Replaced manifesto with architecture vision
authorAdrian Hope-Bailie <adrian@hopebailie.com>
Mon, 29 Jun 2015 13:00:54 +0200
changeset 253 86b6164d3ed1
parent 239 304a905f7e1b
child 256 fca56ac57c26
Replaced manifesto with architecture vision
latest/manifesto/index.html
latest/vision/index.html
--- a/latest/manifesto/index.html	Mon Jun 22 13:23:12 2015 +0200
+++ /dev/null	Thu Jan 01 00:00:00 1970 +0000
@@ -1,328 +0,0 @@
-<!DOCTYPE html>
-<html>
-  <head>
-    <title>The Value Web Manifesto</title>
-    <meta http-equiv='Content-Type' content='text/html;charset=utf-8'/>
-    <script src='//www.w3.org/Tools/respec/respec-w3c-common' class='remove'></script>
-    <script class='remove'>
-      var respecConfig = {
-          // specification status (e.g. WD, LCWD, NOTE, etc.). If in doubt use ED.
-          specStatus:           "ED",
-
-          // the specification's short name, as in http://www.w3.org/TR/short-name/
-          shortName:            "value-web-manifesto",
-
-          // if you wish the publication date to be other than today, set this
-          //publishDate:  "2015-04-16",
-
-          // if there is a previously published draft, uncomment this and set its YYYY-MM-DD date
-          // and its maturity status
-          // previousPublishDate:  "1977-03-15",
-          // previousMaturity:  "CG-DRAFT",
-
-          // if there a publicly available Editor's Draft, this is the link
-          edDraftURI: "http://w3c.github.io/webpayments-ig/latest/manifesto/index.html",
-
-          // if this is a LCWD, uncomment and set the end of its review period
-          // lcEnd: "2009-08-05",
-
-          // if you want to have extra CSS, append them to this list
-          // it is recommended that the respec.css stylesheet be kept
-          //extraCSS:             [],
-
-          // editors, add as many as you like
-          // only "name" is required
-          editors:  [
-              { name: "Adrian Hope-Bailie", url: "http://medium.com/@ahopebailie",
-                company: "Ripple Labs", companyURL: "http://www.ripplelabs.com/" }
-          ],
-
-          // authors, add as many as you like.
-          // This is optional, uncomment if you have authors as well as editors.
-          // only "name" is required. Same format as editors.
-
-          authors:  [
-              { name: "Adrian Hope-Bailie", url: "http://medium.com/@ahopebailie",
-                company: "Ripple Labs", companyURL: "http://www.ripplelabs.com/" },
-              { name: "Ian Jacobs", url: "http://www.w3.org/People/Jacobs/",
-                company: "W3C", companyURL: "http://www.w3.org/" },
-              { name: "Manu Sporny", url: "https://manu.sporny.org/",
-                company: "Digital Bazaar", companyURL: "http://digitalbazaar.com/" }
-          ],
-
-          otherLinks: [{
-            key: "Version control",
-            data: [{
-              value: "Github Repository",
-              href: "https://github.com/w3c/webpayments-ig"
-            }, {
-              value: "Issues",
-              href: "http://www.w3.org/Payments/IG/track/products/8"
-            }]
-          }],
-
-          // maximum level of table of contents
-          maxTocLevel: 3,
-
-          // name of the WG
-          wg:           "Web Payments Interest Group",
-
-          // URI of the public WG page
-          wgURI:        "http://www.w3.org/Payments/IG/",
-
-          // name of the public mailing to which comments are due
-          wgPublicList: "public-webpayments-ig-comments",
-
-          // URI of the patent status for this WG, for Rec-track documents
-          // !!!! IMPORTANT !!!!
-          // This is important for Rec-track documents, do not copy a patent URI from a random
-          // document unless you know what you're doing. If in doubt ask your friendly neighbourhood
-          // Team Contact.
-          wgPatentURI:  "http://www.w3.org/2004/01/pp-impl/73816/status",
-
-      };
-    </script>
-  </head>
-<body>
-  <section id='abstract'>
-    <p>
-This document is the vision statment of the W3C Web Payents Interest Group.
-It describes a future that the group aspires to in which value exchange 
-is performed easily and securely on the Open Web Platform and provides the
-background to the use cases, goals and architectural vision of the group.
-    </p>
-  </section>
-
-  <section id='sotd'>
-    <p>
-This document is a work in progress and is being released early and often
-using an agile process; it is currently incomplete.
