WebWallet - Design Choices

  1. IOU Clearing
  2. URL Naming
  3. JWS Format

IOU Clearing

WebWallet makes design choices focusing on transaction clearing for the Web, instead of transaction settlement for the Internet. Defining clearing as the process of determining obligations, and settlement as the actual process of fulfilling them, it therefore makes sense to use promises to pay in the form of IOUs as a way represent information about debts in a given context.

URL Naming

URLs are a useful convention for both naming and addressing in an information space. Besides the obvious benefits of Web compatibility, URLs are a way to emphasize the importance of logical decentralization and abstraction design so that WebWallet remains open to other implementation scenarios with different transport protocols and communication networks.

JWS Format

WebWallet uses JSON-based data structures to represent transaction requests and records, along with cryptographic hashes and digital signatures to secure them. It borrows some structures and naming conventions from the JavaScript Object Signing and Encryption specifications (JWS, JWT), but for the sake of extensibility and generality, it does not comply with the standards.

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