The GNU Project has introduced the free electronic payment system GNU Taler 1.0. The assignment of version number 1.0 is connected to the platform's readiness for the implementation of operational payment services and the stabilization of software interfaces, for which backward compatibility will be ensured in the future. Points of sale using the GNU Taler payment service can now be legally established in Switzerland and used by individuals and legal entities for transactions in Swiss francs.
It is stated that the use of GNU Taler for selling goods in Switzerland is now legal and users' assets are protected from potential risks (client deposited assets are not subject to deposit insurance and are held in a separate bank account). Since the system has just launched and there are currently no stores accepting payments through GNU Taler, the service is still in public beta status. The developers of GNU Taler are urging business owners in Switzerland to begin implementation. A company, Taler Operations AG, has been established to support and maintain the payment system.
Businesses wishing to set up payment sales using GNU Taler only need to have an account with any Swiss bank and launch the backend provided by the platform to organize sales. The backend is linked to the account by specifying the IBAN (International Bank Account Number) in the settings. The backend allows the generation of QR codes for customers to pay for goods whose prices are set by the seller or chosen by the buyer.
There is a plugin for integrating the launched payment service with the platform for creating online stores WooCommerce, as well as a plugin for the ticket sales platform Pretix. To organize point of sale operations, manage payments, and handle orders, an application optimized for settling with visitors in restaurants is provided for the Android platform.
The GNU Taler code is written in Python and is distributed under the AGPLv3 and LGPLv3 licenses. It includes basic components that allow the operation of a bank, exchange points, marketplace, wallet, and auditor. The system enables the identification of sellers for tax reporting but ensures anonymity for buyers. The development is funded by grants from the European Commission and the Swiss State Secretariat for Education, Research and Innovation (SERI).
The GNU Taler payment system is not tied to its own cryptocurrency and works with existing currencies such as dollars, euros, and bitcoins. Support for new currencies is provided through a linkage to a bank that acts as a financial guarantor for the transactions made. The project promotes a business model based on exchange operations — money from traditional payment systems such as Bitcoin, Mastercard, SEPA, Visa, ACH, and SWIFT is converted into anonymous electronic money in the same currency. Users can transfer electronic money to sellers, who can then exchange it back into real money at the exchange point.
Transactions already made in GNU Taler maintain their integrity even if clients', vendors', and exchange points' private keys are leaked — the database format allows for verification of all completed transactions and confirmations of their consistency. The cryptographic proof of transfer within the contract with the client serves as the payment confirmation for the vendors, along with a cryptographically signed confirmation of the availability of funds at the exchange point. The system does not reveal how the client spends their money but allows tracking of funds arriving to the recipient, preserving the sender's anonymity. This approach addresses issues with tax audits typical of BitCoin.
Source: opennet.ru