-    </p>
-  </section>
-
-  <section>
-    <h2>Introduction</h2>
-    <p>
-The World Wide Web has had a tremendous global impact, increasing access to 
-information and education. However, this has not yet translated into ubiquitous 
-access to efficient financial systems and the ability to transact with anyone 
-in the world.
-    </p>
-    <p>
-The Web connected fragmented documentation systems with a common set of standards. 
-Today’s systems of value exchange lack a set of common standards, and are 
-still proprietary, disconnected, and opaque.
-    </p>
-    <p>
-This document outlines a vision for the Web where value is exchanged as 
-freely and easily as information. The Web unified varied and disparate 
-closed information networks through open standards and protocols. In the 
-same way, we should the Value Web will create an open and interconnected network 
-of value exchange linking all of the closed networks that exist today.
-    </p>
-    <p>
-Realising this vision would have profound and far reaching economic and social 
-impacts on financial inclusion, development of small businesses, liquidity of 
-markets, and greater velocity and efficiency of money. 
-    </p>
-  </section>
-  <section>
-    <h2>Principles of the Value Web</h2>
-    <p>
-This vision can only be realised through the collaboration of a variety of 
-stakeholders united in their agreement with the following principles:
-    </p>
-    <section>
-      <h3>There are many value networks and there always will be</h3>
-      <p>
-Ownership of anything of value is recorded and tracked within numerous and 
-diverse networks of trust. The changing ownership or transfer of value within 
-those networks is recorded in a ledger of some form or another. These ledgers 
-are maintained by custodians such as...
-      </p>
-      <ul>
-        <li>Commercial and Retail Banks</li>
-        <li>Central banks</li>
-        <li>Clearinghouses</li>
-        <li>Digital wallets</li>
-        <li>Registers of deeds</li>
-        <li>Stock Exchanges</li>
-        <li>Blockchains</li>
-        <li>Patent offices</li>
-      </ul>
-      <p>
-… and many more.
-      </p>
-      <p>
-Greater diversity of custodians, ledgers and assets is a good thing, but without 
-a set of Web standards to connect them, increasing the number and diversity 
-will quickly become unsustainable.
-      </p>
-      <p>
-The world is tending towards increased global trade and interconnectivity. The 
-lack of standards is likely to continue to increase costs and stand in the way 
-of economic progress.      
-      </p>
-    </section>
-    <section>
-      <h3>There are many ways to connect value networks</h3>
-      <p>
-There are numerous and varied methods of moving value between owners, both within 
-the same network and between disparate networks. Each one of these methods has 
-different strengths and weaknesses depending on the scenario.
-      </p>
-      <p>
-Some methods of moving value between owners have higher risks and lower fees.
-      </p>
-      <p>
-[Illustration - Cash]
-      </p>
-      <p>
-Others have lower risks and higher fees.
-      </p>
-      <p>
-[Illustration - Cards]
-      </p>
-      <p>
-The open architecture of the Web enables a rapid pace of innovation which has 
-increasingly resulted in new types of value exchange methods.
-      </p>
-      <p>
-[Illustration - Crypto-currencies]
-      </p>
-      <p>
-This vision embraces all of these existing technologies as well as those that 
-are in active development today.
-      </p>
-    </section>
-    <section>
-      <h3>Value moves as freely as information on the Web</h3>
-      <p>
-The Web increased efficiency and lowered costs of information exchange by many 
-orders of magnitude. These sorts of efficiency gains are possible via the Web 
-for the exchange of value.
-      </p>
-      <p>
-[Illustration - ?]
-      </p>
-    </section>
-    <section>
-      <h3>The Value Web is open and accessible</h3>
-      <p>
-It is a long-standing W3C principal to create a Web that can be used by all people 
-on any device. Nobody is arbitrarily denied access to the Internet of Value.
-      </p>
-      <p>
-[Illustration - diverse users of the Value Web]
-      </p>
-    </section>
-    <section>
-      <h3>The Value Web is built on trust and security</h3>
-      <p>
-Value exchange on the Web is done in an environment of honesty and trust built on 
-secure and resilient systems. It provides tools that allow law-abiding consumers, 
-merchants and financial institutions to have confidence in the individuals and entities 
-with whom they transact, to be free to choose who those individuals and entities are, 
-and to be able to trust that these counterparties are who they claim to be.
-      </p>
-      <p>
-[Illustration - trust/shaking hands, security/lock]
-      </p>
-    </section>
-    <section>
-      <h3>The Value Web is simultaneously private and transparent</h3>
-      <p>
-There is a need for transparency in moving value on a global network between entities 
-that are subject to different legal and regulatory systems in different jurisdictions. 
