{"title": "OpenBanking.nr", "logoImg": "bafkreibpkqavxclchfjzklfwvykjubaezpdviupvcgys5y3espbzjids6a", "website": "https://github.com/openbanking-nr", "bannerImg": "bafkreickoyiztmhja32ztfrcwlgq6yh5vphg63wfph4rjlfmcyuludktlq", "createdAt": 1743472841598, "userGithub": "jp4g", "credentials": {}, "description": "OpenBanking (in the EU and UK) is a regulatory-driven initiative to give financial product consumers open access to their financial accounts. Importantly, the OpenBanking standard \"Payment Services Directive 2\" (PSD2) stipulates that receipts of \"payment initiations\" are returned directly from banking institutions with legally binding signatures attached to them.\n\nWith OpenBanking.nr, anyone can create zk proofs of Account-to-Account bank transfers in all participating jurisdictions. Initially, this can be used to create non-custodial bank-to-crypto transfers (similar to the ZKP2P model but with stronger trust guarantees). \n\nHowever, we believe this is most impactful as a new payment rail for smart contracts. Now, smart contracts can trustlessly* (trust in eIDAS regulated PKI) erify a payment between two parties occurs offchain (rather than moving money in cryptocurrency onchain), greatly expanding the class of applications available and giving developers more ways to include users who have not been onramped and may never want to onramp into cryptocurrency.\n\nOne thing to note is that this works in sandboxed environments, but production use-cases require licensing by FCA in UK or EBA in the EU.", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "openbanking-nr"}