1993-10-10 - The Bank of the Internet!? (fwd)

Header Data

From: hughes@ah.com (Eric Hughes)
To: cypherpunks@toad.com
Message Hash: cd9560be8f80a38a1f60fb9a01d1e2e31bc786e0ad375e97b106d9323834d428
Message ID: <9310101517.AA08200@ah.com>
Reply To: <9310100715.AA27486@illuminati.IO.COM>
UTC Datetime: 1993-10-10 15:21:05 UTC
Raw Date: Sun, 10 Oct 93 08:21:05 PDT

Raw message

From: hughes@ah.com (Eric Hughes)
Date: Sun, 10 Oct 93 08:21:05 PDT
To: cypherpunks@toad.com
Subject: The Bank of the Internet!? (fwd)
In-Reply-To: <9310100715.AA27486@illuminati.IO.COM>
Message-ID: <9310101517.AA08200@ah.com>
MIME-Version: 1.0
Content-Type: text/plain

Zeek forwarded a message written by Arthur Chandler which appears to
have appeared on Future Culture.  This reply is going both to the
cypherpunks list (worldwide) and also to the austin-cypherpunks list
(a locality); some comments may be obvious for one group or the other.

There are several small factual details incorrect in this post, most
of which I will not try to correct.  As he said, "I'm oversimplifying
all this."

One in particular, though, should be.  The EFF is not "backing" a
credit union, at least not the national organization.  Members of
EFF-Austin, a local chapter of the EFF, (well, the only local chapter,
but that's another story) are looking to form their own credit union.
Their efforts will provide a model for other such efforts.

True, it will use the "internet as the monetary highway" (a phrase I
delight in), but at least at the outset will neither issue digital
money nor deploy internationally distributed secret sharing.  I did
talk about both of these, but not as specifically regards any
particular financial project.