THELOGICALINDIAN - The World Wide Web Consortium W3C is developing a new all-around accepted to accredit oneclick defended online arcade and it will accommodate Bitcoin
Also Read: Mozilla Co-Founder Unveils ‘Brave Ledger’ with Bitcoin Micropayments
Bitcoin and Global Standards to Realize Web’s Full Potential
The W3C is alive with Apple, Google, Facebook and added e-commerce giants to radically advance online acquittal processes.
These improvements recognize the amazing opportunities blockchain brings to online payments for buyers (payers) and merchants (payees).
According to W3C and its cardinal partners, “Fragmentation of the acquittal mural is attached the abounding abeyant of the web, including abridgement of standards in areas such as:
Secure, One-Click Payments
To abode these limitations, the W3C is designing a all-around accepted that will acquiesce users to access their acclaim cards and added acute abstracts into any web browser aloof once. Afterward, the browser can automatically use this advice for all consecutive transactions.
Enhancing aegis is additionally one of the standard’s primary goals. Specifically, to assure acute information, the accepted will accomplish use of tokenization. The web browser charge accomplish a ancient acquittal badge to abstain sending acclaim card, aircraft address, and added acquittal details. This way, sensitive data is not arresting to any third-party.
Moreover, the new accepted will crave that the abstracts fields in online acquittal forms be abounding invisibly, acceptance one-click payments everywhere.
In this regard, the W3C and its Web Payments Working Group are developing a “Web API to acquiesce merchants (i.e., websites affairs concrete or agenda goods) to calmly acquire payments from altered acquittal methods with basal integration. User agents (e.g., browsers) will facilitate the acquittal breeze amid merchant and user.”
Bitcoin and the Payment Request API
These acquittal methods will accommodate bitcoin. As apparent in the Acquittal Request API, W3C Editor’s Draft dated September 20, 2016: “The methodData arrangement contains PaymentMethodData dictionaries absolute the acquittal adjustment identifiers for the acquittal methods that the website accepts and any associated acquittal adjustment specific data.”
In this connection, the abstract absolutely mentions Bitcoin.
Google, among the standard’s architects, has already alien the utility in its newest adaptation of the Chrome browser.
Chrome 53 for Android Payment Request API makes the checkout action easier and faster, said developers. According to Google, the Acquittal Request API “Provides connected acute APIs for developers to access users’ acquittal preferences in a constant format.”
This Payment Request API deeply saves accordant user data, and stores it in the browser. One there, it is accessible to be acclimated automatically every time the client interacts with an e-commerce checkout page.
Bitcoin Removes Intermediaries Completely
Unfortunately, alike with the new W3C standard, intermediaries will abide to boss the online acquittal process, accretion acquittal transaction costs.
On the added hand, bitcoin users can abolish intermediaries altogether, decidedly abbreviation transaction fees. Indeed, by advantageous with bitcoin, online one-click shoppers can abstain most fees card issuers and banks charge.
It’s auspicious that the W3C and best affecting e-commerce players are because the role of Bitcoin in transforming the web and the new economy.
It is acute that the internet of the approaching and the new bread-and-butter adjustment be based on a decentralized, secure, and borderless agenda currency, such as Bitcoin. Including Bitcoin allows the beheading of frictionless, transparent, pseudo-anonymous and defended payments.
What do you anticipate about the role of Bitcoin in the new W3C one-click acquittal standard? Let us apperceive in the comments below.
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