Re: [Taler] Token bartering?

[Niels Larsen]

Oh yea, thats, that helped. This might be an interesting
mechanism for Transferwise.com, for example, who makes
it cheap to receive and convert multi-currency payments.
They are also a way, at the moment, to avoid negative
interest rates, which has become a big annoyance in
some countries.

Niels



8000 Aarhus C
Denmark

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‐‐‐‐‐‐‐ Original Message ‐‐‐‐‐‐‐
On Monday, August 10, 2020 8:04 PM, Christian Grothoff <grothoff@gnunet.org> 
wrote:

> On 8/10/20 7:54 PM, Niels Larsen wrote:
>
> > Christian, Taler,
> > Thanks for the reply, very good that one does not
> > have to register, thats new to me ..
>
> I wrote nothing about registration, but indeed there is no real
> registration involved.
>
> > Well I meant commercial too: if merchant A uses
> > tokens (gotten from some consumer) to buy something
> > from merchant B, and then B uses those same tokens
> > to buy something from A or someone else, then what
> > about VAT?
>
> I guess you are quite confused, and maybe we should start by avoiding
> the term 'tokens' as that is not Taler terminology. Taler uses coins.
>
> When a merchant receives coins from a Taler custome using the regular
> payment protocol, they don't actually receive the coin's private keys,
> but a statement signed by the coin's private key saying: "dear exchange,
> please deposit the value of this coin into the (hash of) bank account of
> this merchant in return for the (hash of) this contract".
>
> So merchant A receives its income directly into its regular bank
> account, and never in the form of a directly usable coin. If merchant A
> wants to use this income to pay merchant B, they have to use the
> withdraw protocol (which includes telling their bank to send money to
> the Taler exchange) to obtain freshly minted coins.
>
> I hope this helps!
>
> Christian