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- Update BIP75 Motivation and use cases to provide more color around reasoning and use of BIP75
NOTE: The BIP75 language no longer contains a description of the KYC compliance use case, as it is a single, very specific use-case that does not have any bearing on the technical specifications herein. BIP75 extends the original BIP70 Payment Protocol to become a two-way, encrypted messaging process, which can be used for a variety of reasons one of which is regulatory compliance.
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@@ -30,20 +30,19 @@ The key words "MUST", "MUST NOT", "REQUIRED", "SHALL", "SHALL NOT", "SHOULD", "S
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==Motivation==
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The motivation for defining this extension to the [[bip-0070.mediawiki|BIP70]] Payment Protocol is to allow 2 parties to exchange payment information in a permissioned and encrypted way such that wallet address communication can become a more automated process. Additionally, this extension allows for the requester of a PaymentRequest to supply a certificate and signature in order to facilitate identification for address release. This also allows for automated creation of offblockchain transaction logs that are human readable, containing who you transacted with, in addition to the information that it contains today.
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The motivation for defining this extension to the [[bip-0070.mediawiki|BIP70]] Payment Protocol is to allow two parties to exchange payment information in a permissioned and encrypted way, such that wallet address communication can become a more automated process. This extension also expands the types of PKI (public-key infrastructure) data that is supported, and allows it to be shared by both parties (with [[bip-0070.mediawiki|BIP70]], only the receiver could provide PKI information). This allows for automated creation of off-blockchain transaction logs that are human readable, now including information about the sender and not just the recipient.
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The motivation for this extension to [[bip-0070.mediawiki|BIP70]] is threefold:
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# Ensure that the payment details can only be seen by the participants in the transaction, and not by any third party.
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# Enhance the Payment Protocol to allow for store and forward servers in order to allow, for example, mobile wallets to sign and serve Payment Requests.
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# Allow a sender of funds the option of sharing their identity with the receiver. This information could then be used to:
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# Allow a sender of funds the option of sharing their identity with the receiver. This information could then be used to:
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#* Make Bitcoin logs more human readable
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#* Give the user the ability to decide who to release payment details to
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#* Allow an entity such as a political campaign to ensure donors match regulatory and legal requirements
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#* Allow for an open standards based way for regulated financial entities to meet regulatory requirements
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#* Make Bitcoin logs (wallet transaction history) more human readable
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#* Give the user the ability to decide whether or not they share their Bitcoin address and other payment details when requested
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#* Allow for an open standards based way for businesses to keep verifiable records of their financial transactions, to better meet the needs of accounting practices or other reporting and statutory requirements
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#* Automate the active exchange of payment addresses, so static addresses and BIP32 X-Pubs can be avoided to maintain privacy and convenience
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In short we wanted to make Bitcoin more human, while at the same time improving transaction privacy.
@@ -58,9 +57,9 @@ With this BIP, Bitcoin wallets could maintain an "address book" that only needs
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2. Individual Permissioned Address Release
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A Bitcoin wallet developer would like to allow users to view a potential sending party's identifying information before deciding whether or not to share payment information with them. Currently, [[bip-0070.mediawiki|BIP70]] specifies that the Merchant Server respond to a "pay now" style request with a PaymentRequest, releasing address and X.509 certificate identity information of the potential receiving party.
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A Bitcoin wallet developer would like to allow users to view a potential sending party's identifying information before deciding whether or not to share payment information with them. Currently, [[bip-0070.mediawiki|BIP70]] shares the receiver’s payment address and identity information with anyone who requests it.
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With this BIP, Bitcoin wallets could prompt a wallet user to release payment information while displaying identity information about the potential sending party via an included certificate. This gives the receiving party more control over who receives their payment and identity information, and could be helpful for businesses that need to follow KYC policies or wallets that want to focus on privacy.
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With this BIP, Bitcoin wallets could use the sender’s identifying information to make a determination of whether or not to share their own information. This gives the receiving party more control over who receives their payment and identity information. Additionally, this could be used to automatically provide new payment addresses to whitelisted senders, or to protect users’ privacy from unsolicited payment requests.
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3. Using Store & Forward Servers
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@@ -110,10 +109,11 @@ message InvoiceRequest {
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This enum is used in the newly defined [[#ProtocolMessage|ProtocolMessage]] and [[#EncryptedProtocolMessage|EncryptedProtocolMessage]] messages to define the serialized message type. The '''ProtocolMessageType''' enum is defined in an extensible way to allow for new message type additions to the Payment Protocol.
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