaum, Amos Fiat and Moni Naor.
+       {\em Untraceable electronic cash}.
+       {\bf Proceedings on Advances in Cryptology, 1990}.}
+  \item{Phillip Rogaway.
+       {\em The Moral Character of Cryptographic Work}.
+       {\bf Asiacrypt}, 2015.} \label{bib:rogaway}
+\end{enumerate}
+}
+\end{frame}
+
+
+\end{document}
+
+

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