From: jpp@markv.com
Date: Sat, 28 Jan 95 16:40:49 PST
To: cypherpunks@toad.com
Subject: Re: Protocols for a Data Bank
In-Reply-To: <ab5087cb03021004c425@DialupEudora>
Message-ID: <9501281639.ab19254@hermix.markv.com>
MIME-Version: 1.0
Content-Type: text/plain


> Date: Sat, 28 Jan 1995 15:49:13 -0800
> From: norm@netcom.com (Norman Hardy)
>   [...]
> Selling Hat Checks: The bank will sell a hat check to anyone who will pay a
> negotiated price. The hat check specifies the secure hash of the data, the
> penalty to be paid upon failure to produce the data, and the cost of
> redeeming the data. The hat check is signed blindly by the bank and is a
                                              ^^^^^^^
> bearer instrument. Any holder of a hat check can present the check along
> with the redemption fee and demand the data. 

  Why in the world would the bank want to sign blindly?  The bank
would be undertaking an obligation of an unknown nature.  Would you
sign a blank check?  A blank contract?  I wouldn't.

  Unless the comunication mechanism ensures anonymity, the bank can
know who deposited what, and who 'withdrew' what.

j'