Just as Whatsapp identifies your mobile number the moment you install it,
is it possible to develop an app which when installed could generate a public key and link your mobile number?
then send that information to the central server, by this way the central server shall have all the bitcoin public keys and the related mobile numberof whoever installed that app..
if Alice wants to send 1btc to a bob's number 9898989898...
The app bascially sends the fund to a default address of the central server along with the information of which mobile number it should be transacted.
The server looks up the database and sends the fund accordingly..
I truly believe if we want cryptocurrency to go mainstream in India then mobile phone are the doors for it!
What are your thoughts about this?
The issue with this model is, what if that central server gets compromised? What if a hacker puts his bitcoin address against all mobile numbers?
A very similar idea but at a massive scale and also in a way to overcome the above problem is in development by one of my clients. Let see where it goes. Cannot disclose more info for now.
