[lupire]

> transaction processor, run by a trusted operator

> there are no intermediaries

Except the transaction processor.

Which part doesn't sound like Venmo?

"Signed transactions" is essentially SSL/SPIF/I don't know the details but it's regular Internet security encryption and signatures.

The only difference from Venmo is that users get a proper PK instead of phone or email address id, and it's vertically integrated.