> Hopefully individuals will be able to use the Open Banking APIs to access their own data directly, but it looks like accreditation will be required, so probably not.
When you loan your money to a bank by depositing ledger dollars or cash - and they, since GLBA in 1999, invest it and offer less than a 1% checking interest rate - and they won't even give you the record of all of your transactions as CSV/OFX `SELECT * FROM transactions WHERE account_id=?`, you have to pay $20/mo per autogenerated PDF containing a table of transactions to scrape with e.g. PDFminer (because they don't keep all account history data online)?
E.g. GNUcash (open source double-entry accounting software) supports HBCI (and QIF (Quicken format), and OFX (Open Financial Exchange)).
https://www.gnucash.org/features.phtml
HBCI/FinTS has been around in Germany for quite awhile but nowhere else has comparable banking standards? I.e. Plaid may (unfortunately, due to lack of read-only tokens across the entire US consumer banking industry) be the most viable option for implementing HBCI-like support in GNUcash
ISO20022 is "A single standardisation approach (methodology, process, repository) to be used by all financial standards initiatives" https://www.iso20022.org/
What data format does the FTC CAT Consolidated Audit Trail expect to receive mandatory financial reporting information in? Could ILP simplify banking and financial reporting at all?
FWIU, RippleNet (?) is the only network that supports attachments of e.g. line-item invoices (that we'd all like to see in the interest of transparency and accountability in government spending).
W3C ILP: Interledger Protocol. See links above.
Of the specs in this loose category, only cryptoledgers do not depend upon (DNS or) TLS/SSL - at the protocol layer, at least - and every CA in the kept-up-to-date trusted CA cert bundle (that could be built from a CT Certificate Transparency log of cert issuance and revocation events kept in a blockchain or e.g. centralized google/trillian, which they have the trusted sole root and backup responsibilities for).
Though, the DNS dependency has probably crept back into e.g. the bitcoind software by now (which used to bootstrap its list of peer nodes (~UNL) from an IRC IP address instead of a DNS ___domain).
FWIU, each trusted ACH (US 'Direct Deposit') party has a (one) GPG key that they use to sign transaction documents sent over now (S)FTP on scout's honor - on behalf of all of their customers' accounts.
When you loan your money to a bank by depositing ledger dollars or cash - and they, since GLBA in 1999, invest it and offer less than a 1% checking interest rate - and they won't even give you the record of all of your transactions as CSV/OFX `SELECT * FROM transactions WHERE account_id=?`, you have to pay $20/mo per autogenerated PDF containing a table of transactions to scrape with e.g. PDFminer (because they don't keep all account history data online)?
Seemingly OT, but not. APIs for comparison here:
FinTS / HBCI: Home Banking Computer Information protocol https://en.wikipedia.org/wiki/FinTS
E.g. GNUcash (open source double-entry accounting software) supports HBCI (and QIF (Quicken format), and OFX (Open Financial Exchange)). https://www.gnucash.org/features.phtml
HBCI/FinTS has been around in Germany for quite awhile but nowhere else has comparable banking standards? I.e. Plaid may (unfortunately, due to lack of read-only tokens across the entire US consumer banking industry) be the most viable option for implementing HBCI-like support in GNUcash
OpenBanking API Specifications: https://standards.openbanking.org.uk/api-specifications/
Web3 (Ethereum,) APIs: https://web3py.readthedocs.io/en/stable/web3.main.html#rpc-a...
ISO20022 is "A single standardisation approach (methodology, process, repository) to be used by all financial standards initiatives" https://www.iso20022.org/
Brazil's PIX is one of the first real implementers of ISO20022. A note regarding such challenges: https://news.ycombinator.com/item?id=24104351
What data format does the FTC CAT Consolidated Audit Trail expect to receive mandatory financial reporting information in? Could ILP simplify banking and financial reporting at all?
FWIU, RippleNet (?) is the only network that supports attachments of e.g. line-item invoices (that we'd all like to see in the interest of transparency and accountability in government spending).
W3C ILP: Interledger Protocol. See links above.
Of the specs in this loose category, only cryptoledgers do not depend upon (DNS or) TLS/SSL - at the protocol layer, at least - and every CA in the kept-up-to-date trusted CA cert bundle (that could be built from a CT Certificate Transparency log of cert issuance and revocation events kept in a blockchain or e.g. centralized google/trillian, which they have the trusted sole root and backup responsibilities for).
Though, the DNS dependency has probably crept back into e.g. the bitcoind software by now (which used to bootstrap its list of peer nodes (~UNL) from an IRC IP address instead of a DNS ___domain).
FWIU, each trusted ACH (US 'Direct Deposit') party has a (one) GPG key that they use to sign transaction documents sent over now (S)FTP on scout's honor - on behalf of all of their customers' accounts.