From: Duncan Frissell <frissell@panix.com>
Date: Tue, 7 Dec 93 04:10:20 PST
To: CYPHERPUNKS@toad.com
Subject: Re: Digicash question
Message-ID: <199312071209.AA12940@panix.com>
MIME-Version: 1.0
Content-Type: text/plain


W >One problem with your proposal is that at *some* point you want to be 
W >able to get *real* cash for your digicash - at that point you've got to 
W >give the bank the password, but also an account to deposit the cash
W >into (or equivalent), and at that point the bank can compare it with
W >the original owner of the bill.  You not only have to trust them to
W >not rip off the money, you have to trust them to not give away
W >the information, which may be tough if the government requires it.

No, they can just dump it into your VISA "cash card" to increase the 
balance on that account.  You can then make ATM withdrawals (or POS 
purchases) using your cash card.  VISA recently announced that they will 
be issuing "plastic" traveller's cheques.  Offshore banks can also be 
involved to increase the security if you like.     

DCF




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