Re: [Taler] UI considerations for backup & sync

[Christian Grothoff]

On 4/22/20 5:37 PM, Torsten Grote wrote:
> On 2020-04-22 12:19, Christian Grothoff wrote:
>> the ECB told us that we must "urge" users to make backups and
>> basically inform them that it would be gross negligence on their part to
>> refuse to make a backup. Otherwise _we_ would be liable for losses from
>> a lack of backups.
> 
> Interesting! It seems there's some product decisions that are mostly
> driven by (informal?) regulator and potential customer feedback.

Well, we're entering discussions with the regulators right now. So far
regulatory requirements have been indeed informal based on preliminary
discussions -- but soon I hope they will be formal.

> I wonder why a digital wallet isn't treated like a physical one. It
> holds a limited amount of cash and if you lose it, tough luck. Or is the
> limited amount too low and we want to be able to handle larger amounts
> that require backups?

Well, we tried that argument with the ECB. They told us: no, treating a
digital wallet like a physical one will (*) not be allowed by the regulator.

(*): The statement came with the caveat that they are NOT the competent
regulator and that the actual regulator will be a national agency, they
were just pretty sure that all of those regulators in the Eurozone would
make this a hard requirement.

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