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Author Topic: Distributed BTC/USD exchange using regular chip-and-pin credit cards  (Read 2489 times)
Fujireloaded
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April 01, 2014, 08:18:49 PM
 #21

This is really, really cool.

Congrats!

I was wondering if the fraud detection system of banks would turn on since you're using the card all over the world. Probably this won't happen cause, as you said, they think the card is inserted physically?
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April 01, 2014, 08:25:50 PM
 #22

If you look at the phone interface in the video you'll see that the owner can declare the location of the card (if he wants to). It's declared as RO ("Romania") in the video. This allows you to select cards from your own country (or the same region, like the European Union).

But yes, your bank will think you are travelling a lot - they might call you a couple of times to ask if you've authorized those transactions - you can say yes and that should be the end of it.

The location is whatever the owner declares, it's not based on the issuer of the card. That should allow you to declare your location as China for instance if you plan to do a lot of trades/exchanges with users in China - you can proactively call you bank and tell them you will be travelling to China and that they shouldn't be worried about transactions coming from there.

Thanks for the feedback!
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April 02, 2014, 09:43:31 AM
 #23

Good but can be made great!
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April 02, 2014, 10:30:18 AM
 #24

Good but can be made great!

Thank you! What do you think it would take to make it go from Good to Great? Any specific features you'd like to see?
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