-However, privacy as a fundamental right of all participants.
-      </p>
-      <p>
-The future of value exchange via the Web offers the transparency required for all 
-participants to operate within the law but ensures that the privacy of participants 
-is always guaranteed, through the use of secure open protocols incorporating end-to-end 
-data protection.
-      </p>
-      <p>
-[Illustration - masked/protected data]
-      </p>
-    </section>
-    <section>
-      <h3>No single entity controls the Value Web</h3>
-      <p>
-The Web is a public good and is not subject to the whims of one group or another. It is 
-distributed, global, and neutral with respect to payment networks, currencies, 
-technologies, service providers, and participating entities.
-      </p>
-      <p>
-[Illustration - distributed system]
-      </p>
-    </section>
-    <section>
-      <h3>The Value Web is built on open standards</h3>
-      <p>
-In order for value networks, settlement systems, and related services to compete on a 
-level playing field, the foundations of value exchange via the Web must be open, transparent, 
-and neutral. Customers, merchants, financial institutions, and governments stand to benefit 
-from a strong foundation built on open standards..
-      </p>
-      <p>
-The Value Web is built on OpenStand’s <a href="http://open-stand.org/about-us/principles/">five 
-principles for modern standards</a> and it’s standards are free to acquire, free to adopt, 
-and not encumbered by patents.
-      </p>
-      <p>
-[Illustration - Open stand logo?]
-      </p>
-    </section>
-    <section>
-      <h3>The Value Web is simple and extensible</h3>
-      <p>
-Today’s financial system is complex and one of the key challenges for the architects of the Web 
-will be to abstract key areas of complexity and create a simple, universal framework that supports 
-existing systems while enabling a smooth transition to more advanced, extensible, and equitable 
-systems.
-      </p>
-      <p>
-Rules and regulations around the world differ widely. By creating an extensible set of standards, 
-the Web enables individuals or entire value networks to work out the details that are relevant 
-to them. This provides institutions with the flexibility to comply with their local regulations 
-and follow their local customs while connecting globally.
-      </p>
-      <p>
-The standards for value exchange on the Web should be clearly documented to lower the barrier to 
-entry for any entity that wishes to integrate with, or extend it.
-      </p>
-      <p>
-[Illustration - developer]
-      </p>
-    </section>
-  </section>
-
-  <section>
-    <h2>Building an Equitable Global Economy via the Web</h2>
-    <p>
-The Web connects three billion people today and will connect at least three billion more by the 
-year 2020. It is ubiquitous and that ubiquity will only grow over the next decade. The Web is the 
-best connector of information systems that exists today, but there is still much work that needs 
-to be done when connecting the economic systems and value networks that span the world over.
-    </p>
-    <p>
-It is our vision to connect the economic systems of the world via the Web using the principles 
-outlined in this document. Doing so will result in an global architecture for value exchange, built 
-openly, secure by design, and accessible to all.
-    </p>
-  </section>
-
-  <section class="appendix">
-    <h2>Acknowledgements</h2>
-    <p>
-The editors wish to thank the participants of the
-<a href="http://www.w3.org/Payments/IG/">Web Payments Interest Group</a>
-for discussions about and contributions to this document, as well as the
-<a href="https://www.w3.org/community/webpayments/">Web Payments Community
-Group</a> for earlier work that informed this document.
-    </p>
-  </section>
-
-  </body>
-</html>
--- /dev/null	Thu Jan 01 00:00:00 1970 +0000
+++ b/latest/vision/index.html	Mon Jun 29 13:00:54 2015 +0200
@@ -0,0 +1,235 @@
+<!DOCTYPE html>
+<html>
+  <head>
+    <title>A Vision for a Web Payments Architecture</title>
+    <meta http-equiv='Content-Type' content='text/html;charset=utf-8'/>
+    <script src='http://www.w3.org/Tools/respec/respec-w3c-common' class='remove'></script>
+    <script class='remove'>
+      var respecConfig = {
+          // specification status (e.g. WD, LCWD, NOTE, etc.). If in doubt use ED.
