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GNU Taler v1.3 released
GNU Taler is a Free Software payment system that preserves the privacy of payers while ensuring that income is visible to authorities. Regulated payment service providers use the Taler protocol to issue digital cash denominated in a fiat currency. The digital cash tokens are stored in electronic wallets under the full control of its respective owner. The payment service provider has an escrow bank account holding the equivalent of all digital cash in circulation.
Merchants redeeming digital cash receive aggregate transactions over the respective amount into their regular bank account. Digital cash transactions happen basically instantly, and must be performed online to prevent double-spending.