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Re: [Taler] How to trust an auditor?

From: Christian Grothoff
Subject: Re: [Taler] How to trust an auditor?
Date: Mon, 14 Nov 2022 04:35:40 +0100
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Hi Florian,

Well, exchanges don't really have accounts. If you are connected via EBICS to the banking system, there is no problem as the exchange would settle with whatever bank (or bank account) the merchant has, independent on which bank (or bank account) the customer has.

That said, our current *demo* bank ("libeufin sandbox") is a stand-alone bank and doesn't allow federation. It's for a demo after all ;-).

Now, for P2P payments, the recipient may have KYC data at one exchange, and the payer may have withdrawn coins from a different exchange. In that case, our design calls for something we call a wad transfer. However, that is not yet implemented.

Regardless, in none of these cases the exchanges need to trust each other; what matters is that they need to have an underlying RTGS for settlement.

I hope this helps!

Happy hacking!


On 11/14/22 02:12, Florian Jung via Taler wrote:
Hi Sebastian,

thank you for that quick reply! :)

I plan (for learning purposes) to create a setup with two different exchanges; payer and payee would have their accounts at different exchanges then.

Does this currently work already? How is trust established here? Does the payee need to trust the payer's exchange, or do only the exchanges need to trust each other (e.g. by configuration)?


On 11/14/22 02:06, Sebastian Javier Marchano wrote:
Hi Florian,

you've got it right, exchange and auditor management is in our roadmap but not implemented yet.


On Sun, 13 Nov 2022 at 21:59, Florian Jung via Taler <taler@gnu.org> wrote:


    As I read through the exchange setup manual, I found out that I can /
    need to(?) sign my exchange's keys with an auditor key. To me, this
    kinda makes sense in a real-world scenario, because I don't want to
    trust every single bank by its own, but I would like to trust, for
    example, "the euro-zone's auditor" (and every bank that is audited
    by them).

    However, how do I configure this in my Android wallet? I found a
    list of
    exchanges, but is there also a way to set up a certain auditor as

    Or did I misunderstand the purpose of these auditors?

    Best regards,


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