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[โ€“] 5 points 4 months ago (8 children)

It is technically impossible to make it function without the internet. It's called the double spending problem and it can only be solved with some sort of global consensus state

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  • [โ€“] 1 point 4 months ago (2 children)

    How do banks work then? Transfers in cash? Or does that global consensus state in fact not rely on realtime communication?

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  • [โ€“] 2 points 4 months ago (1 child)

    Banks form a network. Information is easier to copy than raw materials. Optic fiber is fast you know

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  • [โ€“] 2 points 4 months ago

    And the digital euro is not connected to a bank? The digital euro is supposed to be a souvereign EU way of paying independent from 3rd party providers, yet somehow they can't do what they can for 'technical reasons'? Where is the digital euro actually happeneing? In some magical cloud that is totally not just someone elses (...a banks ...) computer? Ffs... ages ago we sorted out the "double spending" problem to pay with just our signature, yet now it's technically impossible without a constant internet connection...

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  • [โ€“] 1 point 4 months ago (2 children)

    How do payments on planes work?

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  • [โ€“] 1 point 4 months ago

    Poorly. The transactions clear when the plane lands, and this is a significant headache for airlines. More modern airlines have satellite internet onboard for this purpose, but it costs a lot to install on an airframe.

    Source: worked in payments and asked an airline head pilot.

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  • [โ€“] 1 point 4 months ago (1 child)

    They will probably use secure elements (a small, tamper-resistant chip in your phone) and limit transaction amounts when you're offline. As long as the other party has an internet connection, it will be impossible to double spend. There may also be a warning about an increased risk if you attempt an offline transaction. However, if there is no internet access and the fraudster is able to inevitably spoof/emulate/attack a secure element, the security mechanisms would fail and a double spend would be possible. This will be detected as soon as internet access is available again. As it requires a personal presence, the police should be reasonably capable of fighting such crime.

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  • [โ€“] 2 points 4 months ago

    As long as the other party has an internet connection, it will be impossible to double spend

    This is online not offline

    Look if the tech is shitty enough to require installing facial recognition in every single store it will cause enormous amounts of problems

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