+          specStatus:           "ED",
+
+          // the specification's short name, as in http://www.w3.org/TR/short-name/
+          shortName:            "web-payments-vision",
+
+          // if you wish the publication date to be other than today, set this
+          //publishDate:  "2015-04-16",
+
+          // if there is a previously published draft, uncomment this and set its YYYY-MM-DD date
+          // and its maturity status
+          // previousPublishDate:  "1977-03-15",
+          // previousMaturity:  "CG-DRAFT",
+
+          // if there a publicly available Editor's Draft, this is the link
+          edDraftURI: "http://w3c.github.io/webpayments-ig/latest/vision/index.html",
+
+          // if this is a LCWD, uncomment and set the end of its review period
+          // lcEnd: "2009-08-05",
+
+          // if you want to have extra CSS, append them to this list
+          // it is recommended that the respec.css stylesheet be kept
+          //extraCSS:             [],
+
+          // editors, add as many as you like
+          // only "name" is required
+          editors:  [
+              { name: "Adrian Hope-Bailie", url: "http://medium.com/@ahopebailie",
+                company: "Ripple Labs", companyURL: "http://www.ripplelabs.com/" }
+          ],
+
+          // authors, add as many as you like.
+          // This is optional, uncomment if you have authors as well as editors.
+          // only "name" is required. Same format as editors.
+
+          authors:  [
+              { name: "Adrian Hope-Bailie", url: "http://medium.com/@ahopebailie",
+                company: "Ripple Labs", companyURL: "http://www.ripplelabs.com/" },
+              { name: "Ian Jacobs", url: "http://www.w3.org/People/Jacobs/",
+                company: "W3C", companyURL: "http://www.w3.org/" }
+          ],
+
+          otherLinks: [{
+            key: "Version control",
+            data: [{
+              value: "Github Repository",
+              href: "https://github.com/w3c/webpayments-ig"
+            }, {
+              value: "Issues",
+              href: "http://www.w3.org/Payments/IG/track/products/8"
+            }]
+          }],
+
+          // maximum level of table of contents
+          maxTocLevel: 3,
+
+          // name of the WG
+          wg:           "Web Payments Interest Group",
+
+          // URI of the public WG page
+          wgURI:        "http://www.w3.org/Payments/IG/",
+
+          // name of the public mailing to which comments are due
+          wgPublicList: "public-webpayments-ig-comments",
+
+          // URI of the patent status for this WG, for Rec-track documents
+          // !!!! IMPORTANT !!!!
+          // This is important for Rec-track documents, do not copy a patent URI from a random
+          // document unless you know what you're doing. If in doubt ask your friendly neighbourhood
+          // Team Contact.
+          wgPatentURI:  "http://www.w3.org/2004/01/pp-impl/73816/status",
+
+      };
+    </script>
+  </head>
+<body>
+  <section id='abstract'>
+    <p>
+This document is the architecture vision statment of the W3C Web Payments Interest 
+Group. It describes the principles upon which a Web Payments architecture should be built.
+    </p>
+  </section>
+
+  <section id='sotd'>
+    <p>
+Previous versions of this document were maintained on the group's 
+<a href="https://www.w3.org/Payments/IG/wiki/Payment_Agent_Task_Force/Vision">wiki</a>.
+    </p>
+    <p>
+On <strong>28 May 2015</strong> the chairs of the Web Payments Interest Group issued 
+a <a href="https://lists.w3.org/Archives/Public/public-webpayments-ig/2015May/0220.html"><strong>call for consensus</strong></a></a> 
+  to determine whether the group will publish this as an endorsed vision for Web payments.
+    </p>
+  </section>
+
+  <section>
+    <h2>Web Principles</h2>
+    <p>
+Any architecture grounded in the Web should respect well-known Web principles such as:
+    </p>
+    <ul>
+      <li>Adhering to Web architecture fundamentals</li>
+      <li>Supporting network independence</li>
+      <li>Supporting device independence</li>
+      <li>Providing accessibility for payers and payees with disabilities</li>
+      <li>Being machine-readable where possible to enable automation and engagement of non-human entities</li>
+      <li>Protecting the privacy of all participants</li>
+      <li>Being open and usable by anyone, including those who are not yet connected to the Web</li>
+    </ul>
+  </section>
+  
+  <section>
+    <h2>Desireable properties of a Web Payments Architecture</h2>
+    <p>
+In addition to the priciples above, the following are desirable properties specific to a Web payments architecture:
+    </p>
+    <section>
+      <h3>Provides payees and payers unencumbered knowledge and choice in how to undertake payments</h3>
+      <p>
+It is consistent with the purpose of the Web to enable payees to receive payments, and payers to pay, 
+using their preferred payment instruments and payment schemes. The Web payments architecture must not 
+restrict these choices but rather foster transparency of choices available. 
