Private POS terminal
Problem to Solve:
There is a need for greater privacy and security in electronic payments, as the parties involved in the transaction are able to verify the authenticity of the payment without exposing sensitive information. A solution to enable private payments using Zero Knowledge proofs. While this is being implemented for online checkouts, in the offline world the POS terminals are still not utilizing Zero knowledge proof.
Possible Solution:
By enabling the parties to a transaction to confirm the legitimacy of the payment without disclosing the transaction's inner workings, zero-knowledge proofs can be used to assist ensure privacy in electronic payments.
For instance, in a private cryptocurrency transaction, the sender can use a zero-knowledge proof to show the recipient that they have the funds necessary to make the payment without disclosing the exact amount or where the money came from. Without being aware of the sender's identity or any other sensitive information, the recipient can then confirm the proof and accept the money.
The same can be extended to a POS terminal by building a solution to Integrate the zero-knowledge proof mechanism into the POS terminal.
For builders it is important to keep in mind that there may be a need to modify the transaction flow for the hardware terminals.
Resources:
Related Ideas
