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RE: NFC Cryptocard for Venezuelans
This company has long had a payment system called "Cryptobuyer Pay" which already works in several stores in Venezuela. It is a mobile application with which merchants generate a QR code that they share with the customer at the time of payment.
They have also installed several ATMs that work in the same way based on QR code.
These NFC cards will join in merchants affiliated with Cryptobuyer Pay and in ATMs as well.
I don't know why the company decided to apply the NFC system to the cards, but if you see the images you can see that the physical cards also have a QR code.
Yes. I was trying to understand how the system works (technically). I think the private key must probably be in the NFC card... (and that's what is a bit dangerous)
But if it is encrypted with a code or passphrase, then it is less prone to be hacked.
Probably its the app that hold the priv key, and then generates the transaction (via NFC or QR code) which the 2nd party can sign/verify.
Anyway, nice to know the extra info.
You're right, I hadn't thought about that, dear friend @forykw.
In that case what would be the advantage of having the physical card? It would be the same as doing the transaction with the phone.
The NFC system is to prevent you from having to give your card to another person or pass it through a slot. With NFC you will always have the card in your hand.
But the security system is not clear to me. I imagine that you scan the QR code to access your card balance, but at some point you should enter a secret PIN or something like that.
yep, I guess it will be something like that. I have used something close to it in the past. Like on smartcash for example.
I have seen some BTC ATMs installed on the border between Colombia and Venezuela. These ATMs print a voucher with QR code. But we will have to wait for the official launch of these physical cards to corroborate their operation. Or maybe I could send an email to the company asking for these details.