After a year of development, the GNU project released the free GNU Taler 0.9 electronic payment system, which provides anonymity to buyers, but retains the ability to identify sellers for transparency in tax reporting. The system does not allow tracking information about where the user spends money, but provides a means to track the receipt of funds (the sender remains anonymous), which solves the tax audit problems inherent in BitCoin. The code is written in Python and distributed under the AGPLv3 and LGPLv3 licenses.
GNU Taler does not create its own cryptocurrency, but works with existing currencies, including dollars, euros, and bitcoins. Support for new currencies can be provided through the creation of a bank that acts as a financial guarantor. GNU Taler's business model is based on performing exchange transactions - money from traditional payment systems such as BitCoin, Mastercard, SEPA, Visa, ACH and SWIFT is converted into anonymous electronic money in the same currency. The user can transfer electronic money to merchants, who can then exchange it back at the exchange point for real money represented by traditional payment systems.
All transactions in GNU Taler are secured using state-of-the-art cryptographic algorithms to ensure authenticity even if the private keys of customers, merchants, and exchanges are leaked. The database format provides the ability to verify all completed transactions and confirm their consistency. Payment confirmation for merchants is a cryptographic proof of the transfer within the framework of the contract concluded with the client and a cryptographically signed confirmation of the availability of funds at the exchange point. GNU Taler includes a set of basic components that provide the logic for the operation of a bank, an exchange point, a trading platform, a wallet, and an auditor.
Major changes:
- Added support for confidential mobile payments made in P2P (peer-to-peer) mode through direct linking of the buyer application and the point-of-sale (POS) application.
- Added support for age-restricted payments (the merchant can set a minimum age limit, and the buyer is given the opportunity to confirm compliance with this requirement without disclosing confidential data).
- Improved the exchange point database schema, which is optimized for performance and scalability.
- The Python bank was replaced by the LibEuFin Sandbox toolkit with the implementation of server components that ensure the operation of banking protocols and emulate the simplest banking system for managing accounts and balances.
- The WebExtension-based wallet variant designed for use in browsers has been adapted to support the third version of the Chrome manifest.
Source: opennet.ru