From: Robert Hettinga <rah@shipwright.com>
Date: Sun, 14 Jul 1996 10:14:13 +0800
To: cypherpunks@toad.com
Subject: Cybank breaks new ground; rejects public-key encryption
Message-ID: <v03007606ae0dd5274a4e@[199.0.65.105]>
MIME-Version: 1.0
Content-Type: text/plain



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Sender: e$@thumper.vmeng.com
Reply-To: Ian Grigg <iang@systemics.com>
MIME-Version: 1.0
Precedence: Bulk
Date: Sat, 13 Jul 1996 22:55:43 +0200
From: Ian Grigg <iang@systemics.com>
To: Multiple recipients of <e$@thumper.vmeng.com>
Subject: Cybank breaks new ground; rejects public-key encryption

This taken from their pages (http://www.cybank.net/cb-encr.htm)
---------------------------------
                  Security and Encryption

  Cybank software is protected by multiple encryption and identification
  systems, some can be seen, others are invisible.

  Cybank cash can be traced back to the original account it belongs to.

  Cash Keys cannot effectively be modified with disabling them.

  Because cash keys are also password protected, they can only be created and
  spent by the authorised account holder.

  Cybank uses an encryption matrix of 380 characters. Cybank can safely
  transfer any Cash Key or message from point A to point B via the Internet.
  Cybank DOES NOT use Public Key Encryption (which has proven to be
  insecure).

  Here is a sample encrypted code, see if you can understand it:

  193404158201838932119642777371870823541340764 [...]
-------------------------------

I wonder if they intend to publish the protocols :-)

--
iang
iang@systemics.com


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-----------------
Robert Hettinga (rah@shipwright.com)
e$, 44 Farquhar Street, Boston, MA 02131 USA
"'Bart Bucks' are not legal tender."
                -- Punishment, 100 times on a chalkboard,
                       for Bart Simpson
The e$ Home Page: http://www.vmeng.com/rah/