Working Group Details
CPWG - Cryptocurrency Payment Working Group
CTS/BSC - Blockchain Standards Committee
|IEEE Program Manager|
This standard defines the risk control requirements for cryptocurrency payment between consumers and merchants. It addresses how to control the risks on related sides and manage the security of fiat money and cryptocurrency in the value transferring process.
Defined in this standard is the general process of cryptocurrency payment between consumers and merchants. This process describes how a consumer purchases goods or services with cryptocurrency and how the merchant receives fiat money in return. It involves multiple aspects such as cryptocurrency payment operators playing an agent role, consumers owning cryptocurrency, merchant accessing to a cryptocurrency payment platform, banks, and cryptocurrency exchanges.