Digital Payment System GNU Taler Gets Green Light to Operate in Switzerland

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GNU Taler, the privacy-preserving digital payment system, is now Swiss ready.

GNU Taler (a swiss FLOSS alternative to Visa, Mastercard and Paypal) begins operating in Switzerland as Version 1.0 releases

GNU Taler begins operating in Switzerland, distributed by the Taler Operations AG. Gnu Taler aims to be a “digital wallet” and has been used by the swiss national bank as well as the european national bank as a example for how a digital currency handed out by the state could work. It aims to be as privacy preserving as cash for the buyer while not allowing the seller to evade taxes.

Currently the Taler is brought out by a special organisation, the “Taler Operations AG”, and not the national bank, although both the national bank as well as the Taler Team have shown interest in a official digial currency by the national bank based on the Taler. But we need to relativate as the national council has stated that the introduction of a digital currency would probably take relatively major legislative changes and therefore take a bit of time.

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Taler does not require any Blockchain technology, and is also not based on proof-of-work or any other distributed consensus mechanism. Instead, Taler is based on blind signatures.

Very cool, they theoretically won’t be able to tie who is making a purchase with any specific transaction. If this gets wider adoption we’d finally have private digital transactions. No permanent record of all wallets tied to each transaction like with bitcoin, even cash has a serial number that can be tracked.

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