commit 9d1b3cb8d1bcdc0dfc65cfbd5259f72abf4c78ec
parent b173c9223ee1e351572724a77e7a0fc7e9718367
Author: Christian Grothoff <christian@grothoff.org>
Date: Sun, 25 Apr 2021 18:49:11 +0200
update slides
Diffstat:
1 file changed, 98 insertions(+), 73 deletions(-)
diff --git a/presentations/2021-cb/slides.tex b/presentations/2021-cb/slides.tex
@@ -120,7 +120,7 @@
\vfill
\end{center}
\begin{textblock*}{4cm}(.5cm,6.7cm) % {block width} (coords)
- {\Large {\bf \url{taler-systems.com}} \\
+ {\Large {\bf \href{https://taler-systems.com/}{taler-systems.com}} \\
Twitter: @taler \\
mail@taler.net }
\end{textblock*}
@@ -139,7 +139,9 @@
\section{Introduction}
\begin{frame}{What is Taler?}
- Taler is
+ \framesubtitle{\url{https://taler.net/en/features.html}}
+ \noindent
+Taler is
\vfill
\begin{itemize}
\item a Free/Libre software \emph{payment system} infrastructure project
@@ -148,13 +150,8 @@
as widely as possible.
\end{itemize}
\vfill
- Retail CBDCs are an important topic, and Taler could
- serve as the foundation for a solution.
-\end{frame}
-
-\begin{frame}{What is Taler NOT?}
- However, Taler is
- \vfill
+\noindent
+However, Taler is
\begin{itemize}
\item \emph{not} a currency
\item \emph{not} a long-term store of value
@@ -169,34 +166,40 @@
\begin{frame}{Taler: Payment System Architecture}
\vfill
\begin{center}
-\includegraphics[width=0.7\textwidth]{operations.png}
+\includegraphics[width=1\textwidth]{operations.png}
\end{center}
\end{frame}
\begin{frame}{The Taler Software Ecosystem}
- Taler is based on modular components that work together to provide a (CBDC)
- payment system.
+ \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
- \item Air-gapped key management
- \item Real-time auditing
- \item LibEuFin: Modular integration with external settlement / RTGS layer
+ \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
- \item {\bf User:} Wallets and surrounding services
\begin{itemize}
- \item Multi-platform wallet software
+ \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 Anastasis: Recovery of lost wallets based on secret splitting.
+ \item {\bf Anastasis}: Recovery of lost wallets based on secret splitting
\end{itemize}
\end{itemize}
\end{frame}
\begin{frame}{Taler Protocol}
+ \framesubtitle{\url{https://taler.net/papers/thesis-dold-phd-2019.pdf}}
\begin{itemize}
\item Core concept: Blind-signed tokens of value
\item Based on stable, proven cryptographic constructions and primitives
@@ -210,20 +213,24 @@
-\begin{frame}{CBDC is a Hot Topic}
- \vfill
-\begin{center}
-\includegraphics[width=1.0\textwidth]{cbdc-news.png}
-\end{center}
-\end{frame}
+%\begin{frame}{CBDC is a Hot Topic}
+% \vfill
+%\begin{center}
+%\includegraphics[width=1.0\textwidth]{cbdc-news.png}
+%\end{center}
+%\end{frame}
\begin{frame}{CBDC initiatives and Taler}
- Many initiatives are currently at the level of requirements discussion
+ Many initiatives are currently at the level of requirements discussion:
+ \begin{minipage}{7cm}
\begin{itemize}
- \item ECB: Report on a Digital Euro / Eurosystem report on the public consultation on a digital euro
+ \item ECB: Report on a Digital Euro / Eurosystem report on the public consultation on a Digital Euro
\item Bank of England: Just initiated a task force
- \item ...
\end{itemize}
+ \end{minipage}
+ \begin{minipage}{5cm}
+ \includegraphics[width=0.8\textwidth]{cbdc-news.png}
+ \end{minipage}
\vfill
Taler can serve as the foundation for a \emph{bearer-based} \emph{retail} CBDC.
\begin{itemize}
@@ -253,43 +260,49 @@ GNU Taler must ...
\end{frame}
-\begin{frame}{Taler: Unique Regulatory Features}
- Taler balances regulatory compliance (KYC/AML/CFT) with data privacy.
