The GNU project has announced the release of the free electronic payment system GNU Taler 0.11, which offers customer anonymity while allowing for the identification of sellers to maintain transparency in tax reporting. Unlike Bitcoin, GNU Taler does not track where users spend their money but provides a way to trace fund receipts, with senders remaining anonymous. The system’s code is written in Python and is distributed under the licenses AGPLV3 and LGPLV3.
GNU Taler does not introduce its own cryptocurrency; instead, it operates with existing currencies such as dollars, euros, and bitcoins. Additional currency support can be established through a bank acting as a financial guarantor. The business model of GNU Taler revolves around exchange operations, converting money from conventional payment systems like Bitcoin, MasterCard, Sepa, Visa, Ach, and Swift into anonymous electronic currency within the same denomination. Users can transfer this electronic money to sellers, who can then exchange it back into traditional payment system-based real money.
All transactions in GNU Taler are secured using modern cryptographic algorithms to ensure reliability in the event of potential leaks of private keys belonging to customers, sellers, and exchange points. The database format allows verification of all transactions and ensures their consistency. Payment confirmation for sellers includes cryptographic evidence of the transfer as per the contract with the client, along with cryptographically signed confirmation of fund availability at the exchange point. Basic components within GNU Taler provide functionality for banks, exchange points, trading platforms, wallets, and auditors.
Development funding for GNU Taler is sourced from grants by the European Commission, the Swiss Secretary of State for Education, and the State Secretariat for Research and Innovation (SERI) in Switzerland. The ngi taler project is currently ongoing to create a product based on GNU Taler that is ready for use within the European Union.
Main updates include:
- The utility libeufin-nexus, used for bank requests, now supports