--- 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>
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- shortName: "value-web-manifesto",
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- //publishDate: "2015-04-16",
-
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- // previousPublishDate: "1977-03-15",
- // previousMaturity: "CG-DRAFT",
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- 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.
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- { 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/" }
- ],
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- href: "https://github.com/w3c/webpayments-ig"
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- href: "http://www.w3.org/Payments/IG/track/products/8"
- }]
- }],
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- // name of the WG
- wg: "Web Payments Interest Group",
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-
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- wgPublicList: "public-webpayments-ig-comments",
-
- // URI of the patent status for this WG, for Rec-track documents
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- </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>
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+ specStatus: "ED",
+
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+ 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",
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+ { 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/" }
+ ],
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+ href: "https://github.com/w3c/webpayments-ig"
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+ href: "http://www.w3.org/Payments/IG/track/products/8"
+ }]
+ }],
+
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+ // name of the WG
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+
+ // URI of the public WG page
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+
+ // 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>