-
+\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 Withdrawal limits
- \item Income transparency (KYC required to receive money)
- \item Fully automated audits
- \item Revocation protocols and loss limitation for catastropic cyber security incidents
- \item Data minimization can simplify compilance (GDPR, etc.) and reduce impact of
- data breaches at merchants
- \item Privacy of spending by (cryptographic) design, not just legal compliance
+ \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}{Requirements: Online vs. Offline CBDC}
- \begin{itemize}
+\framesubtitle{\url{https://taler.net/papers/euro-bearer-online-2021.pdf}}
+\begin{itemize}
\item Offline capabilities are often cited as a requirement for CBDC
\item All implementations must either use restrictive hardware elements and/or introduce
counterparty risk.
- \item $\Rightarrow$ Permanent offline features weaken a CBDC solution (privacy, security)
- and the existing physical cash system (emergency-preparedness).
- \item $\Rightarrow$ We recommend a tiered approach:
+ \item[$\Rightarrow$] Permanent offline features weaken a CBDC 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 CBDC
\item (Optional:) Limited offline mode for network outages
\item Physical cash for emergencies (power outage, catastrophic cyber incidents)
\end{enumerate}
- \end{itemize}
\end{frame}
\begin{frame}{Taler: Project Status}
- \begin{itemize}
+\framesubtitle{\url{https://docs.taler.net/}}
+\begin{itemize}
\item Cryptographic protocols and core exchange component are stable
- \item Current focus: Merchant integration, RTGS / settlement integration, wallet backup
- \item Direct wallet-to-wallet payments are planned
- \item Pilot project at Bern University Cafeteria
- \item Internal alpha deployment with a German bank in progress
+ \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}
@@ -302,33 +315,42 @@ GNU Taler must ...
\end{frame}
\begin{frame}{Area I: System Integration and Partnerships}
+ \framesubtitle{\url{https://taler-systems.com/}}
+ Pilots with CB and international CB support organizations could:
\begin{itemize}
- \item Integration with the underlying settlement / RTGS layer
- \item Integration with KYC for Wallet-to-Wallet payments
- \item Analysis/exploration of regulatory considerations in different legislations
- \item Building awareness of Taler as a bearer-based retail CBDC
- \end{itemize}
-\end{frame}
-
-\begin{frame}{Area II: Security-focused Deployment and Operations}
+ \item Study integration with the underlying RTGS layer:
\begin{itemize}
- \item Further external security audits of Taler components
- \item Standardization of procedures for deploying and operating Taler components.
+ \item Develop standardized operational procedures
+ \item Assess transaction performance at scale
+ \item Perform cost analysis in CB environment
+ \item Assess effort for integration with commercial banks
+ \end{itemize}
+ \item Analyze regulatory considerations for different legislations
+% \item Building awareness of Taler as a bearer-based retail CBDC
+ \item Perform independent security audits of Taler components
+ \item Determine and possibly close gaps in the existing solution
\end{itemize}
\end{frame}
-\begin{frame}{Area III: Development/Research Extensions}
- Protocol extensions and "smart money":
+
+\begin{frame}{Area II: Development/Research Extensions}
+ \framesubtitle{\url{https://myoralvillage.org/}}
+We have ideas for protocol extensions and ``smart money'':
\begin{itemize}
- \item Direct wallet-to-wallet payments (instead of customer-to-merchant)
- \item Age-restricted payments for children
- \item Privacy-preserving auctions
+ \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}
-
- Usability extensions and research:
+CBs should also consider funding research to improve:
\begin{itemize}
- \item Improvement and research on wallet usability
+ \item General digital wallet usability and availability
\item Accessibility features for illiterate and innumerate users
+ \item Projects that facilitate integration at retailers
+ \begin{itemize}
+ \item Hardware and software support for embedded systems
+ \item Integration into off-the-self E-commerce systems
+ \end{itemize}
+ \item Protocol extensions for automated tax reporting
\end{itemize}
\end{frame}
@@ -337,12 +359,12 @@ GNU Taler must ...
\frametitle{Do you have any questions?}
\vfill
-References:
+Further reading:
{\tiny
\begin{enumerate}
- \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{David Chaum, Christian Grothoff and Thomas Moser.
+ {\em How to issue a central bank digital currency}.
+ {\bf SNB Working Papers, 2021}.}
\item{Jeffrey Burdges, Florian Dold, Christian Grothoff and Marcello Stanisci.
{\em Enabling Secure Web Payments with GNU Taler}.
{\bf SPACE 2016}.}
@@ -352,12 +374,15 @@ References:
\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}
+ \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{David Chaum, Amos Fiat and Moni Naor.
+ {\em Untraceable electronic cash}.
+ {\bf Proceedings on Advances in Cryptology, 1990}.}
\end{enumerate}
}
\begin{center}
