Comment Re:I agree (Score 1) 111
With cash I have to authorize every single transaction by reaching into my pocket. With credit/debit card transactions, I only need to have reached into my pocket at some time in the past to pay. Cash and bitcoin put the power over payment back into your hands, instead of the merchant. You, (or someone who stole your key) has to authorize every single transaction. It is true that it makes takesee backsees harder to pull off. But, they're already a pain anyway. Mastercard doesn't provide any recourse for unauthorized transactions, you have to take that issue up with the merchant. They just make it easier for their paying customer to withdraw your money.
Some form of crypto should be used for ALL digital transactions. The fact that when I make a purchase with my MasterCard provides the party that I'm paying enough information to continue making charges whenever they like absolutely infuriates me. It means I have to trust both the integrity as well as the security practices for every place where I use my card. If only we had a technology that could fit on a credit card that could digitally sign a transaction so that a register never sees the key. Maybe that kind of technology will be made available 10 years ago or so.
Some form of crypto should be used for ALL digital transactions. The fact that when I make a purchase with my MasterCard provides the party that I'm paying enough information to continue making charges whenever they like absolutely infuriates me. It means I have to trust both the integrity as well as the security practices for every place where I use my card. If only we had a technology that could fit on a credit card that could digitally sign a transaction so that a register never sees the key. Maybe that kind of technology will be made available 10 years ago or so.