Project Idea: Integration of Credit Cards with Crypto

Credit Cards are the most useful ways people transact on the Internet, whether it be as standalone transactions or via 3rd party companies such as PayPal, MoneyBookers and so on.

One of their biggest downfalls is the security that follows every transaction as Credit Card information can be obtained via skimming, hacking websites that store users Credit Card details and of course, the theft of a Credit Card.

So we are looking at a method to integrate a person Credit Card details with the security of the blockchain to combine a one time wallet address or QR code, within a transaction that will relegate a transaction as void, should the 2 identifiable "items" not match.

This is only a speculative idea for now and something to be discussed, but the way we could possibly see a function would be like:

1. Credit Card details along with a CVV code transmitted
2. At the exact time, a send from a designated wallet tied to that particular transaction is also sent
3. The Credit Card transaction contains the wallet address during the transaction, along with a send of xxxxx amount
4. The issuing company or Bank would first verify that the two match point for point
5. If they match, the transaction completes, if they fail, the transaction is voided and notifications are sent out to parties related to the Credit Card for security

I do need to stress that this is only an idea and one of many we are looking into, not just for Crypto Currency, but also to ease back the fraud by increasing verifiable details, so that peoples finances are not tampered by outside parties.