+      </p>
+    </section>
+    <section>
+      <h3>Improves the user experience</h3>
+      <p>
+We want to improve the user experience in a variety of ways. These include reducing the need to provide 
+data as part of a transaction (helpful on mobile in particular), simplifying payment user interfaces and 
+interactions, standardizing the payment flow across all Web applications, and making it easier to make 
+payments from a wide range of devices, such as computers, portable devices, televisions, eBooks, and 
+automobiles. 
+      </p>
+      <p>
+Taken together, we expect these improvements will lower the rate of "cart abandonment" and 
+increase the velocity of payments made over the Web.
+      </p>
+    </section>
+    <section>
+      <h3>Supports a wide spectrum of security and privacy needs to meet industry expectations</h3>
+      <p>
+Trust in Web payments is critical to their widespread adoption. Because of this the architecture must provide 
+the ability for participants in the payment process to confidently, securely and accurately identify and 
+connect to other participants that are party to the payment. 
+      </p>
+      <p>
+The architecture should not disclose private details of the participants identity or other sensitive information 
+as part of the payment process unless required by operational, legal or jurisdictional rules, or when deliberately 
+consented to (e.g. as part of a loyalty program) by the owner of the information. 
+      </p>
+      <p>
+The Web payments architecture should make this easy by standardizing the mechanisms available to issue, exchange 
+and verify credentials as part of a payment transaction, as well as a secure mechanism for the exchange of identity 
+information when it is explicitly required as part of a payment. To accomplish this, it is expected that the 
+architecture will also need to support an evolving variety of authentication and identification techniques 
+(e.g. multifactor, biometric, etc.) which can be used independent of or in concert with a participants identity data. 
+      </p>
+    </section>
+    <section>
+      <h3>Encapsulates existing payment schemes and enables new schemes</h3>
+      <p>
+In order to achieve this, we anticipate that the architecture will be:
+      </p>
+      <ul>
+        <li><strong>Minimalist</strong>, in order to accommodate diverse existing and emerging schemes.</li>
+        <li><strong>Extensible</strong>, so that above and beyond the minimum information required for interoperability, parties 
+          involved in payments can exchange the information they require, using the formats and protocols they prefer.</li>
+      </ul>
+    </section>
+    <section>
+      <h3>Encourages efficient settlement</h3>
+      <p>
+Different payment schemes move value at different speeds. The Web payments architecture should not impose additional 
+delays, so that payment information circulates as efficiently as possible and the final settlement (exchange of value) 
+is done as quickly as possible.
+      </p>
+    </section>
+    <section>
+      <h3>Facilitates compliance with legal & regulatory obligations</h3>
+      <p>
+The Web is a global system which must operate across many legal and regulatory jurisdictions. While there are common 
+requirements across jurisdictions, it is not cost-effective to create a single system that satisfies all legal and 
+regulatory obligations in all jurisdictions. 
+      </p>
+      <p>
+As a result, a successful architecture for payments on the web will account 
+for variability with regard to legal and regulatory frameworks it can support. The group envisions an extensible set of 
+'hooks' that enable participant-authorized parties to comply with legal and regulatory requirements in different 
+jurisdictions in a secure and more standard manner.
+      </p>
+      <p>
+We believe the industry will benefit from standards that lower the cost (e.g. through automation) of addressing 
+needs related to Know Your Customer, Anti-Money Laundering, and other requirements related to due diligence and 
+customer identity.
+      </p>
+    </section>
+    <section>
+      <h3>Enables monetization on the spectrum of Web to native apps</h3>
+      <p>
+Web developers will be able to integrate payments smoothly into a variety of user experiences on the Web, including 
+in-app payments, downloads, and subscriptions. This is key to opening up new revenue generating opportunities on the 
+Web that were not previously viable due to the costs incurred and poor user experiences required in processing payments.
+      </p>
+    </section>
+    <section>
+      <h3>Bridges distributed value networks</h3>
+      <p>
+The Web will ultimately serve as a bridge between open and closed value exchange networks, enabling interoperable value 
+exchange. This will enable both payers and payees to seamlessly make payments using a variety of previously 
+non-interoperable payment instruments. 
+      </p>
+    </section>
+  </section>
+
+  <section class="appendix">
+    <h2>Acknowledgements</h2>
+    <p>
+The editors wish to thank the participants of the
+<a href="http://www.w3.org/Payments/IG/">Web Payments Interest Group</a>
+for discussions about and contributions to this document, as well as the
+<a href="https://www.w3.org/community/webpayments/">Web Payments Community
+Group</a> for earlier work that informed this document.
+    </p>
+  </section>
+
+  </body>
+</html>